Every day in our lives, whether we like it or not, money is involved in everything we do and everywhere we go. And believe it or not, with a blink of an eye, all your hard-earned money can be gone. Having debts nowadays is not unusual, and not being careful on dealing with your debts could lead to more financial problems. So here we are going to be talking about how to calculate your finance charges in order to have a more organized planning regarding paying your debts and knowing to consider credit opening new credit.
This would seem difficult at the beginning but as most things are, in the long run you would be able to get the hang of it and would not have any problems later with calculating. In order to do this, you would need the following: Your current statement of billing, your copy of your credit agreement, access to prime rates preferably current, and a spreadsheet or calculator. Take note that there is a finance charge calculator that is available online to help you when doing the needed calculations. The first thing you do is you must find your yearly percentage rate by checking on your most previous billing statement.
Second, divide your yearly or annual percentage rate according to how many periods of billing within the year which is most likely 12 if you are paying monthly. If your account has a fixed interest rate then the result of the quotient here is now going to be the period interest rate. If there is a variable interest rate, then look up the current prime rate and add the suitable percentage previous to finishing the calculations done in the second step. Do a check on your credit agreement to know the exactly amount that is added to the prime rate in order to know your annual percentage rate. And now, how to do the calculation on your finance charges, check with your credit agreement to know how to calculate your finance charge used on your account.
Your credit provider more commonly is using any of these types of calculation: adjusted balance (subtract the amount paid within the month starting with the balance of the beginning of the month and multiply the result to the period interest rate to know the finance charge of the period), average daily balance (add the balance for every day within the period and divide the result to how many days during the period), ending balance (do the same calculation as the previous balance method but instead of the beginning balance, use the ending balance), previous balance (multiply the beginning balance of the current period to the periodic interest rate), and two-cycle average daily balance (calculation two billing periods, multiply the result on how many days within the period, then multiply the periodic interest rate to have the finance charges of the current month) methods. Now, it might take a little patience at first, but when you do it again and again, it would not be as complicated as when you did it the first time. After all, you need to know how to do this to budget your hard-earned money.Read More
A monthly minimum wage will almost make it impossible to live. The question is, how you would be able to make it possible? How would you be able to save? You know, when you really want to have things as your goal, it would really be best for you to start and do it right. You must also have a strong decision, and be determined enough to make the impossible possible. Aside from the determination, you must also be able to have the discipline within yourself and to maintain that value all throughout your life. So now, here are the brilliant ways for you to stretch your minimum wage in a way that you can still save a good amount of money.
Tip#1. The first thing that you must do is to track your money the proper way. This will let you determine whether your money is spent with important things and needs more than your wants and luxury. This will also be a great foundation of having good budget management. Also, it would be important for you to know the amount of money you bring in every month.
Tip#2. Plan your spending. It is best for you to identify first the money that you are free to spend after determining how much you will save. Always remember to spend after saving. List the things that you need to pay and the things that you need to buy for the month. Write the things that have a fixed monthly price so that you could determine easily. Then find out the amount of money you will be able to set aside for those fixed fees. With proper planning and spending discipline, it would be easy for you to do this.
Tip#3. Adjust everything. Determine the things that make you spend with less value. These are the things that you buy with big brands but are just having short value such as your groceries. You may opt to quality brands with lesser cost; you buy in volume such as dishwashing liquid, shower gel, or detergent soap. These things will last for months so there will be no longer a need for you to buy them again the next month.
Tip#4. Buy things that are discounted and never just shop till you drop. Never be deceived with sale advertisements in malls. This will make you spend more knowing that they are with big discounts, you still are tempted to buy more of the items even when they are already just your wants and not your needs.
Tip#5. Give up your frugal lifestyle. Live simple when you really want to live with convenience in the future. This will give you the inspiration and be an eye opener on how it is important to spend your money the correct way that you can. In a way that you will never have to be luxurious just to show off, so save now and start a brighter future for yourself with your minimum wage.Read More
If you’re interested in a high-risk, high-return type of investment, then you should certainly consider binary options. The process is quite simple. There are basically only two outcomes from the investment. Either the investment will be paid X amount if the option reaches a set level, or he or she will receive a goose egg if that doesn’t happen.
This type of investment provides several benefits. For example, the investor can receive fast returns and high profits. The trading is also quite simple, which makes it an especially good option for those who are new to the world of trading. Another benefit is that you can often invest as little as $1, which is ideal if you’re just getting started. Finally, through anyoption and other schemes you can trade from anywhere and anyplace. Here are some other key benefits of this type of trading:
- Low risk
While investing through means such as a banc de binary review is generally high-risk in terms of the returns being “all or nothing,” you can actually minimize the risk by reducing the amount that you put on the line. In fact, this type of scheme often allows investors to risk as low as $1. That’s definitely a big plus over other types of investments that require you to risk hundreds or thousands of dollars. The low investment amounts investment means that you can risk small amounts until you get used to this method of investing. This gives you the option to calculate the risk of your investment before you make it. It’s a feature that you can’t find with many other types of investments.
- Trading in any type of market condition
One key benefit of 24option and similar types of investments is that you can make profits not only when the prices are rising, such as traditional methods, but also when prices are dropping. This gives you the option to use different trading strategies, and increases the chance of earning profits.
- 24/7 trading
Due to the world’s 24 time zones, this type of trading allows you to trade virtually every day of the week, and at any time. This is definitely a key benefit over local trading in particular, which is limited by the 9-5, Mon.-Fri. schedule. The problem with such limited trading is that you are unable to trade in the evening, on weekends, etc., thus limiting the profits that you can earn.
- Many internationally-traded assets
A Binary Option provides many of the types of financial assets that can be traded today. This means that regardless of what your preferred asset is or how familiar you are with the current financial markets, it can be an excellent option for you.
When choosing among a set of assets offered by brokers, make sure to check each one of them with a fine-tooth comb. In fact, sometimes such brokers offer up to 90 types of commodities, which can include stocks, currency pairs, commodities, and indexes. This means that your options will almost be unlimited.Read More
Investors are always intrigued about how one’s own money can be doubled through investment. It is anyone’s guess as to what it really means about doubling investment, but for the investors, it is music to their ears. There is something they really love about risks because they know the value will double if they take it. Some of them find it fun to see numbers going up and down – like it is a game to them. But for the average person, seeing that it is their money on the line either excites or scares them. Excited because they know it will reap quick money. Scared because if the market does poorly, their money goes away in a snap. But here’s the thing – an average person can play it safe by looking at the right ways of investment in order to get big returns.
If you are looking for instant winnings, close this article and search somewhere else as this is not designed for you. This is a classic way to invest your money. Investors that have been living since the 80s know so well about the commercial of Smith Barney, in which John Houseman, a British actor informs the viewers about making money in an old fashioned way and earning it. By using the traditional way of doubling money, the commercial is not so far from how reality works. One of the bested ways to double money for a reasonable time is investing it on a non-speculative, solid portfolio that is diversified between investment grade bonds and blue-chip stocks. While the portfolio may not double within the year, it will eventually get to that area, and this is thanks to the rule made back in the year 72. That famous rule was a shortcut on calculating the time it takes for the investment to go double if the growth of it compounds on itself. According to this rule, divide the expected annual rate of return by ’72, and then it will tell you the number of years it will take for your money to double.
The Safe Way
If there is a very risky way, there is also the safest way. Just imagine how the slow and fast lanes all lead to the same place. For investors that are scared of risking their portfolio, bonds may be the best way for this as it is less precarious to go with and it ends up in the same destination. Investors that are taking less risk when using bonds do not have the need to give up their dreams of bragging about their money being doubled, the fact that zero-coupon bonds can keep them on the discussion about doubling the money.
The sound of zero-coupon bonds may be terrifying or intimidating for those who have no idea what it is. But they are really very simple. Rather than buying a bond in which it rewards you regular interest payments, you purchase the bond in its discounted form to the eventual amount of maturity.
Reading a Banc De Binary Review will help you pick the safest, most reliable broker when investing!Read More