It is no secret that many individuals aim to grow their wealth. Building a “healthy” relationship with your finances is vital in controlling it. Now, how does one begin to achieve this type of financial relationship? For starters, you must review the basics.
Money values, consisting of internal and external factors, influence your attitude towards money. It can help mold your life decisions too! For instance, a person who values foresight may build a robust retirement plan as early as 30.
Your money values are deeply rooted in your personality. Long before you met your partner, you have developed values surrounding money. Studies suggest that we inherit values, beliefs, and attitudes about money from our parents and other family members. It is important to discuss these money values when entering a romantic relationship.
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Unfortunately, couples rarely talk about their financial values and goals. They see this subject as a restricted topic fueled by social custom. However, it is never too late to have this financial conversation! Talking about your money values is the first step to syncing your financial plans. Start by discussing what your parents taught you about money as well as your financial goals. Having this serious discussion prevents conflicts, which came from differing money values.
In your discussion, consider creating a list of your money values. Here are some of the examples: Value of Time, Openness, Resourcefulness, Honesty, Patience, and Generosity.
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Encourage an flowing conversation whereby each of you will share about your list of money values. Understand each other’s point of view by highlighting the similarities and differences. Afterwards, choose the “top three values” that are important to the both of you. Work with these values to reach your goal.
On the opposite end of the spectrum, your financial discussions may become heated. Pause the conversation and revisit the issue later on. When it comes to money, it is difficult to always see eye to eye. Take a time out. With open communication and understanding, you can devise a plan to reach your shared financial goals. Good luck!
In accordance with April 2012 Foreign Exchange Committee, there are total 4 billion dollars of Forex spot transfers on a regular basis. With diverse participants especially those who are trading for some particular purposes are having an edge in the Forex market.
It is imperative to pay attention to the fundamental analysis as they show up the big picture. By looking at this picture, you can easily come to know about the latest actions of the currency pairs and technical analysis. Not just that, you get information regarding the trends.
The forex sentiment indicator is an imperative tool that alerts all the traders about the extreme conditions. This indicator also helps the traders to know the price reversals. It can easily be utilized in conjunction with the fundamental along with technical analysis.
An Incredibly Imperative Tool That Works for All
The sentiment indicators show up the percentage of the traders who have taken a specific position in the currency pair. For instance, you can assume that there are total 50 traders that are trading in the same currency pair. If 10 of these traders are long and 40 are short, then the 10 percent of the traders are considered as the long ones on the currency pair.
When the traders’ percentage in a particular position reaches the highest level, then the sentiment indicators becomes quite useful. For instance, you can assume that when a certain currency pair starts rising and 70 out of 100 traders are long; then some traders will leave to go with the trend.
The sentiment will indicate that it is the perfect time to consider the price reversal. When the price starts moving in lower and shows up a signal which is topped, the sentiment trader just enters the short. It assumes that those traders in the long will have to make sales to avoid losses when the rate falls.
On the other hand, it is said these indicators are not so accurate in providing the buying and selling signals. You have to wait for the rate to confirm the reversal ahead of acting on the signals of the sentiment. The currencies can stand on the higher levels for an extended time period as well as the reversal might not appear instantly.
The higher levels will be different for each currency pair. In the event that the rate of the currency pair has reversed when the buy reaches 75 percent and when the longs reach that higher level again then it is said that the pair is at the extreme.
Therefore, you will have to wait for the signals of the rate reversal. In case, another pair has reversed when the percent of the traders in the short is 80 percent then you will need to wait for the reversal at the extreme.
The sentiment indicators are present in diverse types. They are available from diverse sources. We cannot say that one is better than the other one. However, they can be utilized in juxtaposition with each other. Or else, the particular techniques and strategies should be followed to the data you find simple to interpret.
Several vehicles travel along the nation’s roads every day, one of the most visible being the truck. Despite the vehicle’s ill reputation among some motorists, the entire industry revolving around it has made significant and positive contributions in boosting the nation’s overall economy. After all, without trucks, every product that we use wouldn’t be delivered. Whether you’re an owner-operator with a truck of your own or someone who runs a trucking company with a sizable fleet at your disposal and drivers under your employ, you’ll need to take out truck insurance with the following considerations to take note:
1. There are many truck insurance coverage types to choose from – though you should, of course, get only the ones that you need the most.
You may have started shopping around for providers offering the most comprehensive truck insurance policies in the market right now. However, the myriad number of ways that truck insurance can help protect you financially can give you an instant headache as you try to make sense of its various coverage types. Here are the typical types to choose from:
Primary liability insurance is used in case your truck causes either significant physical injuries to any person or damages to property.
General liability insurance acts as a cushion against any risky event that doesn’t involve a truck but is related either directly or even tangentially to day-to-day operations within the trucking industry.
Physical damage insurance which covers any expenses that you’ll incur should your truck ever get involved in an accident. This accident would have caused significant damage to the truck causing it to undergo some repairs to get it back to working condition
Non-trucking liability insurance is taken out in case your truck hits a person or crashes in front of a property, and you aren’t using the vehicle at all for business purposes.
Cargo insurance is needed in case any shipments that you’re supposed to deliver from point A to point B gets either damaged or lost along the way.
Trailer interchange insurance you’ll need if you’ve agreed to have your truck pull another company’s trailer that’s full of goods that need to reach their destination fast.
It’s entirely up to you as to which among the truck insurance coverage types listed above you plan to include as part of your entire policy – though you’re required by the government to get primary liability insurance at the very least.
2. You’ll want to set aside some extra money for increased financial protection.
You may have heard of most – if not all – of the truck insurance coverage types listed above. But the sum of each of their respective cover amounts might still not be enough to protect your finances and other vital assets.
You might, therefore, be forced to pay out of your pocket, especially if you’ve been slapped with a lawsuit after your truck had caused an accident. You don’t want to pay out of pocket. This is where you can look into an umbrella or excess liability insurance to increase your total maximum policy limit. However, you should prepare to spend an additional amount for it.
Still, purchasing an umbrella or excess liability insurance serves as an affordable way of covering any gaps between the various truck insurance coverage types that you’ve decided to use.
3. You can ask the provider to have your payments divided into monthly installments.
You might initially get shocked at the total amount of truck insurance that you’ve taken out from your chosen provider. Even after limiting your coverage types to only those that you’ll need the most, you may still find it expensive.
This is where you’d ask the provider if you can break the amount up into monthly installments. You can either have your total truck insurance amount divided into 12 equal monthly installments or only 10 with the first two months to be settled in full right after you’ve taken out your truck insurance.
You can even make an initial deposit amount to your truck insurance that covers more than its first two months so that the number of monthly installments would become fewer. This can help you afford it long term.
4. If you’re operating more than a couple of trucks, you should take out truck fleet insurance instead.
The considerations listed above when taking out truck insurance are applicable mainly for owner-operators who have only one truck to their name. As someone who runs a trucking company, it’s both very expensive and highly impractical to take out insurance for each of the trucks under your fleet.
Thus, you should take out truck fleet insurance instead which allows you to have all the trucks under your fleet insured under a single common policy, as well as pay reduced premium amounts compared to insurance for single trucks.
Conclusion
When you had first bought your truck – or trucks if you’ve decided to own a fleet, you may have initially thought that as long as you’ve set aside enough money to pay its amortization amount every month, you’re all good to go. That’s only half the battle though as you’ll want to protect yourself from sudden financial ruin once you or the designated driver of your truck gets caught in an accident. Thus, you’ll also have to take out truck insurance, and the above-listed considerations to bear in mind should help make applying for it easier.
Matthew Xavier
Matthew Xavier contributes for InsuranceTruck, where he strives to write blogs that aren’t just informative, but entertaining and delightful to read as well. It may not show outwardly, but Matthew is a poet at heart, and he tries his best to make sure his pieces have a unique flair that his readers are sure to appreciate. He spends his free time working out by running.
If you are thinking of trading in the financial market, the first thing you might want to do is open a trading account. With a plethora of platform providers in Singapore, choosing a platform as a preferred broker might be more beneficial to you than you realize.
Since most providers offer very similar services, they may appear homogenous from the very start. However, if you take a closer look at the various services they offer, you will begin to notice all the differentiating factors. Here are some of the essential things you need to consider before opening a cfd trading account in Singapore.
Company’s Reputation
All thanks to the internet, personal finance has become truly globalized. A few years ago, retail investors used to rely on making phone calls to their trading representatives for the purpose of buying or selling their investments. However, in today’s world all one needs is a good internet connection to make use of the platforms being offered by providers in Singapore and the rest of the world.
One major disadvantage to this is that there are plenty of small and obscure providers out there offering brokerage services. A number of such firms offer new clients extremely low transaction costs in order to lure them to their platforms.
If you are looking to open a cfd trading account in Singapore, it is advisable that you go with a reputable and well-established trading firm. This is because CFD trading requires a specific type of skillset.
Ease of Opening a Trading Account
Human beings have the tendency of always looking for the most convenient option. Most people, if not all tend to appreciate a low barrier of entry. When you are able to easily open an account online, it saves you the time you would have taken to physically go to the office to sign up.
Similarly, if you are not required to put up a minimum trading amount to open the account, it will give you a chance to first test drive the platform before making any long term commitments.
Mobile Support
In today’s world, it is crucially important to be able to use your tablets or mobile device to conduct business and check on your trades. This is because people spend more times on their phones and they constantly have their mobile devices with them as compared to desktops and laptops.
Before you go opening a cfd trading account, ensure that the provider has an application that permits you to trade via tablet or mobile devices. This would really come in handy in the long run.
Educational Support
This is perhaps one of the most significant factors to consider when getting a CFD trading account. However, educational support is frequently ignored by both traders and platforms alike. If you want to succeed in financial trading, you need to have full knowledge and understanding of what you are doing. Unlike gambling, CFD trading in Singapore requires a lot of experience, skills and knowledge.
A good company should have industry experts who assist you in trading strategy and other skillsets. Some of the topics covered should include technical analysis, forex trading and algorithm trading among others.
The Platform Provided
Some of the key considerations when choosing a platform should be availability of tools and user experience. These should comprise of charting indicators, as well as customizable features. Other things your trading platform should have include automated trading and stop-loss features among others.
When choosing a financial trading account, ensure that you get one that best suits your needs. There is no right answer when it comes to choosing the best cfd trading account, it all depends with what you intend to do. Whether you intend on making a periodical investment or making more frequent trades in multiple asset classes, the best choice for a trading account really depends on your intentions.
Aside from cultivating an expensive taste or keeping up with your neighbors, here are 7 reasons why you are currently broke.
#1: YOU LOVE MONEY TOO MUCH
You are excessively preoccupied with the thought of gaining and spending money. Instead of focusing on the fulfillment of building a career or business, you gain satisfaction by flaunting your wealth.
#2: SAVING IS NOT YOUR PRIORITY
For many people, saving does not come naturally. It is a conscious decision to stick to your assigned budget or financial plan. If you are not making savings your priority then, you are at risk of financial stagnation.
#3: YOU ARE ADDICTED TO SALES
Who does not love scoring an item for a cheaper price? I know I do! For avid bargain hunters, there is a fine line between needs and wants.
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For instance, you just spent S$30 on an As Seen On TV product. How much did you actually save on this unnecessary sale item? Well, you saved nothing! You just spent S$30.
#4: SAYING “NO” IS DIFFICULT FOR YOU
You accept every invitation or each responsibility that comes your way. Sometimes, declining or disagreeing with other people is tantamount in protecting your finances. Consider saying something along the lines of: “No! I will not be able to lend you money right now.” or “No! I am not interested in that business venture.”
#5: YOU SPEND MORE THAN YOUR MEANS
It goes without saying that you are creating a mountain of debt by consistently spending beyond what you make. Others spend money based on what they perceive to earn that month. However, some people never actualize that financial vision.
#6: “LEGENDARY” INVESTORS DICTATE YOUR CHOICES
Self-claimed legendary investors are prevelant due to social media. These type of investors have potent skills in marketing and poor skills in managing their investment portfolio. Be careful with whom you worship!
#7: YOU NEVER LEARN
Taking a wrong financial turn is forgivable but, continuously repeating the same mistake can take a toll on your finances. Many people who suffer from financial difficulties never learn from their experiences. Instead of admitting that they were wrong, they have a tendency to ignore the issue or blame others for it.
