Three Simple Tips to Manage Your Money

Have you ever had problems managing your money? I believe so, most of us have. It is important to understand that beyond the economy you live in (and the debts you have to pay at the end of the month), there is always a way to improve your financial situation if you know exactly what to do as a business or private individual. I have found this topic very interesting and useful for everyone since money plays an important role in our daily lives. I am usually reading about financial issues and I inform myself very often through the experts’ opinions. I want to share with you three essential points that will help you improve your financial situation and make your life so much easier.

First, define your goal. It is pretty difficult to achieve what you want if you do not know what you want to buy. In fact, you do not know the best way to have a successful budget because your financial goals are not even defined. Financial success is almost impossible and very stressful without a clear objective. If you do not know how much revenue you want to generate, you will not know how much work you should do to achieve it. Having a clear idea of what you can afford to avoid living beyond what you have is essential. Clear goals help you avoid unfavorable situations such as financing a lifestyle with credit or simply buying stuff you do not need. This tip works for everyone in any situation, not only for companies but also for individuals. With this first step, you created a foundation, which will help you build your financial success.

Second, control your expenses excessively. The problem is not how much you spend but what you buy. It is important for you to know what goods and services you need to purchase in order to live. Sometimes people feel suffocated by not having enough money. However, they do not realize that if they only purchase the things they need, they would have more money to spend on other things. When you know where your money is going, you are able to make more efficient decisions in business or personal finances. Controlling your expenses also allows you to keep track of misleading, incorrect or inaccurate information in important areas, such as your credit report. Another benefit of controlling your expenses is that you can determine how long you will have to save money to purchase a non-essential good or service. Some easy methods to control your expenses include an Excel sheet to track transactions, a handwritten list at the end of the day, or even applications on your mobile device that notify you every time you spend something with your cards.

Third, plan ahead. Planning is very important because it helps you to be prepared for any situation in the future. When you make a plan efficiently, you are able to reduce the necessary time and effort to achieve certain goal. Planning will help you control your expenses by identifying the best options for your investments. When you plan ahead, you gather the necessary information to make informed decisions and avoid adverse transactions. For example, paying down the debt with the highest interest or creating an emergency fund to avoid getting back into debt if an emergency happens, are easy decisions when you have a well-developed financial plan. Having defined goals, controlling your expenses, and planning are connected. You can develop a plan to achieve your goals and control your expenses.

Top 5 Binary Option Strategies

The odds involved in the binary option equation mean that in order to accomplish all that, one has to be able to finish the majority of his trades in the money. In this article, we’ll take a closer look at some of the most popular technical analysis-based strategies that actually work. These strategies are also some of the simpler ones, which doesn’t just mean they’re accessible to beginners as well, they can also be applied to short-term options.

Trend-following is perhaps the most elementary of all binary option trading strategies. Price-action always goes through various up-trends or downtrends, regardless of the type of asset we’re looking at. The market seldom if ever flat-lines, so there are obviously all sorts of trading opportunities in these trends. All one needs to do is to spot up-trends and downtrends and to draw the trend-lines. Experienced traders don’t even really need the trend-lines to be able to trade the trends.

What this strategy boils down to is: what is an up-trend and what is a downtrend? An up-trend is a general upward movement of the price-signal, characterized by higher and higher lows and higher and higher highs. A downtrend on the other hand features lower and lower highs and lower and lower lows. The trend lines can be drawn up by linking two of the successive highs in the case of a downtrend, an two of the successive lows in an uptrend. The trades that have to be placed, are self-explanatory. In case of an uptrend, the Call option is in order. In case of a downtrend, the Put option needs to be purchased.

The MACD-based 60-second strategy is a great way to take advantage of the quick, instant-gratification focused option-types that most binary option brokers feature these days. This strategy is based on the Moving Average convergence and divergence indicator, which is the only technical indicator used for this approach. The MACD has to be used with certain settings for this strategy to work, and it will show up as a blue line following the white line of the price signal. Whenever the MACD line crosses the price signal line, we have a trading signal. The MACD is essentially showcasing the momentum of the price-change, so its fluctuations represent a sort of prediction in this regard. If the MACD line crosses the price signal from below, we have an impending reversal of a downtrend into an uptrend. If the MACD line crosses the price signal from above, we’re looking at the impending reversal of an uptrend into a downtrend.

This strategy can be combined with various candlestick patterns that offer further confirmation of the upcoming reversal, and with other indicators too. For short-term options like 60-second options though, keeping the setup simple should always be a priority.

Using various candlestick patterns, like the pin-bar (also known as Pinocchio) is also a viable strategy for identifying various upcoming trend-reversals. The pin-bar is a very peculiar candlestick, featuring a small body and a long wick. Depending on which side of the candlestick body the long wick forms, we have a bearish or a bullish pin-bar pattern. In theory, when there’s an uptrend underway and a bearish pin-bar suddenly forms, we’re looking at an impending price-drop, which should obviously be traded through a PUT option. By analogy, bullish pin bars call for CALL trades.

With this strategy, timing is of the essence. Missing a beat here and there will definitely defeat the Pinocchio.

The straddle strategy is a damage-control oriented approach, the primary purpose of which is to tide the trader through some highly volatile market conditions which may strike out of the blue. Straddling is a bit like hedging, but there are considerable differences between the two. In light of the fact that hedging doesn’t work with binary options, that is indeed quite a blessing. The Straddle approach is about the placing of two trades, some time apart, to counteract the effects of unexpected volatility. Additional indicators are used too, in order to foresee the up and down movements induced by volatility. In certain cases, the Straddle strategy may in fact lead to the doubling up of one’s profits, but again, its primary mission is to limit one’s losses.

Support and resistance levels have been used for the trading of binary options since essentially the very beginning. The concept of support and resistance draws its legitimacy directly from the actual trading moves made by the institutional and retail traders involved in the trading of a given asset. Support levels are essentially price-levels from which the price repeatedly bounces off when headed downward. Resistance levels are similar ceilings, from which the price bounces off when headed upwards. This strategy is looking to cash in on these bounce-offs resulting from these support and resistance levels.

Are Your Finances Ready for Fun?

While the best things in life are free, as the saying goes, some of life’s great experiences do have a price tag. If you’re considering fulfilling your childhood dream of hiking the Appalachian Trail or you’re offered tickets to see your favorite team play in the championship game, you know these experiences can be costly. Yet these opportunities can be within financial reach if you have a plan and sufficient funds set aside. The following do’s and don’ts can help you take the right steps to make these dreams a reality.

Do calculate the total cost of the experience. Many opportunities have upgrades or additional options that can make the experience memorable. Think about what the ideal experience looks like for you, and factor those extra costs into your budget. Be sure to include the cost of accommodations and airfare if participating requires you to travel.

If you’re traveling with family or friends, discuss your expectations before you go. That way, if your friend wants backstage passes or a seat upgrade, you can prepare your budget accordingly. You’ll also avoid an emotional decision in the moment that could derail your finances.

Do make saving a priority. Start by looking at your recent spending and identify ways to allocate money to fund your dream. If you have a recurring subscription or a cable package you don’t use, consider eliminating the expense and funding your dream instead. Next, create a savings goal, or the amount you’d like to earmark for those VIP tickets each month. Having a goal may help you reign in impulse purchases, because your financial priorities will be top-of-mind.

If you’re still tempted to spend the money elsewhere, consider establishing a separate savings account. Many accounts allow you to set up an automatic transfer into the dedicated account each month. If you have the option, automatic transfers could help make the process of saving easier.

Don’t spend your emergency savings. While you may be tempted, avoid tapping into your emergency fund. This money should be used to meet a sudden unexpected expense or to fill the gap in case of a job layoff. If you fund your scuba vacation instead, you do so at a possible risk to your long-term financial security. Unforeseen expenses can occur at any time, so you want to have sufficient money in place.

Don’t forget to keep funding other financial priorities. As you save toward your dream, make sure you continue to fund other long-term financial goals, such as your retirement or your child’s college tuition. If you want help balancing your priorities, consider meeting with a financial professional who can work with you to develop a strategy that addresses your unique situation.

Do enjoy the experience without the financial guilt. If you take the time to create a plan and be diligent about saving, chances are that you’ll be able to enjoy the experience without thinking about its impact to your budget. Your dream will feel even more fulfilling if you feel good about the financial decisions you made to get there.

Later Life Mortgages

Equity Release – ER: (Later Life Lending) and the interest-only mortgage timebomb.

It is estimated that around 3m people in the UK have interest-only mortgages and a great many of these people either have a shortfall on their mortgage repayment vehicles (mainly endowments not performing) or have no repayment vehicle in place – with an ever-faster approaching mortgage repayment date.

For those with a shortfall, if over a certain age, they’ll have to either find the money to repay the lender or downsize – the chances for many over 55s getting an affordable remortgage are slim, if in fact they can get a mortgage at all. An answer could be Equity Release.

Most people have built up equity in their properties over the years and, for those with a mortgage to repay but who want to stay in their home, releasing some of the cash tied up in their property could be the perfect answer.

Other uses for ER

Of course using ER to repay a mortgage is just one of the uses it can be put to. Some other uses are:

A tax-free lump sum for private medical care, to avoid a lengthy waiting list.
Help a family member to buy their first home.
Help finance a move to a new property.
Replacement of family car/home improvements/similar uses.
Supplement retirement income.
Reduce the value of your estate and save on Inheritance Tax.
Enjoy your money while you’re alive.
Actually go on that adventure that you’ve always dreamed of.
Purely to have the money to spend as you want, when you want.

Modern Equity Release plans are very flexible and, because ER advisers are now regulated by the Financial Conduct Authority (FCA), very transparent.

Before settling on the services of an ER adviser you should ensure that the firm you are considering offer the following:
*An initial meeting/discussion either by telephone or face to face without obligation and without charge.
*Ensure that equity release is a suitable route for you now or possibly later.
*They’ll explain in full how equity release works and its impact on you & others.
*They’ll discuss all alternatives and provide access to these options if needed.
*Their recommendation will be based solely on your needs.
*If the recommended route is to proceed with an arrangement, then they will provide you with a Key Facts Illustration (a client specific illustration).
*If you are fully happy to proceed, they will help you with the application process.

When an application is completed, you will receive a suitability letter from them, that will fully explain why the Equity Release product has been chosen.

Equity release: types of scheme

There are two main types of equity release: lifetime mortgages, which allow you to borrow money against your house; and home reversion, whereby you sell a share in your property.

Lifetime mortgages (can be taken out from the age of 55) – repaid when you die or go into long-term care.
With a lifetime mortgage, you borrow a proportion of your home’s value. Interest is charged on the amount borrowed, but nothing usually has to be paid back until you die or sell your home. The interest is compounded or ‘rolled up’ over the period of the loan, meaning your debt could double in 11 years at current rates.

Home reversion schemes (only available to people 65 or older) – you effectively sell a portion of your property to the lender but can remain in the property until you die.

With a home reversion scheme, you usually sell a share of your property to the loan provider for less than the market value. You have the right to stay in your home for the rest of your life if you wish. When you die or move into long-term care and the property is sold, the provider gets the same share of whatever your home sells for as repayment. For example, if you sold 50% of your property to the provider, it would get 50% of the sale price.