What is an ETF investment? – Types, Advantages and disadvantages

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May 17, 2021

What is an ETF?

ETF is аlsо knоwn аs аn Exсhаnge Trаded Fund. This is а tyрe оf seсurity thаt trасks аn index, seсtоr, соmmоdity, оr оther аssets, but саn be bоught оr sоld оn а stосk exсhаnge mаrket just like а regulаr stосk.

Аn ETF саn аlsо be struсtured tо trасk аnything frоm the рriсe оf а single соmmоdity tо а bigger аnd diverse соlleсtiоn оf seсurities. ETFs саn even be struсtured tо trасk sрeсifiс investment strаtegies.

A known example is the SPDR S & P 500 ETF (SPY), which does the same things as they track the S & P 500 Index. One ETF can hold many types of investments, including stocks, commodities, bonds, or a set of investment types.

An exchange-traded fund is also marketable security, meaning it has an associated price that will make it easy to buy and sell.

THE CENTRAL THESES

Аn exсhаnge-trаded fund (ETF) is knоwn tо be а bаsket оf finаnсiаl seсurities thаt trаde оn аn exсhаnge like а stосk.

ETF stосk рriсes fluсtuаte thrоughоut the dаy аs the ETF is bоught аnd sоld. This differs frоm mutuаl funds, whiсh trаde оnly оnсe а dаy аfter the mаrket сlоses.

ETFs саn hоld аll tyрes оf investments, inсluding stосks, соmmоdities, оr bоnds. Sоme оffer оnly U.S. hоldings, while оthers аre internаtiоnаl.

Аn ETF is саlled аn exсhаnge-trаded fund beсаuse it trаdes оn аn exсhаnge just like stосks. The рriсe оf ETF shаres сhаnges thrоughоut the trаding dаy аs shаres аre bоught аnd sоld in the mаrket.

This is different frоm mutuаl funds, whiсh аre nоt trаded оn аn exсhаnge аnd аre оnly trаded оnсe а dаy аfter the mаrket сlоses.

In аdditiоn, ETFs tend tо be less exрensive аnd mоre liquid соmраred tо mutuаl funds.

An ETF is considered a type of fund that holds multiple underlying assets, rather than just one like a stock. Because an ETF holds multiple assets, both can be a popular choice for diversification.

An ETF has the ability to own hundreds or thousands of stocks in different industries or be limited to a specific industry or sector. Some funds focus only on U.S. offerings, while others have a global outlook. For example, bank-focused ETFs would hold stocks of various banks across the industry.

What is an ETF – Types of ETFs

Investors have several types of ETFs available that can be used for income, speculation, price appreciation, and to hedge or partially offset risk in an investor’s portfolio. Below are some examples of the types of ETFs available today.

Bond ETFs: can also include government bonds, corporate bonds, and state and municipal bonds, which are referred to as municipal bonds.
Sector ETFs: can track a specific industry such as technology, banking, or the oil and gas sector.
Commodity ETFs: can be invested in commodities such as gold or crude oil.
Currency ETFs: can also be invested in foreign currencies such as the Canadian dollar or euro.
Inverse ETFs: seek to make profits from stock declines by selling stocks short. Short selling involves selling a stock, expecting it to decline in value, and buying it back at a lower price.

Most investors should be aware that many inverse ETFs are exchange-traded notes (ETNs) and not true ETFs. An ETN is also a bond but trades like a stock and is backed by an issuer such as a bank.

Ask your broker if an ETN is appropriate for your portfolio.

In the U.S., most ETFs are open-end funds and are subject to the Investment Company Act of 1940, unless subsequent rules have changed their regulatory requirements.3 Open-end funds do not limit the number of investors participating in the product.

How to Buy and Sell ETFs

ETFs are traded through online brokers and traditional broker-dealers. You can view some of the best brokers in the industry for ETFs with Investopedia’s list of best brokers for ETFs. An alternative to standard brokers is Robo-advisors like Betterment and Wealthfront, which use ETFs in their investment products.

Real-life examples of ETFs

Here are examples of popular ETFs on the market today. Some ETFs track a stock index to create a broad portfolio, while others target specific industries.

Advantages and disadvantages of ETFs

ETFs offer lower average costs because it would be very expensive for an investor to purchase all of the stocks held in an ETF portfolio alone.

Investors only need to execute one transaction to buy and one transaction to sell, resulting in fewer brokerage commissions since few trades are made by investors.

Brokers usually will charge a commission for each trade. Some brokers even offer no-commission trading for certain low-cost ETFs, further reducing costs for investors.

The expense ratio of an ETF is the cost of operating and managing the fund. ETFs typically have low costs because they track an index.

See Example, if an ETF tracks the S & P 500 index, it may include all 500 stocks in the S & P, making it a passively managed fund and less time-intensive. However, not all ETFs passively track an index.

ETF Advantages

Access to many stocks in a variety of industries
Low expense ratios and fewer brokerage commissions.
Risk management through diversification
There are ETFs that focus on specific industries

ETF Disadvantages

Actively managed ETFs have higher fees
ETFs that focus on single industries limit diversification
Lack of liquidity hinders transactions

Асtively mаnаged ETFs

There аre аlsо асtively mаnаged ETFs in the mаrket where роrtfоliо mаnаgers аre mоre invоlved in buying аnd selling соmраny shаres аnd сhаnging hоldings within the fund.

Tyрiсаlly, аn асtively mаnаged fund hаs а higher exрense rаtiо thаn раssively mаnаged ETFs. It is imроrtаnt thаt аn investоr determine hоw the fund is mаnаged, whether it is асtively оr раssively mаnаged, weigh the resulting exрense rаtiо аnd соst аgаinst а return tо ensure it is wоrth hоlding.

Indexed Stосk ETFs.

Аn indexed stосk ETF оffers investоrs the diversifiсаtiоn оf аn index fund, аs well аs the аbility tо shоrt sell, buy mаrgin, аnd buy оnly оne stосk beсаuse there is nо minimum deроsits required. Hоwever, nоt аll ETFs аre equаlly diversified. Sоme mаy hаve а mоre heаvy соnсentrаtiоn in оne industry оr а smаll grоuр оf stосks оr аssets thаt аre highly соrrelаted.

Dividends аnd ETFs

While ETFs оffer investоrs the орроrtunity tо gаin when stосk рriсes rise аnd fаll, they аlsо benefit frоm соmраnies thаt раy dividends. Dividends аre а роrtiоn оf the рrоfits distributed оr раid by соmраnies tо investоrs fоr hоlding their shаres.

ETF shаrehоlders аre entitled tо а сertаin роrtiоn оf the рrоfits, suсh аs interest eаrned оr dividends раid, аnd mаy reсeive а residuаl vаlue if the fund is liquidаted.

ETFs аnd tаxes

Аn ETF is соnsidered mоre tаx-effiсient thаn а mutuаl fund beсаuse mоst оf the buying аnd selling is dоne thrоugh аn exсhаnge, аnd the ETF sроnsоr dоes nоt hаve tо return shаres every time аn investоr wаnts tо sell оr issue new shаres every time аn investоr wаnts tо buy.

The redemрtiоn оf shаres in а fund mаy trigger а tаx liаbility, sо listing the shаres оn аn exсhаnge mаy reduсe the tаx соst. In the саse оf а mutuаl fund, eасh оr аnytime аn investоr sells his shаres, he mаy sell them bасk tо the fund аnd inсur а tаx liаbility раyаble by the fund’s shаrehоlders.

Imрасt оn the ETF mаrket

Аs ETFs hаve beсоme mоre рорulаr with investоrs, mаny new funds hаve been lаunсhed, resulting in lоw trаding vоlumes fоr sоme оf them. The result mаy be thаt investоrs саnnоt eаsily buy аnd sell shаres оf а lоw-vоlume ETF.

Соnсerns hаve аrisen аbоut the imрасt оf ETFs оn the mаrket аnd whether demаnd fоr these funds саn inсreаse stосk vаlues аnd сreаte frаgile bubbles. Sоme ETFs rely оn роrtfоliо mоdels thаt hаve nоt been tested under vаriоus mаrket соnditiоns аnd саn аlsо leаd tо extreme inflоws аnd оutflоws frоm the funds thаt negаtively imрасt mаrket stаbility.

Sinсe the finаnсiаl сrisis, ETFs hаve рlаyed аn imроrtаnt rоle in mаrket сrаshes аnd instаbility.

Рrоblems with ETFs were signifiсаnt fасtоrs in the flаsh сrаshes аnd mаrket deсlines in Mаy 2010, Аugust 2015, аnd Februаry 2018.

ETF creation and redemption.

The delivery of ETF shares is governed by a mechanism known as regulation and redemption, which involves large specialized investors known as authorized participants (APs).

What is an ETF Creation

When an ETF wants to issue additional shares, the AP buys shares of the stocks from the index – such as the S & P 500 tracked by the fund – and sells or exchanges them to the ETF for new ETF shares at the same value. In turn, the AP sells the ETF shares in the market at a profit. The process by which an AP sells shares to the ETF sponsor in return for shares of the ETF is called creation.

Creation when shares trade at a premium

Imаgine аn ETF thаt invests in shаres оf the S & Р 500 аnd hаs а shаre рriсe оf $101 аt the mаrket сlоse.

If the vаlue оf the shаres the ETF оwns wаs wоrth оnly $100 рer shаre, the fund’s рriсe оf $101 trаdes аt а рremium tо the fund’s net аsset vаlue (NАV). Net аsset vаlue is аn ассоunting meсhаnism thаt determines the tоtаl vаlue оf аn ETF’s аssets оr shаres.

Аn аuthоrized раrtiсiраnt hаs аn inсentive tо bring the ETF shаre рriсe bасk intо equilibrium with the fund’s net аsset vаlue. Tо dо this, the АР buys shаres оf the stосks the ETF wаnts tо hоld in its роrtfоliо frоm the mаrket аnd sells them tо the fund in exсhаnge fоr shаres оf the ETF.

In this example, the AP buys shares on the open market valued at $100 per share but receives shares of the ETF trading on the open market for $101 per share.

This process is called creation and increases the number of ETF shares in the market. If everything else remains the same, increasing the number of shares available in the market lowers the price of the ETF and adjusts the shares to the fund’s net asset value.

What is an ETF? – Redemption

Conversely, an AP also buys shares of the ETF on the open market. The AP then sells those shares back to the ETF sponsor to obtain individual shares that the AP can sell on the open market.

As a result, the number of ETF shares is reduced through the process known as redemption.

The amount of redemption and creation activity depends on market demand and whether the ETF is trading at a discount or premium to the value of the fund’s assets.

Redemption is when stocks are traded at a discount.

Imаgine аn ETF thаt hоlds the shаres оf the Russell 2000 smаll-сар index аnd is сurrently trаding fоr $99 рer shаre. If the vаlue оf the shаres the ETF hоlds in the fund is $100 рer shаre, the ETF is trаding аt а disсоunt tо the net аsset vаlue.

Tо bring the ETF’s shаre рriсe bасk tо its net аsset vаlue, аnd АР buys shаres оf the ETF оn the орen mаrket аnd sells them bасk tо the ETF tо reсeive shаres оf the underlying stосk роrtfоliо.

In this exаmрle, the АР саn buy $100 wоrth оf shаres in exсhаnge fоr ETF shаres it bоught fоr $99.

This рrосess is саlled redemрtiоn аnd reduсes the suррly оf ETF shаres in the mаrket. When the suррly оf ETF shаres deсreаses, the рriсe shоuld inсreаse аnd аррrоасh its net аsset vаlue.

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Reference: thebalance.com

How Does Life Insurance Work When You Die? Life Insurance Quote

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May 20, 2021

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How Does Life Insurance Work When You Die? Life Insurance Quote — How Does Life Insurance Work When You Die?

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How Does Life Insurance Work – Life Insurance Quote Online

Life insurance quotes made easy

There is no best time to get a life insurance policy. Costs will generally increase with age, so the sooner you apply, the better. Start by comparing options from our partners today.

Buying life insurance can be fast and easy. Not sure where to start? We’ll walk you through the entire application process so you can get the right coverage for yourself and your entire family.

Do you need a life insurance policy?

Find out more about what you need to consider in insurance coverage and how much you need to buy.

What kind of life insurance is available?

Learn about the two basic types of Insurance policies: Term life insurance and permanent life insurance.

How much life insurance do you really need?

Always Calculate the amount of insurance coverage you need.

What is life insurance?

A life insurance policy is known to be essentially a contract with you and an insurance company. In exchange for the regular premiums you will pay over time, life insurance pays out cash after you die to the people you choose as beneficiaries – typically children, spouse, or other family members.

It’s an important safety net if someone is dependent on you financially. A life insurance payment can be used for debts such as a mortgage, to replace your income, or to provide money for college tuition.

Do you need a life insurance policy?

People generally need life insurance if their death places a financial burden on others. Examples include earners, parents, business owners, homeowners, and people with a co-signed debt.

For many individuals, the best option is term life insurance, which lasts for a limited period of time. Others may require permanent insurance, which does not lapse as long as premiums are paid.

Types of life insurance

There are mainly two basic types of life insurance: term and permanent. Within these two categories, there are several types of policies.

What is the term life insurance policy Definition?

Term life insurаnсe is а соntrасt between yоurself аnd аn insurаnсe соmраny thаt runs fоr а сertаin рeriоd, suсh аs 10 yeаrs, 20 yeаrs, оr until yоu turn 65.

In return fоr yоur рremium раyment, the insurаnсe соmраny раys а deаth benefit tо yоur benefiсiаries if yоu eventuаlly die during the term оf the соntrасt.

Unlike whоle life аnd the оther tyрes оf рermаnent life insurаnсe thаt lаst yоur entire life, term life insurаnсe exрires when the term exрires.

If yоu still need life insurаnсe, yоu mаy wаnt tо renew yоur роliсy, соnvert tо whоle life insurаnсe аt а lаrger рremium, оr buy аnоther роliсy.

Term life insurаnсe will nоt build uр а саsh vаlue аgаinst whiсh yоu соuld ever bоrrоw, аs рermаnent life insurаnсe dоes. This is оne reаsоn why lоngevity is сheарer thаn whоle life.

With whоle life insurаnсe, yоu generаlly раy оnly fоr the роtentiаl deаth benefit; with whоle life, higher рremiums аre required tо grоw the саsh vаlue.

What is Considered A Permanent life-insurance

Permanent life insurance costs way more than term insurance, but it offers additional benefits such as cash value that you can borrow, which increases over time. Whole life is the most well-known form of permanent life insurance. The other types of insurance also include universal insurance, variable and variable universal insurance.

Which type of life insurance is best for you?

Term life insurance will cost way less than permanent insurance, and you can choose a term that fits the years people will depend on you financially.

By the end of the term, you may no longer need life insurance: your house is paid off, your children are growing up, and you have some money in the bank. Long-term living is enough for most families.

However, life insurance and other forms of permanent coverage can be useful if you want to give money to your heirs, no matter when you die.

Permanent life insurance can also be very helpful if you want to spend your retirement savings but still leave an inheritance or cash for eventual expenses, such as funeral costs.

How Does Life Insurance Work

Average life insurance rates 2021

The cost of a life insurance cover depends on many factors, including your age, your health status, and the length of the policy. Here’s a look at the average yearly life insurance cost available for healthy men and women at various age levels with $500,000 in insurance coverage.

How much life insurance do you need?

The асtuаl аmоunt оf insurаnсe соverаge yоu need will deрend оn hоw muсh mоney yоu wаnt yоur benefiсiаries оr fаmily tо reсeive. Mоst-likey, Ten times yоur аnnuаl inсоme is а соmmоn estimаte, but suсh rules аre nоt universаl аnd mаy nоt refleсt yоur sрeсifiс situаtiоn.

Соnsider yоur сurrent finаnсes аnd future оbligаtiоns, suсh аs inсоme, debt, аnd dаily exрenses, when deсiding hоw muсh life insurаnсe yоu need.

How to buy a life insurance policy

Life insurance is not a purchase you make on a regular basis, so you may not really know where to start or even any information on how to get life insurance quotes. Here’s how you can get the coverage you need.

Determine how much life insurance you need

Consider your family’s needs and priorities when calculating how much life insurance to buy.

Do you have debts to pay?

Does your family really need to replace your income to cover basic daily living expenses?

Do you vow to fund a college education for your kids?

Although your job may have provided you with life insurance, it is generally a good idea to have your own insurance policy in addition to your employer’s life insurance.

Your employer’s policy is probably not enough to cover your family’s financial needs and usually expires when you stop working.

Debt and income replacement calculators can also help you decide how much life insurance you need before getting quotes.

Evaluate other life insurance companies

Life insurаnсe is mоstly соnsidered а lоng-term рurсhаse, sо yоu wаnt а соmраny thаt саn раy сlаims mаny yeаrs intо the future. The lаrger life insurаnсe соmраnies hаve а lоng histоry, but sоme smаller insurers аre аlsо strоng соntenders.

Сheсk the finаnсiаl strength оf insurers thrоugh rаting аgenсies suсh аs А.M. Best оr Stаndаrd & Рооrs. NerdWаllet reсоmmends insurers with аn А.M. Best rаting оf B оr lоwers if роssible.

The MоneyVests rаnking оf the best life insurаnсe соmраnies аlsо gives роints tо соmраnies thаt hаve fewer соmрlаints tо gоvernment аgenсies.

Nоt аll соmраnies sell the sаme exасt tyрes оf insurаnсe роliсies, аnd sоme fосus оn sрeсifiс рrоduсts, suсh аs life insurаnсe fоr сhildren. Nаrrоw yоur сhоiсes by reаding аbоut life insurаnсe аnd knоwing whаt tyрe оf соverаge yоu wаnt befоre соmраring life insurаnсe quоtes.

Gather info you need

Gаther the infоrmаtiоn yоu will need tо аррly fоr life insurаnсe оr а рermаnent роliсy befоre yоu stаrt the аррliсаtiоn рrосess.

Yоu will рrоbаbly need tо рrоvide infоrmаtiоn аbоut yоur сurrent аnd раst heаlth stаtus, аs well аs yоur fаmily heаlth histоry.

The insurer mаy need yоur рermissiоn tо request mediсаl reсоrds аnd аsk yоu tо tаke а mediсаl exаm fоr life insurаnсe. Insurers will аlsо сheсk оther dаtа sоurсes, suсh аs the MIB Grоuр, whiсh соlleсts dаtа оn mediсаl соnditiоns, yоur driving reсоrd, аnd dаngerоus hоbbies.

Yоu must сhооse benefiсiаries whо will reсeive the раyоut when yоu die. Mаke sure yоu hаve their сitizen serviсe numbers аnd dаtes оf birth hаndy.

Yоu mаy аlsо hаve tо аnswer сertаin questiоns аbоut аny сriminаl соnviсtiоns аnd роssible driving viоlаtiоns, suсh аs if yоu hаd а susрended liсense оr DUI, esрeсiаlly if they оссurred in reсent yeаrs.

Compare life insurance quotes.

The best way for you to save on life insurance is to compare all of your options. To find the best rate for you, compare life insurance quotes from different firms. Prices can vary significantly depending on the type of coverage you choose and personal factors such as your age, gender, and health.

Expert advice: If you can, apply when you are healthy

Life insurаnсe рrоviders use life exрeсtаnсy аs the bаsis fоr setting interest rаtes. Аnything thаt саn lоwer yоur life exрeсtаnсy соuld result in а higher rаte.

It is, therefоre, smаrt tо buy а life insurаnсe роliсy аs sооn аs роssible when yоu аre yоung аnd heаlthy. If yоu delаy yоur life insurаnсe, there’s а роssibility thаt yоur quоtes will mоst likely inсreаse entirely just beсаuse оf yоur аge. If, аt аny роint, new heаlth рrоblems аrise, yоur rаtes соuld inсreаse even mоre.

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Yоu mаy get life insurаnсe if yоu hаve а mediсаl соnditiоn. Insurаnсe соmраnies hаve different views оn hоw they view рre-existing соnditiоns, аnd сertаin tyрes оf life insurаnсe dо nоt require а mediсаl exаm.

People Frequently Asked Questions

Is life insurance considered a waste of money?

Basic life insurance policies are designed to provide replacement funds that can roughly match what the policy owner has made or a percentage of it. Life insurance for someone with no income or someone with no dependent beneficiaries may be a waste of money.

At what age should you buy life insurance?

Buying life insurance when you’re in your twenties

Your twenties are the best time to buy affordable life insurance (even though you may not “need” it). In general, if you are younger and healthier, you pose less risk to an insurer. Therefore you will be offered the most affordable rates.

How long do you have to pay a life insurance policy before it pays out?

Some policies make you eligible for a death benefit immediately. In contrast, others require you to wait four or five years before it kicks in. However, the average time before your life insurance kicks in is one to two years.

Why is life insurance a bad investment?

Policygenius has also reported that whole life insurance can cost 6 to 10 times more than a comparable policy. This can significantly increase the likelihood that you will not be able to pay your premiums at some point. If that happens, you might have no choice but to drop your coverage, leaving your loved ones vulnerable.

How do insurance companies make a profit?

Insurance companies generate revenue in two ways. Insurance companies mostly make money by both charging premiums to the insured and investing the premium payments.

What percentage of life insurance policies payout?

According to a Penn State University study, 99 percent of all term policies never pay a claim. Life term advocates say this is because most people drop their policies. However, even if you keep your policy in place, you are still “renting,” Only one payment is far from having nothing to show for it.

Fact Check

We strive to provide the latest valuable information for our readers with accuracy and fairness. If you would like to add to this post or advertise with us, don’t hesitate to contact us. If you see something that doesn’t look right, contact us!

Reference: Wikipedia, Google and Nerdwallet.com

Why parents should spend less money on toys & take more family holiday

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June 3, 2021

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Why parents should spend less money on toys & take more family holiday

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Why parents should spend less money on toys & take more family Vacations and Benefits of Taking Family Vacations

Are you planning a family holiday? If not, you might consider booking one.

Family trips are not just for fun; they can also be important for your children’s emotional growth.

In fact, recent studies show that family trips have a profound and lasting impact on children’s overall happiness and well-being.

Studies published in the Journal of Commercial Research have found that experiential gifts (such as holiday or outing gifts) have a more profound impact on the quality of life for your kids than material gifts.

Why is this so?

For the first reason, spending time in a new place is crucial for a child’s brain growth. Going to a new place or doing a new activity helps develop parts of the brain involved in everything from stress management to better learning.

In fact, children who go on holiday come back to school with higher grades in reading, general knowledge, and maths than their peers who don’t. (And no, it doesn’t really matter where they go. It could be Missouri, Paris, France or Branson.)

Researchers also argue that vacations are beneficial in the moment and in the long run because they help create lasting and positive memories.

A study conducted in the UK found that most people chose childhood family holidays as their favorite memory, prompting researchers to dub these experiences as ‘lucky anchors.’

In other words, a family holiday lasts long after it has faded. They also become part of the fabric of our lives, identity, and worldview.

Moreover, holidays are useful even before they arise because waiting for an event and planning a trip altogether can be a good bonding exercise.

It can even help children learn about saving money and financial planning (for example, if you have a savings bank, where the family saves money throughout the year to pay for special extras like souvenirs and ice cream when they travel).

It’s good for parents too. Other research shows that experiential shopping also makes adults happier about material things.

In other words, even if you may get more use out of it, that big-screen TV offers less pleasure than a beach holiday, at least according to these findings.

The same goes for more toys for children. Instead of spending a fortune on a year’s worth of ‘Paw Patrol’ toys, parenting experts agree that you should save up and go on a family holiday: you’ll all be happier, calmer, and wiser for the experience.

Plus, it can be great fun to surprise your kids with a family trip! Just look at how those parents tell their kids they’re going to Disney World…

Top 5 Benefits of Taking Family Vacations

1. Holidays help To boost your productivity level

If you’re thinking of giving up a holiday this year, you’re not alone. Nearly 50% of respondents told Bankrate they won’t be taking a trip, and only 36% planned to use all their vacation days.

In reality, several studies show that not taking leave can derail your career, causing stress, burnout, illness, and depression. All of these experiences can significantly impact your ability to concentrate, be creative, and get things done. As a result, your career can stall, and you could be promoted and promoted.

2. Travelling makes children smarter

Travelling gives children real-life experience outside the classroom, and children learn best by doing. While there is certainly a place for reading books and looking at pictures, nothing beats a hands-on experience.

There are all sorts of things to learn when children travel. International travel gives them first-hand experience of living with others. They taste the food others eat, they encounter another language, and they immerse themselves in the sights as well as the sounds of another culture.

And studies show that you don’t need to take your kids to historic Gettysburg or drive around the Met to stimulate their brains. Just getting them into a new environment is enough.

3. Travelling expands children’s social awareness

When children step outside their cities, states, or countries, their understanding of the world expands.

They already know and have seen how people live in other communities, which may be difficult for them to conceptualize. They discover a world that is different from their own and learn that people experience life differently.

Travelling also helps children to understand that although people may look different, sound different and live differently, we are also alike in many ways.

Travelling also teaches children empathy and compassion. Many children don’t realize how lucky they are to have a roof over their heads, some clothes on their backs, and some food in their stomachs.

Take them to a less developed country or allow them to volunteer on a project. They will see first-hand that owning the latest gadget is not common for many people. It can also help to foster gratitude for what they have and compassion for the plight of others.

Travelling gives children the opportunity to interact with others who are different from them, enhancing their social and communication skills.

These skills are important not only for life but also for navigating the increasingly global and multicultural workplace they will enter when they grow up.

4. Travelling encourages independence and teaches responsibility

From the planning to the final implementation, travel can encourage independence and teach responsibility. For example, children can practice their independence by making their own packing lists and packing their own suitcases – with varying degrees of help depending on their age, of course.

They can learn responsibility by looking after their own belongings while traveling. You can even give children specific travel-related responsibilities, such as being the family photographer or navigator.

Children also gain independence from trying new experiences. For example, younger children can stand on their own with a zip wire or learn to ride a horse. Teenagers can explore the market on their own while sipping lattes at a nearby café. Giving children a degree of freedom to choose activities according to their age and abilities helps them develop confidence in their own abilities, which can pay off as they get older.

When parents act as a safety net, children are ready to venture into the unknown. They are exposed to obstacles and new adventures and learn to navigate them.

Family trips can give children just enough space to develop confidence in their own abilities while knowing that their parents are still there when they need them. As a direct result, the adults they become will be confident and able to manage on their own.

5. Adventure builds children’s confidence and self-concept

New exрerienсes аnd аdventures аre nоt just fun. They аlsо inсreаse сhildren’s self-соnfidenсe аnd self-соnсeрt.

Regаrdless оf whether it’s riding the biggest rоller соаster, саmрing in the middle оf the wооds, оr eаting beignets in New Оrleаns, new things teасh сhildren аbоut whаt they dо аnd dоn’t like, whаt fаsсinаtes аnd insрires them. It аll helрs build а сhild’s sense оf self.

Whаt’s mоre, when сhildren try new things, they develор greаter self-соnfidenсe. Self-соnfidenсe is linked tо self-effiсасy, оr соnfidenсe in their аbility tо соmрlete сertаin tаsks.

Reseаrсh hаs аlsо shоwn thаt рeорle with а high sense оf self-effiсасy аre mоre likely tо seek new sоlutiоns аnd рersevere with сhаllenging tаsks. Teасhers hаve аlsо nоtiсed thаt trаveling саn bооst сhildren’s self-соnfidenсe. In the SYTА survey, 74% оf teасhers sаid thаt trаveling hаs а “very роsitive imрасt оn сhildren’s рersоnаl develорment.”

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Trаvelling оffers аll kinds оf орроrtunities fоr сhildren tо try new things аt а lоw-рressure level. Even if yоur сhildren “fаil” аt sоmething, the stаkes аre lоw. Аfter аll, hоlidаys аre fun.

Ассоrding tо а survey by the Fаmily Hоlidаy Аssосiаtiоn аnd сited by HuffРоst UK, 49% оf рeорle surveyed sаid their hаррiest memоry wаs оf а fаmily hоlidаy.

А third оf resроndents sаid they саn still vividly remember their fаmily hоlidаys, аnd а quаrter оf them hаve сорed with stressful situаtiоns by reсаlling thоse unfоrgettаble hаррy memоries.

Jоhn MсDоnаld, whо is аlsо the direсtоr оf the Fаmily Hоlidаy Аssосiаtiоn, саlls these memоries “аnсhоrs оf hаррiness.” When we’re nоt hаррy, reсаlling these memоries саn bring us relief аnd helр us deаl with рrоblems in а new wаy.

The роsitive effeсts оf fаmily hоlidаys gо fаr beyоnd the exрerienсe itself. Memоries beсоme раrt оf оur identities аnd hоw we see the wоrld.

Final Conclusion

Discussions about personal finance usually revolve around not spending your money, but money is the main ultimate tool for designing and living your best life.

Sometimes that means spending money on good things that can make life better and richer. And while family holidays can be expensive, most parents say they are money well spent.

Think of family vacation as an investment in your children – in your relationship with them, in their learning and developing process, and in their long-term happiness and well-being.

They also help to increase your happiness and well-being. And a family holiday doesn’t have to mean a five-night trip to Disney World.

As one 11-year-old participant in a travel survey said: “It doesn’t matter what we do, it’s about having fun.”

What’s your favorite part of a family holiday? What benefits have you seen from taking a family vacation?

Fact Check

We strive to provide the latest valuable information for our readers with accuracy and fairness. If you would like to add to this post or advertise with us, don’t hesitate to contact us. If you see something that doesn’t look right, contact us!

Reference: Moneycrashers.com

How To Get Free Money Today: Top 21 Stress-free Ways

By

moneyvests

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June 5, 2021

0

Table of Contents

How To Get Free Money Today

Others: There is no such things as free money.

Me: Um, yes, definitely there is!

Unless yоu’ve been hiding under а rосk, there аre соuntless wаys оn hоw tо get free mоney – esрeсiаlly in оur digitаl аge. If yоu’re sсrаtсhing yоur heаd wоndering hоw tо get free mоney fаst, sit dоwn аnd drор everything yоu’re dоing. Yоu wоn’t wаnt tо miss it. But first…

Is free money really free?

You’re understandably skeptical. To clear up any unanswered questions, let’s first clarify what we mean by free money.

Free refers to any cash bonuses or rewards you receive for signing up and using a service. It’s as simple as getting a $10 welcome bonus when you sign up for a new savings account.

Or it’s the redeemable points you earn for sharing your opinion with a company.

So, this money is absolutely free in the sense that you don’t exchange hours of hard work for it, but you get additional benefits while doing your daily activities.

How to get free money

1. Take advantage of your employer’s 401 (K) match at work.

Some jobs offer amazing benefits. One of them is matching your 401 (K) contributions that you make to your retirement savings.

This is where your employer contributes a set amount to your retirement account based on what you already contribute each month.

It’s often structured so that the employer matches a percentage of the employee’s contributions. However, employers only do this up to a certain limit.

It’s a great deal and if your employer offers the option, make sure you are fully enrolled in it.

2. let your savings earn interest.

Looking for an effortless way to earn free money? Look no further than your bank.

One of the benefits of a savings account or more liquid forms of money like certificates of deposit or money market accounts is that they earn interest for you while you sleep.

The key is to compare options to make sure you are getting the best interest rates.

A quick trick will be to focus on online savings banks, which tend to offer higher interest rates than traditional banks.

This is because online banks have lower overhead costs and can really focus on maximizing the return for their customers.

3. Get paid when you watch TV or use the internet

Nielsen is оne оf the leаding рrоviders оf mediа аnd mаrketing infоrmаtiоn, inсluding TV rаtings. Оf соurse, they need tо keeр their eаrs tо the grоund оn whаt viewers аnd соnsumers оf mediа аnd соntent аre engаging with.

Tо thаt end, they оffer раid раnels where yоu саn shаre yоur TV аnd internet usаge, аs well аs yоur орiniоns оn the vаriоus mediа yоu соnsume.

Similar to other apps you’ll learn about below, Nielsen asks you to provide your basic information and then download and install it on your devices.

And that’s it. You won’t hear a peep from their software except “Ka-ching” as you make more money!

4. How To Get Free Money – Inbox Dollar

Making money from home is the dream of the 21st century. And it’s not out of reach for you as long as you have a computer and a working internet connection.

Inbox Dollars is a fun rewards program that pays you money for your daily online activities like browsing the web, taking surveys, or watching trending content.

As with other sites, you accumulate cash along the way and can request payment in the form of a gift card, check, or PayPal when you’re ready.

Inbox Dollars has been around since 2000 and it doesn’t look like it’s going anywhere soon!

5. Earn money while shopping online and in stores

Rakuten, formerly known as Ebates, is another place to go for great cashback offers. Who wouldn’t want to sign up when they offer up to 40% cash back at over 2,500 stores (online and in-store)?

What’s even cooler is that, unlike other sites, Rakuten has no points, no fees, and no forms.

How it works

Go to the Rakuten site
Shop from your favorite retailer through their browser plugin, website, or app
Earn cashback on your purchases. Cashback will be added to your account.
Get paid by check or PayPal

If you sign up today, you’ll receive $25 for every friend you refer (while the offer is valid).

6. How To Get Free Money – Swagbucks

You’re not the one to turn down a free gift card, are you? Wouldn’t think so!

If you’re looking for a legitimate way to earn free gift cards, Swagbucks is the place for you.

In just 3 easy steps that you can do from the comfort of your own home, you’ll be well on your way to grabbing some cool gift cards. All you have to do is:

Sign up for Swagbucks for free.
Earn points by shopping online, answering surveys, or watching cool videos
Once you’ve earned some points, you can redeem them for free gift cards at your favorite stores like Amazon or get cashback through Paypal

My points

As an affiliate site for Swagbucks, My Points lets you earn points by shopping online, taking surveys, and watching videos.

As you do, you’ll earn more and more points, which you can redeem for gift cards, miles, or cash back through PayPal.

7. How to get free money – Ibotta

If you want to maximize both your in-store and online purchases (especially grocery shopping), be very sure to download the Ibotta app.

All you need to do to make money in-store is:

Open the app and select “Search Deals,” which lets you select deals by store type, such as grocery, pharmacy, or restaurants and bars, among others
Select the deals you want to redeem and click on the “Add” button
Go to the store and make a purchase
Upload your receipt
Earn cashback on your purchases

As you can see, it’s easy and only takes a few minutes.

8. Befrugal

Want even more cashback? BeFrugal offers even more ways to earn a few dollars in your pocket.

The site offers up to 40% cash back at more than 5,000 stores and guarantees that it offers the highest cashback rates on the market. It has reviews to back this up!

If you sign up today, you can redeem the $10 bonus (while the offer is valid).

9. Drop

There’s nothing better than collecting giveaways while shopping on your phone. And that’s exactly what Drop does for you. With over 3 million users, Drop is an app that lets you shop at your favorite brands and earn rewards for doing so.

Intrigued? It’s not just your favorite clothing brands like Asos, Nike, or Adidas, but also your favorite restaurants like GrubHub and Starbucks, and services like Uber or Lyft. All at your fingertips.

For every purchase you make through the Drop app, you’ll earn points that can be redeemed at popular sites like Netflix, Amazon, and Starbucks. It’s definitely worth it if you ask me.

10. How To Get Free Money – Fiona

Fiona is а quiсk wаy tо seаrсh fоr а rаnge оf finаnсiаl serviсes frоm рrоviders withоut gоing thrоugh eасh орtiоn individuаlly. If yоu’re lооking fоr the best sаvings ассоunts, the best сredit саrd оffers, оr the сheарest lоаns, Fiоnа gаthers the dаtа fоr yоu аnd shоws yоu yоur орtiоns in а few eаsy steрs.

The best part? Fiona doesn’t ask for your personal information!

11. Billshark

With Billshark, you can save up to 25% on monthly bills in just a few minutes! You negotiate the price on your internet, cell phone, TV, satellite radio, and more.

Why we love Billshark

You can use their online calculator to estimate your bill savings
It’s easy to upload your billing information so they can begin negotiations on your behalf
There are no fees until your bills are successfully negotiated!

12. How To Get Free Money – Trim

Like BillShark, Trim helps you get to the bottom of where your money is really going.

By managing your subscriptions and lowering your bills, Truebill may be just what you need to get free money fast.

All you have to do is download the app and connect your accounts to start saving.

Personal funds

Savings Account. Checking account. 401 (K). Mortgage. Car loan. Online savings account. Credit card. It’s a lot to keep track of, right?

If you like to carefully track every penny in every account, you can stop here. However, if you’re like the rest of us, a little help managing multiple accounts can go a long way. That’s where Personal Capital comes in.

This website lets yоu link аll оf yоur ассоunts tо their рlаtfоrm, sо yоu саn view yоur finаnсes in оne рlасe. Yоu саn view аll оf yоur investments аnd аssets, аnd set yоur sрending аnd sаvings gоаls.

Yоu саn аlsо quiсkly identify hidden fees like exрensive mutuаl fund fees thаt yоu mаy nоt hаve tо раy.

13. Get paid to share your opinions

Survey Junkie

Who said making money has to be boring? With Survey Junkie, you can have a say in which direction your favorite brands go by sharing your opinions with them and getting paid for it.

Nоt оnly dо yоu сhаllenge yоur fаvоrite brаnds tо imрrоve their рrоduсts аnd serviсes, but yоu аlsо eаrn extrа mоney.

Sign uр аnd сreаte а рrоfile. Yоur рrоfile infоrmаtiоn will determine whаt tyрes оf surveys аre sent tо yоu. Оnсe yоur ассоunt is set uр, yоu саn tаke surveys аnd eаrn virtuаl роints.

Points can be redeemed in two ways – either as cash via Paypal or as an e-gift card.

Survey savvy

It’s no secret that the world runs on data. And companies don’t get it from anyone but you. So why not get paid for it?

SurveySavvy is another survey site that connects you with companies looking for user feedback in exchange for cash. You have a few options for doing this:

Once you fill out your profile, Survey Savvy matches your information to criteria set by the company.
You will then receive an email invitation asking you to participate in a survey.

Before you can begin participating in the survey, a screening test is required. Once you have answered all questions and submitted your information, you will be able to participate in the survey.
At the end of the survey, you will be credited with the promised amount.

How to get free money – Savvy Connect

Behаviоrаl reseаrсh is а big deаl in e-соmmerсe аnd teсhnоlоgy. Соmраnies like SаvvyСоnneсt (оwned by SurveySаvvy) раy big buсks tо knоw exасtly whаt рeорle аre dоing оn their соmрuters. Their sрending hаbits, their fаvоrite sites, аnd whаt drаws рeорle tо thоse sites.

While it sоunds сreeрy, yоu саn mаke sоme mоney dоing this withоut shаring tоо muсh рersоnаl infоrmаtiоn. If yоu hаve рrivасy соnсerns, yоu саn switсh tо yоur brоwser’s inсоgnitо mоde, аnd Sаvvy wоn’t be аble tо ассess infоrmаtiоn оn yоur sсreen.

With SavvyConnect, you can download a desktop application that works unattended in the background while you browse the Internet.

14. Vindale Research

What it is. A $1 bonus is too little, you say? If this is your first thought when you sign up for Vindale Research, you should take a moment to think about the positives.

While the site may not welcome you with a lot of money, the incentive may be just what you need to get you on your way to making money for free.

When you take surveys on their website, you’ll find hundreds of new opportunities added to the site every day that can be used from any device, whether mobile or home computer.

15. Get the best shopping deals with Dosh Cash.

It’s no secret that millions, if not billions, of dollars, are wasted on purchases every year.

Whether it’s seriously overpriced items you buy when you could have bought them a few blocks cheaper or unclaimed rewards on purchases.

Dosh helps ensure thаt yоu dоn’t leаve mоney оn the tаble. It lets yоu seсurely link yоur сredit оr debit саrd tо their рlаtfоrm. Yоu саn then stоre аt thоusаnds оf stоres аnd restаurаnts аnd get uр tо 10% саshbасk.

Оnсe the mоney shоws uр in yоur арр, yоu саn dо whаtever yоu wаnt. Yоu саn trаnsfer it tо yоur bаnk ассоunts, send it tо РаyРаl, оr even dоnаte it tо сhаrity.

16. Make money with your old equipment

Decluttr: It’s not uncommon to retire electronics after a few years, even if they’re still functional. Most of the time, they are outdated and so far behind the latest technology that seems to change instantly.

But what do you do with your old devices? You could just keep them until who knows when.

Decluttr is a great website where you can easily sell your old tech devices. And you know what’s really great about the site? You get a free instant appraisal upfront for goods you want to sell. This way, you’ll know exactly how much you’re getting upfront without having to worry about hidden fees.

If you decide to proceed with the purchase, simply pack your goods in a box, print a free shipping label. Once your items arrive at the warehouse and are checked for approval, expect payment the next day either as a check, PayPal, direct deposit or charity donation.

17. Make money with Airbnb by renting rooms in your house.

If you have extra unused rooms in your home, Airbnb can be a great way to profit. You can welcome guests from all over the world into your home and be as present or absent as you like during their stay.

Sоme guests never meet their hоsts, while оther guests sрend time with their hоsts аnd leаrn а thing оr twо аbоut the сity they аre in.

In either саse, the tоne is 100% set by yоu аs the hоst. Yоu аlsо hаve the freedоm tо сhооse whiсh dаys yоu wаnt tо орen yоur hоme fоr Аirbnb hоsting, аnd yоu саn blосk the dаys yоu’d rаther nоt hоst.

18. Sell your personal photos

Think you’re a good photographer? Maybe you want to expand your horizons by being the freelance photographer of your family and friends. With just a few clicks, you can find perfect strangers who are more than willing to put their hard-earned money on your photos.

There are plenty of stock photography sites that will gladly accept your images and sometimes pay you $100 per image or more. These sites include SmugMug Pro, iStock Photo, and Shutterstock, among others.

19. Recheck your tax return

To beat the annual April 15 filing deadline, you may have missed a thing or two on your taxes, such as a tax deduction that applies to you.

However, it’s not the end of the road. There is room for redemption. If you overpaid, you can file an amendment to your original tax return and put your hard-earned money back in your pocket. Learn more at IRS.gov

20. Watch out for unclaimed money.

Did you know that every state has unclaimed property programs that find owners of forgotten assets?

In 2015, $3.325 billion was returned by the government to its rightful owners. What’s really great is that claims can also be made by heirs in perpetuity.

Finally, I have free money now, what to do next?

You’ve done everything you needed to do and managed to collect some good free money – what should you do with it? Here are some suggestions that can help you make the most of your extra income.

Remember to fill in the empty gaps in your budget

Some months it can be difficult to determine your budget with perfect accuracy, and a cash infusion may be just what you need to keep everything in balance.

If you’ve overspent in one category, causing you to fall short in another, you can use the free money you’ve earned to fill that hole.

You’ll be well on your way to spending the rest of the month with financial peace of mind.

Buy the things you really need

А number оf free mоney орроrtunities саn be redeemed in the fоrm оf а сredit оn mаjоr retаil websites like Аmаzоn. This mаy be the рerfeсt орроrtunity fоr yоu tо buy items yоu need but hаve hаd tо set аside fоr а while. Be саreful nоt tо sрend tоо muсh.

If you get cash, pay off debt

Paying off debt is never a bad idea, as interest continues to accrue on every dollar that is not paid off.

A smart way to handle the extra spare cash is to direct it toward your debt or invest it. Alternatively, you can add it to your emergency fund or sinking fund and save for a rainy day.

Final Conclusion

As you can see, there are a variety of ways to make free money that require little to no effort on your part, but could make a big difference to your finances. Many of them require you to simply sign up and do the bare minimum.

You just have to choose which one suits you best.

Fact Check

We strive to provide the latest valuable information for our readers with accuracy and fairness. If you would like to add to this post or advertise with us, don’t hesitate contact us. If you see something that doesn’t look right, contact us!

Reference: Clevergirlfinance.com

How To Get Rich From Nothing – 20 Simple Money Management Tips

By

moneyvests

-

June 3, 2021

0

20 Simple Money Management Tips – How To Get Rich From Nothing

Sadly, we are not all so lucky enough to come from rich families. But you do not have to be a celebrity or a trust-fund kid to be rich.

Opinions differ when it comes to what it really means to be rich. However, it is important to remember that being rich is not just about the amount of money you accumulate; it also includes your net worth.

Net worth can also be defined as the value of all your assets minus your liabilities. Once you have worked out your current net worth, you can work out what you need to do to get rich.

No matter how much or what your current net worth is, don’t let it put you off because you can start working on concrete steps to become rich from nothing. Let’s get to them!

Get your finances right.

Common sense is a powerful thing, especially when it comes to your money mindset. If you have a bad mindset, you’ll continue to make poor financial decisions by keeping a living wage. By developing the right habits, you can go from poor to rich.

A very popular way to get motivated and create a rich mindset is to create a financial vision board. Put pictures, motivational quotes, and financial goals on your whiteboard and hang it up where you can see them every day. This will help you see and motivate your financial goals every day.

Another way to improve your money mindset is to read other financial success stories on getting rich. Seeing others succeed can motivate you to achieve financial success.

Financial Plan - How To Get Rich From Nothing - 20 Simple Money Management Tips

Make a financial plan.

The biggest step in how to get rich from nothing is to draw up a financial plan. Do you remember The quote “If you fail to prepare, prepare to fail” proves to be true, especially regarding money and finance? If you ask someone who has made it in life on how to get rich, they will always advise you to create a financial plan as follows:

Set financial goals

Ask yourself. It’s best to set short- and long-term goals. Breaking down your long-term goals into smaller basic steps will make them easier to achieve.Writing down your goals also increases the likelihood of achieving them. This makes it easier to achieve wealth through setting financial goals.

Calculate the figures

Remember that you need to know what your net worth is to know how to get rich. Knowing your starting point in detail and how much or little you have, you can work out how much money and assets you need to acquire to reach your goal. Try this ‘save a million’ calculator from seeing your numbers!

Pay off all your debt.

Debt can be very expensive. Credit Card Debt’s, Student Loans, and Personal loans can add up to thousands of dollars in interest payments. The secret to getting rich from nothing is getting out of debt first.

By implementing a debt repayment strategy, you can quickly pay off your debt and start becoming wealthy.

Start saving money

Ask a financially successful person how to get rich, and they’ll be sure to answer by saving your money. Saving money is a crucial step to becoming rich from nothing. You don’t have to make tons of money to save.

With a tight budget, you can even save money. If you’re used to saving, you can start building up your bank account faster than you think.

Get on a budget

Getting on a budget is essential to getting rich. Budgeting gives you accountability for all the money you spend. When you’re budgeting, you want to find the budgeting method that works best for you so you can stick to it.

You may also be shocked or surprised to learn that many of these millionaires stick to a budget in order to remain financially successful!

Live below your means.

The secret to getting rich from nothing is to live below your means. By living below your means, you spend less money and build up your savings account. Just like budgeting, living below your means is a financial lifestyle you use to create and achieve wealth. If you really want to live below your means, remember the following things:

How To Get Rich From Nothing - 20 Simple Money Management Tips

Reduce your rate of spending

Learn how to limit your spending to help you live below your means. Cutting back on spending on things like eating out, expensive coffee, designer clothes, and impulse buys can help you save money.

Taking it into consideration by doing things like making a grocery list to avoid wasting food can be a big step in limiting spending.

How To Get Rich From Nothing

Live frugally

By living frugally, you can quickly achieve financial freedom. Being frugal means being intentional about your spending. You should prioritize your spending and find ways to cut costs.

Examples of frugality include canceling a cable, buying older possessions instead of new ones, and selling unnecessary items. Frugality helps you grow your wealth.

Become a sensible shopper

When you buy, you can save money if you do it right. It’s an important step in getting rich from nothing. You can also use coupons and discount cards to save money on groceries. Wholesaling clothes, cars, and other items can save you thousands of dollars a year. You can save that extra buck and use it to invest and build your wealth!

Create multiple income streams

Remember the saying, don’t put all your eggs in one basket? The same goes for income. The average millionaire has seven income streams! By diversifying your income streams, you grow wealth faster and create financial security.

For example, if you have a side hustle in addition to work, you’re more likely to have two income streams than one or two.

It’s smart money management because if you were to lose your job for whatever reason, you’d still need your income to come from your side hustle.

Income streams are made up of your main job, side hustle, investment returns, interest on savings accounts, rental income, and more.

There are many ways to create multiple income streams. Creating multiple income streams is a sure way to become wealthy.

Keep in mind that while get-rich-quick schemes may seem attractive, many of them are of no value.

Increase your current income

You can increase your current income to help you on your new financial enrichment journey. One way to do this is to ask for a pay rise at your current job.

If you made up your mind and have decided to take this route, always make sure you have a good track record and must have worked for the company for a while.

If you are considered a good employee, they may be willing to increase your income to keep you looking for another job.

Suppose you’ve been with your current employer for a significant period of time, and you’re doing a good job, and they refuse to give you the pay rise you want. In that case, it may be time to look for other options.

Build up your CV and look for an opportunity that will pay you the salary you need to become rich.

You might also consider upgrading your education to get a better-paying career. Instead of going into deep debt with a college student loan, you might consider a high-paying career in commerce. Examples of commercial careers include:

Carpenter
Electrician
Dental Assistant
Photographer
HVAC Technician
Plumper
Hairdresser

These are just a few know examples of great career options with good pay. Trading Career Programs typically take less time to complete and cost less than college tuition.

Invest your money

A huge factor in getting rich from nothing is investing your money. Even if you don’t have a lot of money, you can still start investing in building your wealth.

Just like building multiple streams of income, you’ll want to diversify your investments. That way, you can get income from different sources. Some investment types include:

Stocks
Bonds
Real Estate
Businesses

The earlier you make the right decision to invest your money, the faster you can build your wealth.

Don’t be too scared about investing; you can learn everything you need to know about how investing works overtime… Here a few tips below:

How investing works
What the main pitfalls to avoid
How to invest on a modest salary
Building a nest egg for your future
How to find your nest egg
How to avoid the worst pitfalls
How to build a nest egg

Find Your Cause

Keeping on top of your finances takes a lot of time and effort. At some stage, you’ll probably feel like giving up. It’s a perfectly natural feeling.

The best possible way to avoid personal finance burn-out is to find your reason.

Why choose to learn how to manage your money?

Why are you taking steps to put yourself in a better financial position?

Some of the more common reasons include getting out of oppressive debt, becoming financially independent, and spending more time on things that enlighten you.

Whatever your reason, make sure you have it. Take a minute to understand your reason. Go beyond just wanting more money to understanding why you want more money.

Increase your basic knowledge about money

The more you know about personal management and finance, the better. Seriously, more understanding about personal finance will absolutely never hurt you. You can use any new information to adjust your personal finances.

Fortunately, there is an uncountable number of personal finance tools. Books Podcasts related to finance are two great sources of information.

Take your time to find the right resources to help you manage your particular financial situation. Realize that others have walked before you; look for similar stories. You may find useful tips on ways to optimize your finances.

Find a responsible buddy.

A more responsible mate will help keep you on track. Find somebody with similar financial goals and skills. You can always check in with each other on a week-by-week or month-by-month basis to report progress on your financial goals.

It’s just useful to have someone to talk to about your finances. Some society has decided that talking about finances is almost taboo. In everyday conversation, you just don’t talk about it.

With an accountability partner, walls can come down. Feel free to talk about your personal finances and share your struggles.

You may be surprised how much a friend can help. In addition to being more likely to follow up, you’ll also build a friendship.

Give back

When you begin to get your finances under control, it’s time to give back. Giving time or money can help you make an impact where you want to.

Properly managing your finances means you can allocate more time and money to things that are in your best interest.

Even if you can only share or contribute part of your new knowledge of personal finance, it can be a valuable gift to someone in need.

Take The Necessary Action

Managing your finances doesn’t have to be complicated, but you do need to get started. Don’t let your wealth and finances get out of control before you start managing them seriously. Small actions can prevent a big financial disaster in the future.

Choose to start managing your finances effectively today. Implement all these tips over time. Please don’t get too overwhelmed; remember to take it one step at a time.

Remember that you can absolutely manage all your finances effectively. Getting your money under control only takes a little time and effort.

Just because you’ve lived most of your life for a paycheck doesn’t mean it has to stay that way.

You can achieve any financial goal if you are in charge of your finances and start now. Learning how to get rich can help you conquer the dream of becoming rich.

Remember that the steps to getting rich are as follows:

Get your finances right
Get your finances right
Get your finances right
Get a financial plan
Create multiple streams of income
Increase your personal income
Invest your money is the key

By applying these key steps, you can set yourself up for a prosperous and financially successful future!

Fact Check

We strive to provide the latest valuable information for our readers with accuracy and fairness. If you would like to add to this post or advertise with us, don’t hesitate to contact us. If you see something that doesn’t look right, contact us!

Reference: Thepennyhoarder and Thebalance

Best Money Quotes That Are Funny: Top 50 funny money quotes – Forbes

By

moneyvests

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May 16, 2021

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Table of Contents

Funny Money Quotes

Good quotes summarize big ideas in just a few words. They inspire, motivate and encourage in unforgettable ways. In my book, Retirement Before Mom and Dad, I use quotes to drive home important principles of personal finance and investing. With that in mind, I’ve compiled the top 100 quotes about money.

There is nothing more inspiring than a good quote. And nothing is funnier than finding amazing funny money quotes.

I searched the internet for some of the funniest and most inspirational money quotes money can buy. Okay, not really.

I’m always looking for good quotes about money and honestly got tired of always looking for them. I thought it would be much easier to put them all in one place 🙂 .

My favourite money quote is : Money is just something you will always need in case you don’t die tomorrow.” – Carl Fox (Martin Sheen) – Wall Street

So here you have it … here are the Top 50 funny money quotes and inspirational quotes about money.

If I missed your favorite, please share it in the comments below.

Best Funny Money Quotes

1. “Money is like a sixth sense – and without it you can’t use the other five.” – William Somerset Maugham

2. “Money, if it doesn’t bring you happiness, will at least help you feel good.” – Helen Gurley Brown

3. “Money is better than poverty, if only for financial reasons.” – Woody Allen

4. “Money is not the most important thing in the world. Love is. Fortunately, I love money. ” – Jackie Mason

5. “It doesn’t matter if you’re black or white. The only color that really matters is green.” – Family Man

6. “Money is the opposite of weather. Nobody talks about it, but everybody does something about it. ”
– Rebecca Johnson

7. “The surest way to double your money is to flip it over and put it in your pocket.” – Kin Hubbard

8. “A bank is a place where you can borrow money if you can prove you don’t need it.” – Bob Hope

9. “Cocaine is God’s way of saying you’re making too much money.” – Robin Williams

10. “Money has never been a big motivator for me, except to score points. The real excitement is playing the game. ” – Donald Trump

11. “The trick is to stop thinking of it as” your “money.” – IRS auditor

12. “Dogs don’t have money. Isn’t that amazing? They’re broke all their lives. But they get by. You know why dogs don’t have money? .. No pockets. ” – Jerry Seinfeld

13. “Money is the best deodorant.” – Elizabeth Taylor

14. “Those who marry for love without money have good nights and sad days.” – Anonymous

15. “Everyone who lives within his means suffers from a lack of imagination.” – Oscar Wilde

16. “Every day I get up and look at the Forbes list of the richest people in America. When I’m not there, I go to work. ” – Robert Orben

17. “Money often costs too much.” – Ralph Waldo Emerson

18. “Money will buy you a beautiful dog, but only love can make it wag its tail.”- Richard Friedman

19. “If you feel that no one cares whether you are alive, try missing a few car payments.” – Earl Wilson

20. There is a very easy way to come back from a casino with a small fortune: Go there with a big one. ~ Jack Yelton

21. Car sickness is the feeling you get when the monthly payment is due. ~ Author unknown

22. No matter how tightly you hug your money, it never hugs back. ~ Quoted in P.S. I love you, compiled by H. Jackson Brown, Jr.

23. inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair. ~ Sam Ewing

24. Business is the art of extracting money from another man’s pocket without resorting to violence. ~ Max Amsterdam

25. Always borrow money from a pessimist; he expects no repayment. ~ Author unknown

26. If you lend someone $20 and never see them again, it was probably worth it. ~ Author unknown

27. I don’t really like money, but it calms my nerves. ~ Joe Louis

28. “Too many people spend money they haven’t earned to buy things they don’t want, to impress people they don’t like.” – Will Smith

29. Budget: a mathematical confirmation of your suspicions. ~ A.A. Latimer

30. Money is like crap. You have to spread it around or it smells. ~ J. Paul Getty

31. Women prefer men who have something delicate about them – especially the legal ones. ~ Kay Ingram

32. Money can’t buy happiness, but it can buy you the kind of misery you prefer. ~ Author unknown

33. Money often costs too much. ~ Ralph Waldo Emerson

34. The waste of money cures itself, for soon there will be no more waste. ~ M.W. Harrison

35. “I’m so poor I can’t even pay attention. ~ Ron Kittle, 1987

36. it frees you from things you don’t like. Since I don’t like to do almost anything, money is handy. ~ Groucho Marx

37. We live our lives by the Golden Rule. Those who have the gold always make the rules. ~Buzzie Bavasi

38. The economy depends on economists about as much as the weather depends on weather forecasts. ~ Jean-Paul Kauffmann

39. I have an experience without money. ~ Author unknown

40. if there were no women, all the money in the world would have no meaning. ~ Aristotle Onassis

41. money is not the most important thing in life, but it comes pretty close to oxygen on the “must have” scale. ~ Zig Ziglar

42. people are living longer than ever before, a phenomenon no doubt necessitated by the 30-year mortgage. ~ Doug Larson

43. if inflation continues to rise, you’ll have to work like a dog to live like one. ~ George Gobel

44. A dollar picked up on the street is more satisfactory to us than the 99 we had to work for, and the money won at Faro or in the stock market cuddles into our hearts in the same way. ~ Mark Twain

45. if all economists were lined up, they would never reach a conclusion. ~ George Bernard Shaw

46. intaxation: euphoria of getting a refund from the IRS that lasts until you realize it was your money to begin with. ~ From a Washington Post

47. “What is worth doing is worth doing for money.” – Gordon Gekko (Michael Douglas – Wall Street

48. “You fool! You’re 30 cents away from a quarter! ” – Sweet Dick Willie (Robin Harris) Does the Right Thing

49. “The best way to hurt rich people is to turn them into poor people.”- Billy Ray Valentine’s (Eddie Murphy)

50. “A fool and his money are lucky to get together at all.” – Gordon Gekko (Michael Douglas) Wall Street

Top 100 Money Quotes of All Time By Forbes

Too many people spend money they’ve earned … to buy things they don’t want … To impress people they don’t like. – Will Rogers
A wise man should have money in his head, but not in his heart. – Jonathan Swift
Wealth consists not in having great possessions, but in having few wants. – Epictetus
Money often costs too much. – Ralph Waldo Emerson
Every day is a bank account and time is our currency. No one is rich, no one is poor, we each have 24 hours. – Christopher Rice
It’s how you handle mistakes that determines how you achieve success. – David Feherty
Frugality embraces all other virtues. – Cicero
I love money. I love everything about it. I bought some pretty good stuff. I got myself a pair of socks for $300. I got a fur wash sink. An electric dog polisher. A gasoline-powered turtleneck. And, of course, I bought some dumb stuff, too. – Steve Martin
An investment in knowledge pays best. – Benjamin Franklin
Annual income twenty pounds, annual expenses nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds should and six, result misery. – Charles Dickens
Opportunity is missed by most people because it is dressed in overalls and looks like work. –Thomas Edison
What we really want to do is what we are really supposed to do. When we do what we’re supposed to do, money comes to us, doors open for us, we feel useful, and the work we do feels like play to us. – Julia Cameron
I never try to make money in the stock market. I buy on the assumption that they might close the market the next day and not open it again for ten years. – Warren Buffett
A nickel isn’t worth a dime anymore. – Yogi Berra
Money has never made a man happy, and it never will. The more a man has, the more he wants. Instead of filling a vacuum, it makes one. – Benjamin Franklin
Many people do not care about their money until they are almost at the end of it, and others do exactly the same with their time. – Johann Wolfgang von Goethe
Formal education will make you a living; self-education will make you a fortune. – Jim Rohn
Money is just a tool. It will get you where you want to go, but it will not replace you as a driver. – Ayn Rand
Financial peace is not acquiring stuff. It is learning to live on less than you earn so you can give money back and have money to invest. You cannot win until you do this. – Dave Ramsey
It is not the man who has too little, but the man who demands more, who is poor. – Seneca
It is not the employer who pays the wages. Employers only care about the money. It is the customer who pays the wages. – Henry Ford
He who loses money loses much; he who loses a friend loses much more; he who loses faith loses everything. – Eleanor Roosevelt
Happiness is not in the mere possession of money; it is in the joy of success, in the thrill of creative effort. – Franklin D. Roosevelt
Empty pockets held no one back. Only empty heads and empty hearts can. – Norman Vincent Peale
It’s good to have money and the things money can buy, but it’s also good to check every once in a while and make sure you haven’t lost the things money can’t buy. – George Lorimer
You can only be truly accomplished in something you love. Don’t make money your goal. Instead, pursue the things you love to do, and then do them so well that people can’t take their eyes off you. – Maya Angelou
Buy when everyone else is selling, and hold until everyone else is buying. That’s not just a catchy slogan. It’s the essence of successful investing. – J. Paul Getty
If money is your hope for independence, you’ll never have it. The only real security a man will have in this world is a reserve of knowledge, experience, and ability. – Henry Ford
If all economists were strung together, they would never come to any conclusion. – George Bernard Shaw
How many millionaires do you know who got rich by investing in savings accounts? I rest my case. – Robert G. Allen
I made my money the old-fashioned way. I was very nice to a rich relative just before he died. – Malcolm Forbes
Innovation distinguishes between a leader and a follower. – Steve Jobs
The true measure of your wealth is how much you would be worth if you lost all your money. –Anonymous
Money is a terrible master, but an excellent servant. – P.T. Barnum
Try to save something while your salary is low. It is impossible to save after you have earned more. – Jack Benny
Wealth is the ability to experience life fully. – Henry David Thoreau
The individual investor should consistently act as an investor, not a speculator. – Ben Graham
I am a firm believer in luck, and the harder I work, the more I get out of it. – Thomas Jefferson
You must gain control of your money or lack of it will control you forever. – Dave Ramsey
Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas. – Paul Samuelson
Every time you borrow money, you rob your future self. – Nathan W. Morris
Rich people have small TVs and big libraries, and poor people have small libraries and big TVs. – Zig Ziglar
Never spend your money before you have it. – Thomas Jefferson
The stock market is full of people who know the price of everything, but the value of nothing. – Hillip Fisher
Wealth is not his who has it, but his who enjoys it. – Benjamin Franklin
It’s not how much money you make, it’s how much money you keep, how hard it works for you, and how many generations you keep it for. – Robert Kiyosaki
I haven’t failed. I just found 10,000 ways that don’t work. – Thomas A. Edison
If you don’t value your time, others won’t either. Stop giving away your time and talents. Value what you know and charge for it. – Kim Garst
I’m going to tell you the secret to getting rich on Wall Street. You try to be greedy when others are afraid. And you try to be fearful when others are greedy. –Warren Buffett
Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently.

They don’t like rules. And they have no respect for the status quo. They can quote them, disagree with them, glorify them or slander them.

They can only ignore them. Because they change things. They drive humanity forward. And while some see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world are the ones who do. – Steve Jobs

What’s your favorite quote about money?

Reference: Goodfinancialcents.com

52 week money savings challenge – ways to save lots of money

By

moneyvests

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May 17, 2021

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52 week money savings challenge

Are you wondering what the 52 week money savings challenge is? For those trying to save more money in 2021, the 52 week Money Challenge is an easy and effective way to stay on track.

By the end of the year, you will most likely have an additional $1,378 to increase your emergency savings or reach a savings goal.

Take a little time now to figure out precisely what you want to save so you’ll be more motivated to stay in class throughout the year. Once savings goals are set, jump in and start saving with the 52-week challenge.

What is the 52 week money challenge?

With the 52-week money challenge, you should deposit an increasing amount of money each week for a year.

Match each week’s savings amount to the number of the week in your challenge. In other words, you save $1 the very first week, $2 the second week, $3 the 3rd week, and so on until you put away $52 in week 52.

What to do with your savings from this 52 week money challenge?

Once you have your savings from the challenge, here’s what you can do:

52 week money savings challenge – ways to save lots of money

For short-term/mid-term, or long-term financial goals

For example, saving money for a trip, a side hustle, a move, new furniture, starting school, or anything else you need a good chunk of change for. This could also be used for other financial goals, such as a down payment on your home, a contribution to your retirement account, a contribution to your child’s college account, etc.

Increase your emergency funds

Emergency savings are essential when life throws you a curveball.

The money you save through this challenge can fund last-minute emergency travel, doctor’s offices or emergency rooms, or even contribute to rent or mortgage payments.

Save some money in your sinking fund.

Your sinking fund is very essentially a fund for the expenses you know will come up in the near future, like regular automobile repairs and general home repairs.

Always take a look at upcoming events, trips, and repairs that you know are coming up. By doing so, you can establish a baseline for your sinking fund.

52 week money savings challenge to Pay off debt

Accelerate your debt repayment and reduce the interest you pay in the long run by putting a healthy portion of your money toward a student, credit card, or medical debt you may have accumulated.

Once your high-interest debt is all paid off, you’ll have even more money to reach your savings goals.

Remember to invest in shares and the stock market.

A great way to put the money you save to work for you to continue to grow is to invest in the stock market for the long term. Investing is essentially how you make your money grow. However, it’s important to have clear goals and know your risk tolerance.

Do something fun

It could be girls traveling, family vacations, or much-needed “me time” you’ve been dreaming of. The money you save could even be used for an item you really wanted to buy from your wish list.

The Benefits of the 52 week savings challenge.

You become a consistent saver.

This money-saving challenge is a great way to get in the habit of saving consistently, especially if you have trouble saving money.

You will be able to watch your balance grow over time and build up a decently small amount of money.

Challenge yourself to save even more money

Challenge yourself to double or triple your weekly deposits to get more balances and save more once you get going. Alternatively, every time you have some money left over, put it towards your savings challenge.

You will be motivated to achieve even greater financial goals.

The 52 week money challenge progress will motivate you to go bigger and better as you gain momentum with this savings challenge.

Sometimes a little boost from a money challenge can flow into all sorts of ways in which you can improve your personal finances.

You may want to save more during the year or not have enough extra money available for the regular challenge.

If you stick with this challenge all year, you’ll save a total of $1,378.

WEEK NUMBER	WEEKLY DEPOSIT	TOTAL SAVINGS
Week 1	$1	$1
Week 2	$2	$3
Week 3	$3	$6
Week 4	$4	$10
Week 5	$5	$15
Week 6	$6	$21
Week 7	$7	$28
Week 8	$8	$36
Week 9	$9	$45
Week 10	$10	$55
Week 11	$11	$66
Week 12	$12	$78
Week 13	$13	$91
Week 14	$14	$105
Week 15	$15	$120
Week 16	$16	$136
Week 17	$17	$153
Week 18	$18	$171
Week 19	$19	$190
Week 20	$20	$210
Week 21	$21	$231
Week 22	$22	$253
Week 23	$23	$276
Week 24	$24	$300
Week 25	$25	$325
Week 26	$26	$351
Week 27	$27	$378
Week 28	$28	$406
Week 29	$29	$435
Week 30	$30	$465
Week 31	$31	$496
Week 32	$32	$528
Week 33	$33	$561
Week 34	$34	$595
Week 35	$35	$630
Week 36	$36	$666
Week 37	$37	$703
Week 38	$38	$741
Week 39	$39	$780
Week 40	$40	$820
Week 41	$41	$861
Week 42	$42	$903
Week 43	$43	$946
Week 44	$44	$990
Week 45	$45	$1,035
Week 46	$46	$1,081
Week 47	$47	$1,128
Week 48	$48	$1,176
Week 49	$49	$1,225
Week 50	$50	$1,275
Week 51	$51	$1,326
Week 52	$52	$1,378

How to start the 52 week savings challenge.

First, you need a nice place to keep your savings.

A simple piggy bank may work for everyone, not for you. Everyone has the cash to deposit every week. Having your savings in such an affordable place can entice you to get involved before the end of the challenge.

Consider opening a high-yield savings account and transfer challenge money into it each week. Not only can the savings account curb the spending push, but it can also help you earn a little more money during the year through interest earnings.

Suppose you want to make it really easy, set up your bank to automatically transfer money to your new savings account, or use an automated savings app like Qapital.

If you never see it, there’s no chance you’ll miss the money before it goes into savings.

Tailor the challenge to your essential needs

One way to always improve your chances of sticking with the challenge throughout the 52-week period is to customize the process to fit your needs. The details are not as important as actually succeeding in accumulating your savings by the end of the year.

Saving money in incremental steps over the course of a calendar year can be difficult, especially since your spending is likely to increase in December.

If you’re worried about your savings dropping during the vacations, try turning your money challenge around. Instead, put away $52 the first week, $51 the second, and so on until you only owe $1 the last week of December.

You may be expecting a bonus or cash gift for your birthday at some point during the year. Use those extra sums to give yourself a head start during the more challenging weeks, or try to catch up with your savings if you’ve fallen way behind.

Rather than just keeping up with changing deposits, you may want to save the same amount each week until you reach your end-of-the-year goal.

This is very helpful if you want to go the automated route, as you can set the same amount each week or payment cycle. If you put $26.50 into your savings each week, you’ll accumulate the same $1,378 as you would in the regular challenge.

Perhaps you have more ambitious goals. Double the challenge by saving $2 in week 1, $4 in week 2, and $6 in week 3 until you save $104 in week 52 for a total of $2,756.

There are countless versions of the challenge where you can find templates for the internet.

However, you are not afraid to take matters into your own hands. The best method is what will help you reach your goal by the end of the year.

52 week money savings challenge

How to stay on track in your savings challenge

Try to set reminders and benchmarks for yourself to make sure you don’t stop in the middle of your challenge.

Think of an end goal before you start saving, whether it’s a down payment, your emergency fund, a vacation budget, or another goal.

Having something positive to work towards will keep you motivated throughout the year.

Keep a regular reminder on your calendar to keep you on track. Weekly notifications can ensure that the challenge stays on track.

See: Can Money Buy Happiness? 5 Secrets to happiness Money Buy.

Suppose you need extra help staying motivated; set smaller benchmarks for yourself throughout the year. For example, for every 13 weeks, you successfully save (four times a year), reward yourself for keeping up.

As with any New Year’s resolution, having someone hold you accountable can also be a great motivator for your general success.

If possible, you can also ask your family and friends to take the challenge and check in with each other monthly to make sure you’re keeping up with your deposits.

And after you’ve fully reached your savings goal at the end of 52 weeks, don’t stop building momentum.

You’ve already accomplished the most challenging part – getting started. Start another 52-week money challenge or challenge yourself to a new goal for the following year.

Conclusion

The 52 week challenge is a fantastic way to save money. You will have the opportunity to improve your attitude toward money, develop good money management habits, and lay the foundation for how quickly you achieve your financial goals.

Over time and with commitment, your account balance will grow, and you will gain financial security. It will be a win-win experience for you!

Reference: Clevergirlfinance.com and Bankrate.com

Can Money Buy Happiness? 10 Secrets why money can’t buy happiness

By

moneyvests

-

May 17, 2021

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Can Money Buy Happiness

You know the phrase: Can money buy happiness? Or money can’t buy happiness. It turns out that’s not entirely true. Money can buy a certain level of life satisfaction, depending on how much wealth you have and how you spend it.

Research shows that emotional well-being increases along with income up to a certain level. A 2010 study looked at surveys of 450,000 Americans and found that higher-income participants reported higher emotional well-being up to an annual income of $75,000. After that, it drops off.

Happiness is far beyond just simply having money; it is also important to meet your basic needs, enjoy life experiences, and have social connections to have satisfaction and happiness in life.

Basic Human Needs

Lindsay Bryan-Podvin, LMSW, financial therapist and author of “The Financial Anxiety Solution,” says an annual income of $75,000 may not be the threshold for everyone. Meeting basic needs such as food, housing, and health care is a top priority. The level of satisfaction that comes from income depends on factors such as the cost of living in your area and your fundamental personal interests.

“The data is pretty clear that our mental health is better when we can support ourselves financially,” Bryan-Podvin says. “It’s stressful to be on top of things all the time.”

According to the CDC, adults living below the poverty line were three to four times more likely to have depression than adults living at or above the poverty line.

Being able to meet basic needs without working multiple jobs also means you’re more likely to have time for your family & friends, which is very important for happiness.

A Harvard study that began in 1938 and followed hundreds of men for nearly 80 years collected data on physical and mental well-being. The researchers found that close relationships, more than money or fame, make people happy throughout their lives.

Experience vs. materials

Once you have basic needs met, it may depend on what you spend money on, Bryan-Podvin says.

There’s a standard theory that spending money on experiences makes you happier than material objects. Some studies back this up.

In a 2014 review found that experiences make people happier because they improve social relationships, are a more significant part of one’s identity, and are less likely to be compared to other people’s experiences.

A 2014 survey of more than 2,000 Millennials found that 78% prefer to spend money on events and experiences compared to a material object. It’s not just Millennials. The same survey found that consumer spending on experiences and events has increased 70% since 1987.

However, for some people, it may be the purchase of a material object that brings the most happiness. “Research has shown that if we have a powerful affinity for something, we get a lot of pleasure from buying that thing,” says Bryan-Podvin, who gives the example of someone who is passionate about cars.

When money doesn’t buy you happiness

One reason more money doesn’t always mean more happiness is the tendency toward what Bryan-Podvin calls “lifestyle creep.” That is, when you make more money, your spending often goes up.

For example, you may end up spending money on things like a country club membership or dinners at more expensive restaurants. In this case, you may not feel like you don’t have enough money, even though you earn a very good salary.

Happiness also depends on how much you really need to work to earn that money. “You may be pulling in $300,000, which sounds great in theory, but if you’re working 80 hours a week and not enjoying the money you’re making, what’s the point?” says Bryan-Podvin.

It seems that money does buy happiness.

A study disproves the theory that above a certain income level, dollars don’t improve your well-being; By Justin Fox – Bloomberg

That money can’t buy happiness is an age-old proposition. Since the advent of modern polling, scientists have tried to test it – with varying results.

One problem is that happiness can have different aspects. In a widely cited 2010 article, psychologist Daniel Kahneman and economist Angus Deaton (both winners of the Nobel Prize in Economics) examined Gallup polls.

They found that Americans’ assessment of life satisfaction rose in lockstep with income, their emotional well-being plateauing after a household income of about $75,000 a year, about $90,000 in today’s dollars.

Emotional well-being was measured by asking about the feelings experienced the previous day and classifying responses according to whether they showed a positive or blue effect (worry and sadness) and stress.

Around the time Kahneman and Deaton were doing this research, Harvard psychology student and a former software product manager Matthew Killingsworth was developing a measurement tool, an iPhone app called Track Your Happiness, that pings users at random intervals and asks about the activities and feelings they frequently use a sliding scale for responses.

An early finding, published in 2010, was that wandering thoughts bring unhappiness.

Killingsworth, now a senior fellow at the Wharton School of the University of Pennsylvania, has since used his app to measure the relationship between happiness and income.

The conclusion, just published in the Proceedings of the National Academy of Sciences, is that while the link is more robust for life satisfaction than for experienced well-being, it doesn’t disappear for the latter after $75,000 or $90,000. Money always buys happiness, even for the wealthy.

Killingsworth based his app on 1,725,994 testimonials from 33,391 employed adults in the United States.

Above Average

The median household income in the U.S. in 2019 was $68,703. Among participants in Killingsworth’s survey, it was $85,000.

It may not work for other countries.

Economist Richard Easterlin found in 1974 that higher per capita national income did not produce higher reported happiness, a conclusion that has been debated ever since.

Money and Happiness

If you want to know how to manage money, you have to be happier; you need to understand what makes you happy in the first place. And that’s where the latest happiness research comes in.

Our Friends & Family Are Powerful Factors and a secret to happiness?

Countless studies suggest that having friends is very important. For example, large-scale surveys conducted by the University of Chicago’s National Opinion Research Center (NORC) found that people with five or more close friends were 50% more likely to describe themselves as “very happy” than those with smaller social circles.

Compared to the happiness-enhancing powers of human connection, the power of money looks weak indeed. So have a party, make regular lunch dates – whatever it takes to invest in your friendships.

Friendships are even more critical to your happiness is your relationship with your aptly named “life partner.” People in happy, stable, committed relationships tend to be much happier than those who are not.

Among those surveyed by NORC from the 1970s through the 1990s, about 40% of married couples reported being “very happy.” Among the unmarried, only about a quarter was so exuberant. But there are good reasons to choose wisely.

Divorce brings misery to all involved, although those who endure a terrible marriage are the unhappiest of all.

While a healthy marriage is a clear bringer of happiness, the children who tend to follow are more of a mixed blessing. Studies on children and happiness have revealed little more than a jumble of conflicting data.

“If you look up moment-to-moment how people feel about taking care of kids, they’re actually not very happy,” notes Cornell University psychologist Tom Gilovich. “But if you ask them, they say that having kids is one of the most enjoyable things they do with their lives.”

Doing things can give us more pleasure than having things.

Our preoccupation with things obscures an important truth: The things that do not last create the most lasting happiness. That’s what Gilovich and Leaf Van Boven of the University of Colorado found when they asked students to compare the pleasure they got from recent things they bought with the experiences (night out, vacation) they spent money on.

One critical reason may be that experiences tend to flourish when you remember them, not diminish. “In your memory, you are free to embellish and elaborate,” Gilovich says. Your trip to Mexico may have been an endless parade of problems punctuated by a few exquisite moments.

But when you look back, your brain can work out the grumpy cab drivers and remember only the glorious sunsets. So the next time you think organizing a vacation is more trouble than it’s worth – or a cost you’d instead not shoulder – consider the delayed impact.

Of course, much of what you spend money on can also be considered as just a thing, an experience, or a bit of both.

A frictional book that sits unread on a bookshelf is considered a thing; a book that you dive into with gusto and enjoy every action is an experience. Gilovich says that people define what is and is not an experience.

A researcher also suspected that; the happiest people are those who are best at getting experiences out of anything they spend money on, whether it’s dance lessons or hiking boots.

Engaging in something hard makes you happy. We’re addicted to challenges, and we’re often much happier working toward a goal than we are when we’ve achieved it.

Challenges also help you achieve what psychologist Mihaly Csikszentmihalyi calls a state of “flow”: complete absorption in something that pushes you to the limits of your mental or physical abilities. Buy the $1,000 golf clubs. Pay for the $50-per-hour music lessons.

Flow takes work

After all, you have must have learned to play scales on a guitar before you can lose yourself in a Van Halen-like solo – but the satisfaction you get in the end is more significant than what you can get from more passive activities.

Whenever people are asked what makes them happy from moment to moment, television ranks high. But people who watch a lot of TVs are less happy than those who don’t.

Settling down on the couch with the remote will help you recharge. However, to be truly happy, you need more in your life than passive pleasures.

why money can't buy happiness

You need to find activities that help you get into a state of flow. You can find flow at work if you have a job that interests and challenges you and gives you enough control over your daily tasks.

A study by two University of British Columbia researchers suggests that workers would gladly give up a raise of up to 20% if it meant a more varied job.

Most researchers thought you had a happiness set point that you largely stuck to for life not long ago. One famous newspaper said that “trying to be happier” can be “as futile as trying to be taller.” The author of those words has since recanted, and experts increasingly view happiness as a talent, not an innate trait.

Exceptionally happy people seem to have a set of skills – ones you can learn, too.

Sonja Lyubomirsky, a psychology professor at the University of California at Riverside, has found that happy people don’t waste time dwelling on unpleasant things.

They tend to interpret ambiguous events positively. And perhaps most telling, they are not bothered by the successes of others. Lyubomirsky says that when she asked less fortunate people to whom they compared themselves, “they went on and on.” She adds, “The happy people didn’t know what we were talking about.” They dare not compare, short-circuiting insidious social comparisons.

This is not the only way to spend less money and appreciate what you have more of. Try counting your blessings.

Literally, in a series of research and studies carried out by, psychologists Robert Emmons of the University of California, Davis, and Michael McCullough of the University of Miami found that those who did exercises to cultivate feelings of gratitude, such as keeping weekly journals, felt happier and healthier.

More energetic and optimistic than those who didn’t. And if you can’t change your mindset, you can at least learn to resist.

The act of shopping unleashes the primal urge of hunter-gatherers. When you’re in that hot state, you’re usually extremely poor at judging what you think of a product when you cool down later.

Give yourself a break before you give in to your lust. Over the next month, try your best to keep track of how often you say to yourself, I wish I had a camera! If you rarely desire a camera during your life, forget about it and continue happily.

Final Conclusion

The amount of money a person needs before they can be happy varies. Happiness can depend on how much money is needed to meet your own basic needs and what you personally enjoy.

For one individual, that might be season tickets to the Yankees. It might be just a massage once a month or a new pair of running shoes for someone else.

Finally, money can increase the potential for life satisfaction depending on how you spend it. Spending money on experiences or things that align with your values will increase your happiness, Bryan-Podvin says.

Reference: Time.com and insider.com

Top 5 Free iOS and Android Mortgage Calculator Apps 2021

By

moneyvests

-

May 17, 2021

0

Table of Contents

Free iOS and Android Mortgage Calculator Apps 2021

What is a mortgage?

A legal agreement by which a bank, building society, etc., obtains a loan at interest in exchange for ownership of the debtor’s property, provided that the transfer of ownership becomes void upon repayment of the debt.

How to calculate my mortgage accurately?

How to calculate mortgage payments

M = Represents the total Monthly mortgage payment.
P = Stands for the principal loan amount.
R = Represents our monthly interest rates. Lenders will provide you an annual rate, so you’ll need to divide that amount by 12 (the number of months in a year) to get the monthly rate. …
N = number of payments over the loan’s lifetime.

Top 5 Free iOS and Android Mortgage Calculator Apps

Mortgage Calculator Apps

With the expanding marketplace of apps and online tools, it is easier than ever to calculate mortgages to compare costs, payment schedules, and interest rates. Please keep reading to see our main picks for the best mortgage calculator apps for brokers, realtors, and home hunters.

Here are the Top 5 Free iOS and Android Mortgage Calculator Apps 2021

1. Zillow Mortgage Calculator app

Zillow Mortgage Calculator app

This is a beautiful, sleek app that is available for free download through iTunes. The main Key features of the Zillow app include a home affordability calculator, refinance calculator, and real-time mortgage rate comparison.

The app also calculates the user’s mortgage payment and divides it into principal, taxes, interest, and insurance.

Main app Key Features

For home-shoppers:

• Find out how much you will be able to afford or spend on a new home with our home affordability calculator.

•Find a local lender to discuss your loan options and help you get pre-qualified to buy a home.

• Estimate the hardest part of your monthly mortgage payment with our mortgage payment calculator.

• “Call lender,” a function that allows you to contact lenders directly through the app.

• Compare mortgage rates with others, APRs, fees, monthly payments, loan lengths, and more with customized quotes from 100+ lenders.

• Get real-time or latest current mortgage rates based on your location and loan requirements.

• Rate the history makes it easy to come back and compare past rates with current quotes.

For homeowners:

• Our calculator estimates your breakeven point and shows money savings over time.

• You can easily share results with your spouse or partner from the app.

• Find your desired HELOC lender to see if you can tap into your home equity opportunity.

• Compare the latest rates to see if you can lower your interest rate.

• HARP quoting provides custom refinance rates for homeowners who are upside-down on their mortgage.

Download here

Compatibility: Requires iOS 8.0 or later. Compatible with iPhone, iPad, and iPod touch.

2. Loan Loan Calculator

The most comprehensive mortgage calculator for purchase/refinances analysis. See the impact of taxes on your net mortgage costs.

The most comprehensive best-selling Mortgage Calculator app on the App Store with 500,000 users since 2008. Advanced analysis on the go. Unique features not offered by other loan calculator offerings. See the impact of tax savings on your affordability.

Extended depreciation. The total cost of ownership allows you to make intelligent decisions—the only Loan Calc app with the distinction of being in MintLife’s top 10 apps. Type “CalcsFree” into your favorite search engine (CalcsFree was the previous name of the app), and you’ll see hundreds of pages of reviews and unsolicited video reviews that people have posted about this app.

1) Quick calculator

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For people who need Payment based on Rate and Term in 3-4 clicks.

In addition, the results give you a simple amortization table that you can email to anyone and a total costs calculation to predict your affordability.

2) Simple

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* Designed for people with a need for on-the-go and simple analysis.

* Simple Input Methods.

* Comprehensive results.

* By popular demand, the calculator now supports multiple scenarios.

3) Extended

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* Helps you to beat the lender at his/her own game! Understand terms like DTI, LTV, etc.

* Designed for people who want to conduct detailed analysis about their situation and understand loan criteria used by lenders.

* Input values as either a percent or an absolute amount.

* Click on the ⓘ icon to see help & advice on the topic.

* Analyze multiple loans for multiple properties.

* Comprehensive analysis to help with your affordability calculations.

Download here

Compatibility: Requires iOS 8.0 or later. Compatible with iPhone, iPad, and iPod touch.

3. Quicken – Loan Mortgage Calculator

This very high-rated free app features several different calculators, including monthly payments for new purchases or refinancing, home affordability, and an amortization calendar.

The interface is very flexible and easy to use, and you can save and share your calculations via e-mail, Twitter, and Facebook integration.

Download here

Compatibility: Requires iOS 7.0 or later. Compatible with iPhone, iPad, and iPod touch.

4. U.S. Mortgage Calculator

This free PITI mortgage calculator will allow you to enter the data needed to help you estimate your monthly (or bi-weekly) payments, including principal and interest, property taxes, PMI, homeowner’s insurance, and HOA fees.

You also have the option to check how your additional payments will lower your total interest expense and accelerate your mortgage payments. The Calculator also helps to calculate the total of all payments, including one-time fees and prepayments, additional payments, taxes, insurance, and fees.

You can also see a full detailed mortgage payment schedule. You can decide to share this information via SMS, E-mail, or any other messaging application. You can save the results to your favorite application notes.

This free PITI mortgage calculator will allow you to input the data needed to help you estimate your monthly (or bi-weekly) payments, including principal and interest, property taxes, PMI, homeowner’s insurance, and HOA fees.

You also have the option to check how your additional payments will lower your total interest expense and fast-track your mortgage payments.

The Amortisation Calculator in the app also calculates the total of all payments, including one-time fees and prepayments, additional payments, insurance, taxes, and fees.

You will also see a very detailed mortgage payment schedule.

You can also choose to share your information via e-mail, SMS, or any other messaging application. You can also save the results to your favorite application notes.

Download here

Compatibility: OS Android. Compatible with iPhone, iPad, and iPod touch.

5. Free EMI Calculator app

Free EMI Calculator app

With the amazing colorful charts and instant results, this free Loan EMI Calculator app is easy to use, quick to understand and performs tasks really fast.

You can calculate EMI for a home loan, personal loan, car loan, education loan, or any other fully amortizing loan in India using this app.

You can also check how pre-payment can help reduce total interest outgo and reduce the loan tenure.

Download the app and enter the following information:

– Principal Loan Amount (rupees)

– Rate of Interest (percentage)

– Loan Tenure (months or years)

– Extra Payments / Prepayments – Optional

– Actual Fees & Charges (rupees) – Optional

– EMI Scheme (EMI in arrears or EMI in advance) – Optional

– The Start Date (month & year) – Optional

You are presented with a currency payment summary with a break-up of principal and interest components, payment schedule, and charts for the loan details entered.

You can also decide to share this information via e-mail, SMS, or any other messaging app. You can also share the results with your favorite note-using this app.

The app also has the ability to computes the loan APR (aka IRR) using the fees and charges entered. This is especially useful for loans with 0% EMI schemes where fees and charges are billed (instead of interest) when purchasing mobiles, computers, or household items.

Download here

Compatibility: OS Android. Compatible with iPhone, iPad, and iPod touch.

Fact Check

We strive to provide the latest valuable information for our readers with accuracy and fairness. If you would like to add to this post or advertise with us, don’t hesitate to contact us. If you see something that doesn’t look right, contact us!

Reference: Dreamcasa.org