What if you could learn everything you need about finance in less than 10 minutes?
Well, according to University of Chicago professor Harold Pollard, everything that you need to know about money can fit on a simple 3×5 card. Pollard was chatting with journalist Helaine Olen about how necessary most of the financial planning industry is when Olen challenged Pollard to put everything down on paper. He did…and it went viral. Pollard had since published an entire book with Olen that further discusses the card.
Why would this be important to you? Because instead of paying for a financial advisor this 3×5 card has all the information you’ll need.
Just because you don’t have a marriage license together doesn’t mean you do not need financial tips as a couple.
When you make the exciting (yet scary) decision to move in with your partner, it needs to be about more than just sharing a home; it needs to be about sharing your financial goals as well.
Deciding to co-exist with your significant other in one space is a big step in the relationship, which is why money needs to be a topic of discussion before knowing where the couch is going to be located in the living room.
Financial tips for couples can be missed among all the other advice being provided by friends and family on how to keep the love alive in a long-term relationship or what to expect when cohabitating. But, here are some simple things to consider as you begin to move forward together:
Be transparent about your finances.
Don’t wait until after a marriage proposal or, worse, after the wedding to discuss your finances with one another. If you want to build a long-lasting healthy relationship, you should talk about your debts, financial goals, savings, assets and the like so that you can start things off on the same page. You may want to go as far as sharing your credit score. This is often needed prior to renting a home or apartment anyway.
Take care of your own debts.
Unless discussed for special circumstances or confirmed future goals, you should strive to always cover your own debts. Having your partner cover the costs of your financial obligations can cause some serious issues. Have you ever heard that money is one of the biggest causes of break-ups? That statement exists for a reason. Discuss your monetary goals with one another but also create your own together. This can help to determine when it would be necessary to help cover debts in the relationship that aren’t yours.
Know how the household expenses will be split.
Being aware of one another’s income and debts will also be helpful in knowing whether a certain space is right for you as a couple. If there is concern there may be resentment if one is paying more than the other, choose another space that won’t put a strain on anyone’s bank account. If actually purchasing a home together, be sure to put both of your names on everything so that responsibility does not fall all on one or the other in the relationship just in case a break-up were to occur.
Because my boyfriend and I are only leasing an apartment, we found what would be easiest for us would be for him to pay the rent and I would cover the household bills. Over the last three years of living together, we have worked hard at really building a team setting.. If we need groceries and he is out and about, he will pick them up. We do, though, tend to go together so that we can split this cost 50/50. Our house is not just somewhere we sleep at night; it’s our home that we’ve built together, even if it is a lease.
Overall, it is all about maintaining that open communication and applying financial tips that make sense for you and your relationship.
Are you taking that big step with your partner? What challenges have you faced or overcome financially together?
Binary options can be an excellent option for beginners in investment, but are they worth the risk?
Investment typically always comes with a risk. There is no guarantee of turning around a profit, which is why you need to choose wisely and carefully. There are times, though, when it is hard to predict what will happen in the market, as was the case in the 2008 crash.
That’s why binary options seem to be so great; it simplifies the process by making your trades either a “yes” or “no” and reduces the risk of a big loss. Or, does it?
When you begin diving into the world of investing, everything seems a bit overwhelming. So, an option that makes everything simpler sounds right up any beginner’s alley, right? If you’re looking to learn more about binaries and market trends, check out Banc De Binary, where they share articles daily.
However, this 2010 Forbes article argues that binary options websites are glorified gambling sites. Binary options are rather new, and the Forbes Investor Team states in the post that they are also deceptive. Despite the controlled risk, the total invested can quickly add up in one day due to the addictive nature of binaries.
BinaryOptionsGeek.com states that the simplistic nature of binary options also make it easy to trade; however, this can be frustrating for some as it does invite those with zero investment knowledge to place a trade and cash in on your loss. (Although, that is the appeal to beginners, right?) The site also argues that although binaries can easily and unfortunately be used as a gambling tool, it is also an excellent resource for some people to be better performers in trading.
More often than not, the person and their discipline in the industry will determine their investment success. Binary options open the door for multiple trades and a wide range of assets. With one particular focus, though, binary options can be lucrative as well as get your feet wet in the trading game at the little risk that they promise.
Whatever route you take, one trick you could use with stock is to pretend that you don’t actually have it. Seeking stock with decent dividends is key, which actually brings us to our next point.
Do your research. Truly. If you’ve been considering investing in stock more and are unsure where to start, researching is the best place. Take some time to understand the market, the trends and the basics so that you are not going in with a blind eye. Even as easy as binary options are supposedly designed to be, start small. All of this analysis also includes the programs in which you plan to use, particularly for binary options, as you will want to choose the ones who are most transparent so that you have a strong understanding of how the platform works.
Risk is fairly relative and is dependent upon the finances of the individual interested in pursuing options trading. Therefore, for you newbies, binary options at fixed gains could be worth the risk if you are able to afford a market downswing at your level of investment as well as obtaining some type of knowledge in the industry prior to starting.
As your financial portfolio begins to grow in addition to your investment experience, you can start to expand your profit ventures. Just remember to stay away from those “get rich quick” schemes. These are typically red flags.