Forex Vs. Commodity Market

Forex market is such a fascinating market in the world that everyone wants to invest and make the profit. The main reason behind this fascination is the quicker and bigger profit that you can make if you play smartly. Lots of patience and experience is required to make your every trade end in something positive. Quicker and timely decision can be handy in this game.

Observing the charts is not enough most of the times. Most of the online guides and tips tell you a lot about candlestick forecasting and predictions, but this is not just enough. We have the examples where all the calculations, mathematics and predictions failed about candlesticks and charts, and well-experienced predictor had to bear some significant loss. Why this just happened to them?

As I mentioned earlier that you have to be extra smart. You have to keep in mind everything that can change the value of the currency you are dealing with. It can be some news, some government policy, some accident, some event or even a war. You will have to keep an eye on such things which can affect the decision of the people about buying or selling of the currency pair you are dealing in.

There are individual websites which make your job more comfortable if you are trading with them. They can give you specific advice about buying or selling. They may show you the live charts, graphs, prediction theories and calculations and news bytes as well which may have any impact on the forex market. But again, you have to be extra smart so don’t rely on the news and information of a single website. Double verify everything before taking any decision in Forex Market.

Some people don’t want to deal in Forex Market rather they prefer to trade in commodities. Forex market is much volatile, and you can lose your investment in just a blink of an eye. It is not that case when you are dealing in commodities. Normally there are not such sharp jumps in the prices of commodities how much ever big the news is.

So, to trade safely, most of the people prefer to buy or sell commodities like Gold, Silver, Oil, and Copper. These are widely traded commodities worldwide. Oil and Gold are most traded commodities. The reason behind this preference is that Oil and Gold act more like currency pairs. You can see some sharp increase or decrease in the price of Oil and Gold.

If you want to trade in Oil or Gold, then you must keep an eye on news and charts for Oil and Gold Forecast. If you are confused, don’t invest rather wait or consult some expert. Doubts in your decisions can lead you towards loss. If you are new, follow some expert traders. Following option can be found on most of Fore Trading websites. Following some expert will let you learn and earn at the same time. But don’t follow blindly instead consider every action in trade and try to find out the reason behind every decision and soon people will be following you.

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Benefits of Having A Financial Planner

Financial planning goes beyond the calculated investments. Building a financial plan helps you visualize the “big picture” and set financial goals (i.e., both long-term and short-term). This is a crucial step in mapping out your financial future. And, a financial planner or financial advisor may just help you with that!

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BENEFIT #1: ENUMERATING ONE’S FINANCIAL GOALS

The first step that financial planners partake in is the identification of the client’s financial goals. For couples, this activity is enough to get the two individuals on the same page. It highlights their similarities and differences. The funny thing is that many Singaporeans spend more time planning their travels than planning for their financial goals (e.g., retirement fund).

BENEFIT #2: DETERMINING WHETHER YOUR GOALS ARE SMART

After listing down your financial goals, the financial planner visualizes how you can get there. How much do you need to save S$10,000 a year? Should you invest your income in mutual funds? A cost-benefit analysis will be done. This act will put each of your goals in a microscope to see whether they are SMART! SMART stands for Specific, Measurable, Attainable, Realistic, and Time-bound. The financial planner must ensure that both your goals and your timeline are attainable.

BENEFIT #3: HAVING PEACE OF MIND

Certified financial planners have years of education, training, and experience working with different clients of diverse situations. Their broad professional background aids in assessing your needs. They are qualified to give you advice that reflects the best practices of the financial industry. Simply put, having a financial planner gives a sense of peace when it comes to knowing that you have an in-depth financial strategy in place.

BENEFIT #4: HIGHLIGHTING THE MONEY MISTAKES YOU MAKE

Analyzing your holistic financial picture exposes the mistakes that you are currently making.

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For instance, you disregard some of your credit card debts. This leads to paying a significant amount of money for penalty fees. Said mistake will be highlighted to ensure that you can apply an efficient fix.

Sources: 1 & 2

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Avoid Making These Costly Mistakes When Buying A Laptop

For many Singaporeans, laptops have become an integral part of their lives. Saying that I cannot live without powerful device is an understatement. Without my laptop, I would be out of job. This article would not exist either! Laptops bring so much ease to our lives.

Whether you use yours for business or entertainment, laptops are easy to get. Unfortunately, this type of device can be costly! I would categorize it as a major investment. With that said, it is best to plan your purchase to avoid buyer’s remorse.

#1: GETTING THE CHEAPEST MODEL

One might think that the surefire way to save money is to buy the cheapest model available in the market. This may be easy for your wallet, but said model may not have all the necessary features. Given that the materials used in the cheapest models are found in the lower end of the spectrum, many of them lack the longevity that you crave for.

It is best to opt for a laptop that will serve all your needs. Make a list of your ideal specifications, must-have features, and other preferences. Compare this list to your viable options.

#2: SPENDING TOO MUCH

Do you really need the top-of-the-line MacBook Pro costing about S$3,488? Can the least expensive Pro (i.e., the 13-inch costs about S$1,898) satisfy your needs? Realistically speaking, some powerful desktop computers have lower prices.

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If you believe that quality depends on the price tag then, your belief may not be applicable to laptop shopping. Higher prices do not always equate to better product performances. Spending too much on a laptop can lead to buyer’s remorse. Not to mention, parts and repairs are usually more expensive for laptops than other counterparts.

#3: THINKING SIZE DOES NOT MATTER

Let us face it! Size matters when it comes to acquiring a laptop. A laptop’s size determines the design of the trackpad and the keyboard. You will most likely be cramped when opting for a device measuring less than 13 inches. Furthermore, a laptop with a bigger display allows more space to work in your desktop. Also, a “larger laptop” often gives a better viewing space and or a more expansive experience in general.

For frequent travellers, you may benefit more with small laptops such as the ultrabooks. Ultrabooks are not for everyone! Just because a product is in the front page of a tech review, does not mean that it is the best for you. A Chromebook may be cheap and portable, but it has a low storage space that will not suit the needs of a graphic designer.

#4: DISREGARDING THE ART OF “SHOPPING AROUND”

When buying a laptop or accomplishing a major purchase, it is important to do prior research. Investing your hard-earned money on the manufacturer price many not be always be a good idea. Most companies want to sell their products at top prices. Thus, you must consider shopping around.

Look for bargain deals provided by online retailers such as Amazon. Alternatively, you may hit up the nearest IT/Tech shops such as Courts and Challenger. For instance, Challenger’s www.hachi.tech offers 15% discount on the Surface laptop (T&C’s apply).

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Not to mention, the Great Singapore Sale is still on going. Imagine the beaming online and offline promotions ahead!

#5: IGNORING THE IMPACT OF THE FUTURE

At a heartbeat, you were swayed by a salesperson who highlighted the wonders of a touchscreen monitor. This new laptop may be good for now, but how about a couple of years down the road? Is a “normal” laptop more durable than its touchscreen counterpart? Think about it!

As assets, laptops move like cars. Its value plummets as time goes by! Remember that.

Sources: 1 & 2

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Effective ways to reduce your financial burden

Quite often the most important thing that you pursue in life is that sound financial situation that you’ve been dreaming for years. You can do so by pulling yourself off from the credit card debt burden. Pulling out of this financial burden isn’t that easy unless you keep following a disciplined and structured approach.

Check out some important steps that can actually help you out of debt:

  1. Evaluate your financial standing

You must know your current financial standing before even attempting to lower your credit card debt. Several experts are of the same opinion when it comes to addressing the core issues pertaining to money management . Once you’re aware of where you’re standing, you’ll certainly be able to hit the target. In doing so, you’ll need to be absolutely honest to yourself. For every card that you possess, you must keep a note of your debt and the interest that you’re required to pay.

  1. Pick a unique payoff strategy.

You may opt for a strategy that suits paying off your credit cards more effectively. You may consider paying off the card bearing the highest APR while meeting the minimum balance with your other cards. For this, you must draw a separate budget from that of your monthly budget. This is certainly a good way of lowering your debt. You’ll find more cash on hand after paying off your first card. Thereafter, you must consider the card with the next highest interest rate for paying off. Similarly, you have to choose cards and pay them off as you go lower down the order of their APR value. On the contrary, you may choose to go the other way round by picking the card with the lowest interest rate first and thus going up the order as you develop the snowball effect. However, you can’t resort to any of the quick cash loans while repaying your cards.

  1. Keep a note of all costs.

Create a list of all of your unavoidable and regular expenses like that of the minimum payments on credit cards, car maintenance, phone bills, insurance policies, cable connection, mortgage besides tracking your expenses pertaining to family trips, entertainment, and dining out. You may develop your budget on this foundation. You may derive a true and fair view of your overall monthly expenses by checking out your bank statements and credit card statements.

  1. Draw your budget.

You might need to cut down on some of your expenses. You’ll need to be realistic in your approach as you ought to bear with a few sacrifices. Cutting out is often not effective as that of cutting back. You may achieve a few big savings when you make a few amends in your domestic budget. However, you must remember that it’s often not easy to opt for an overhaul of your lifestyle. Your budget demands some breathing space so that you may cope with the unforeseen expenses more comfortably.

You may opt out of some services, which in turn helps you in cutting back much sooner than you expect. Segregate your monthly income for meeting a portion of your budget every week.

  1. Monitor your progress.

You must keep a track of your spending just to check if the expenses are dropping or mounting beyond your reach. Keep checking your progress towards an improved financial situation after every alternate month. You can’t see yourself in stress for a much longer duration.

You must have been through a lot while trudging your way through debt. Now, it’s your time to hold on to your patience and work your way out of it. You may check out your financial progress by setting reminders on a sheet a paper. Comparing your progress turns easier as you get it updated with your initial balances.

 

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Why Personal Loan Is Not As Daunting As It Sounds

All is fine and dandy when your life is nicely panned out for you, but as Singaporeans, we can never be too cautious. What if a once-in-a-lifetime opportunity knocks, and you suddenly require a larger-than-expected sum of money to seize this opportunity?

Opportunities can come in different forms in your various stages in life. There may be investment opportunities, a chance to go abroad on an exchange programme, or a chance to further develop your skill sets.

If you find yourself short on cash and need a sum of money to tide you over a short period of time, a personal loan can come in useful.

When we think about loans, most would frown upon it. We would assume that borrowers are incapable of managing their own finances, or that they are financially irresponsible. That is but a misconception, as personal loans are merely tools that can improve our lives if used in a responsible and wise manner.

As compared to home loans, car loans or educational loans which have specific purposes, personal loans are a more flexible type of loan which can be used for almost any purposes you wish. The most straightforward of which are personal instalment loans, where you borrow a lump sum of money from a bank. You can use the borrowed cash for any reason you like. Payment is in fixed monthly payments over a specified time period.

You never know when you might need a loan, but it’s always good to be aware that there is this option out there without breaking the bank. A loan can be useful in the following situations:

  • A buffer for depleting all your savings – taking a personal loan instead of using up your emergency savings in case of, well, emergencies, and you need the savings
  • Seizing opportunities with smaller cash outlays – taking a personal loan for immediate cash to enrol in a workshop or class to improve your skill sets and employability, which will result in an eventual higher return
  • Fulfilling aspirations – perhaps an exchange abroad, a hobby you’ve always wanted to master or even an important bucket list item
  • Repaying a high-interest loan first – taking a personal loan to pay off higher-interest loans, such as credit card bills

Not all banks and money lenders are created equal. Different financial institutions offer different incentives – some offer lower interest rates while others have lower minimum criteria.

Ultimately, it’s always good to compare loans before applying for one, so you end up with the best bang for your buck for your personal goals and budget – one that has the lowest interest rate, the lowest fees, meets your requirements and has the best welcome offers.

SingSaver offers a convenient platform for comparing between different financial institutions. For a limited time only, get the first 3 months of interest FREE when you apply from SingSaver’s website. That’s not all — SingSaver has also partnered OCBC to offer 0% interest free loan applicable for loan with 2 years tenure.

Not only does choosing the right loan mean meeting your goals earlier, it also means that you can pay off your loans faster.

So while you’re all up for borrowing, be aware of the higher interest rates accounts that you’re liable to paying, so that you clear off those loans first.

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