Managing Your Finances Once Married What Is Interest Using Stops Helps You Make Money Trading Futures Can I Receive Federal Benefits If I Retire In Thailand Turning A Hobby Into A Business

It’s important to plan for your financial future beforehand so you have idea of what to expect. Once you get married, most newlyweds’ open a joint checking/saving accounts

Below is a list of 4 easy steps to take when determining your financial future.

Step 1-Determine your net worth

Net worth is the difference between assets and liabilities.

Make a list to figure out your net worth, make a list of all the things that you own and assign approximate values to each one. Then make a list of all your debts. Subtract these two numbers and you will have your net worth.

Step 2- Family accounting

You will need to decide who is going to manage your accounting. Is one partner going to manage the finances or will this be a shared responsibility? Are you going to choose to handle the finances independently, if not you will need to create a system of whose going to pay the bills.

Step 3- Set goals

Statistics are showing that 95% of senior citizens can’t afford to retire. Set goals and start saving for your future today. Create short-term goals and long-term goals. Make sure when you set your goals that you are actually striving for them so they should be adjusted to your spending lifestyle

Step 4- Plan for adjusting your finances once married

Many couples get married without having a financial plan in mind. It’s very important to discuss your financial situation before tying the knot that way everything is out in the open. If you don’t want to deal with thinking of financial strategies get help from a financial planner for any needed advice.

Unless you have a degree in finance, you probably don’t know all that you need to know in order to be an informed, responsible credit card user. Now you don’t need to be a finance expert to comprehend the basics covered in this article, but after reading it, you might feel like one the next time the subject comes up with your co-workers, friends, or family.

What is Interest?

If you borrow $5,000 from your grandma and promise to pay her back in six months, you might return $5,000 to her a year later. Grandma would probably be happy with that because she loves you. But if you wanted to borrow $5,000 from a bank, you know you would not get off the hook nearly as easily. The bank would almost definitely expect regular monthly payments, and would absolutely expect to be compensated in the form of interest. But compensated for what? So long as you pay back the money, why should the bank deserve any extra compensation?

Interest is first and foremost, compensation for what is known as “default risk.” When you borrow money from the bank, there is a chance you won’t pay it back. There’s an even greater chance that you won’t pay it back in full, or that the bank will spend time and money bugging you about late payments. If not for interest, it would only take one missed payment by one borrower for the bank to lose money. Therefore, the bank must charge interest in order to offset deadbeat debtors and make a little (or not so little) profit for itself. Otherwise, why be in business?

Secondly, interest is charged on loans because the use of money is “mutually exclusive.” If the bank has only $5,000 in its vault, it can’t lend $5,000 to you and to your sister. (Actually it can, but how banks are able to do this is well beyond the scope of this article). Imagine your friend wanted to borrow $50 from you, but if you lent the money to him, you wouldn’t be able to take your girlfriend out to a fancy dinner. How much “compensation” would make lending him the money worth it to you? How much would you have to add in to cover his “default risk?”

A third reason that interest must be charged is inflation. If you borrowed $5,000 in 1966 and paid it back in full 40 years later, much of the value of the money would have evaporated. In order to replace the buying power that $5,000 had in 1966, you’d have to come up with more than $31,000 in 2006 dollars. Inflation is a constant fact of life in America (and around the world), so at the very least, interest must offset it. In recent times, inflation in the US has been hovering around 3 percent per year.

How Do Credit Card Companies Determine Interest Rates?

Credit card companies exist to make money, and they do this by charging interest and fees. In order to attract the most business possible, they offer different interest rates and fee schedules to different people. In business lingo, this is called “price discrimination,” but don’t bother contacting your lawyer – this form of discrimination is perfectly legal (if a bit unfair at times).

Credit card companies consider your default risk, the cost of lending (taking into account the mutual exclusivity of money use), and inflation expectations in determining the interest rate you will pay. Obviously, only default risk is unique to you, and it is determined by your credit history. The better your credit, the lower the interest rate you’ll be offered.

Stay safe.

Sincerely, following article presents the very latest information on Futures. If you have a particular interest in Futures, then this informative article is required reading.

The more you understand about any subject, the more interesting it becomes. As you read this article you’ll find that the subject of Futures is certainly no exception.

To make money in the futures market, setting stops is at best an imprecise science and to some an art form involving a lot of trial and error, but it is an essential part of being a successful trader. An analogy is to compare the use of stops to buying insurance. Both are a necessary evil for survival in business. Should you avoid insurance altogether just because you’re not sure exactly how much you need, or because it will cost you a little money? No. Instead, you estimate and do the best you can, knowing in the end it will be well worth the effort for your long term preservation.

Where insurance limits risk of loss due to unforeseen disasters, stops limit your risk of loss on bad trade positions. Stops, properly placed, make it possible to take small losses and get out of a trade when a futures position moves against you, protecting your capital. Yet, some traders find the use of them distasteful and are willing to risk large losses of capital on an ill advised futures trade. Why do they do it? Simply because they don’t want to admit that they made a mistake in predicting market direction.

A vital key to earning money in the market, one that often separates a good trader from a bad one, is the ability to take small losses. Your goal, as a successful trader, is to take small losses and make big gains. If you do this, you’ll be profitable. But what if you are stopped out of a futures position you still want to trade? There is a good chance you can

buy it back later, and most likely at a better price, if the trade still has merit.

So far, we’ve uncovered some interesting facts about Futures. You may decide that the following information is even more interesting. Those of you not familiar with the latest on Futures now have at least a basic understanding. But there’s more to come.

Stops are valuable assists that should be used to limit risk and help you accept small losses when you are wrong and because they protect profits on winning trades. You must lock in your profit when you trade, or you can lose it. The use of a trailing stop can ensure that you keep your gains. A trailing stop is a stop order you place below the current price of a long position, progressively moving it up as the price of the position increases so that the stop follows the position up. Conversely, for a short position, you set a stop above the current price and then move it progressively down, following the position as it trends downward. This little technique will help keep you profitable and a happier trader.

This means that once you have a profit, you move your stop nearer to the current price so if and when the position moves against you, most of your new profits are safe. If the stop executes and you decide you want to trade the position again, you can buy it back at a better price than you sold it for and then ride it up again. That’s how a good trader makes and keeps money; you make money in the futures market by taking small profits multiple times and not risking too much waiting for one big win. Remember, in all markets, the pigs get eaten.

Don Jesel, a surviving futures day trader of 20 plus years.

That’s the latest from the Futures authorities. Once you’re familiar with these ideas, you’ll be ready to move to the next level. When word gets around about your command of Futures facts, others who need to know about Futures will start to actively seek you out.

It is possible to receive federal benefits in Thailand. To apply for Social Security benefits, you need to apply to the Social Security Administration 3 months before reaching the age of 62 by completing a questionnaire.

The U.S. Embassy can provide copies of the questionnaire. Once completed, the questionnaire is then sent to the regional Social Security representative in Manila, Philippines. They will then reply directly to the applicant and will provide additional forms, which need to be sent directly to the Social Security Administration in Baltimore, Maryland. The Social Security Administration recommends allowing 120 days for processing.

The address of the regional Social Security Representative is:

Social Security Administration

U.S. Embassy

1131 Roxas Blvd.

0930 Manila Philippines

The address of the Social Security Administration main office is:

Social Security Administration Office of International Operations

P.O. Box 17769

Baltimore, MD 21235 U.S.A

Most U.S. Treasury checks are sent first to the Embassy, which then distributes the checks to recipients. The Embassy suggests that checks be deposited directly into the recipient’s bank account. This helps prevent difficulties in cases of lost, stolen, misplaced or late checks, as well as delays in accessing funds due to bank clearance rules.

If you would like your check to be direct deposited into a bank account in Thailand, you need to contact Bangkok Bank. This is the only Thai bank in which Social Security payments can be direct deposited. Their address is:

Bangkok Bank Foreign Exchange Department

333 Silom Road

Bangkok 10500 Thailand

If you already receive Social Security or other federal benefits in the United States, and you intend to move to Thailand, please notify the Social Security Administration or other federal agency of your change of address. Your benefits will then be sent to your new address. Contact the Consular Section to advise us of your residence in Thailand and inquire about the procedures for having your benefit checks sent overseas or deposited directly into your account.

You may reach the Federal Benefits Unit of the Embassy at 0-2405-4272.

Many of us dream of being our own independent bosses by going into business for ourselves. And most of us would jump at the chance to do what we enjoy, as a vocation. Realizing that kind of dream may be easier than it sounds, and people do it all the time by doing to a business that keeps them involved in the hobby or pastime they are most passionate about in life.

If you think this is a path you want to take, make an inventory list of your favorite hobbies and areas of interest. You may have a talent that can be sold as a service, or you may have a hobby that will allow you to turn it into a business supplying products to others who share the same hobby.

For example, if you are a mountain biking enthusiast, you may notice the need for a book bike shop in your town. You could open one and put your interest in biking to good use, providing a valuable service to others who needs accessories, bikes, and bike repairs. Or if you live in a place where the biking attracts tourists and other visitors, you could start a guide service, and lead people on organized bike excursions for a fee. Many athletes parlay their talents into businesses this way, by becoming coaches, by sponsoring lines of sports products, or by participating in the sport in ways that involve the kinds of things we mentioned – opening a store, a guide service, or a repair shop.

There are retired law enforcement officers who start their own private security businesses, providing services like body guard work for VIPs or security patrols for industrial facilities. Sometimes artists open art supply stores, or musicians open music shops where they also charge a fee for teaching people how to play instruments. The possibilities are endless, and are limited only by your own enthusiasm and expertise in a particular subject. Do you enjoy gardening? You may be a perfect candidate for starting a landscaping business in your community.

But others make money by simply acting as consultants. For example, many retired firefighters become consultants to businesses that need advice on fire prevention, or to companies that make firefighting products. Some people who are tired of working in corporate America leave their jobs, and then consult about the same kind of work they used to do. Maybe you are tired of working as a number cruncher in the back office of a big company, but you could leave that job and make just as much or more money by helping small businesses with their accounting systems.

The sky’s the limit, and if you have a hobby that you convert into a job, chances are you will enjoy a high rate of worker satisfaction. That’s a huge perk for any kind of job.

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