The Finance Factor

Economies move through a series of expansions and contractions known as the business cycle. This should not be news to anyone with even a modicum of financial acumen, yet it amazes me that those who are tasked with understanding this basic concept get it so wrong time after time.

What I am referring to is the need to “call a bottom”. When I started out in my trading career, the trading aphorism I heard most was to not try to “catch a falling knife”. Yet day after day, I see some politician, financial pundit, or media type who will tell you with all certainty that the “bottom may be in” and the recession may be over. What they’re NOT telling you is that just like everyone else, they really have no idea where the bottom may be and that all of their guessing is nothing more than a way to pat themselves on the back at cocktail parties 6 months from now in the random chance event that they were right!

Let’s debunk some of the myths about economic “bottoms” and tell you what you need to know.

Less contraction does not equal expansion! When economists say a recession is over, all they are saying is that economic output has stopped contracting. And while that may be true, the “logical” conclusion that they draw is that if the economy stops contracting, then it must be expanding, which means growth. This couldn’t be further from the truth. Economies can experience long periods of non-growth or stagnation, after having been stabilized. Don’t believe me? Ask the Japanese.

Continue reading ‘Where’s the Bottom?’ »

With the cost of living soaring upwards by the day, one needs to take drastic steps to save for the future. I find that most of us don’t make a conscious decision to take simple actions that would go a long way in cutting down on our daily expenses.

With the constant increase of the cost of fuel, it is essential to find ways of cutting down on this. Instead of always using the car even when going round the block, you can start walking those short distances. You will not only save on fuel but also improve your health status. Consider to sometime use public transport instead of using your car. If you have friends or neighbors that you trust opt to contribute on fuel and share one cab to work.

Secondly, most of us have a tendency to wait until a problems occurs then we start moving up and down looking for money to arrest the situation. We may make long term plans but often times we fail to include little things like dental checkups.

Continue reading ‘Saving Money Strategies That Work’ »

During global economy crisis, looking for affordable but quality health insurance plans can be a challenging and time consuming task for entrepreneurs and the self employed. With the rich resources in the internet, this task has become simpler. You can obtain all types of useful and updated information online within a short period of time. Here are three practical steps for self employed to obtain the right healthcare plan.

Step 1:
Determine what type of coverage that suits your requirements. Ask yourself the following key questions in order to evaluate your personal needs:
• Do you visit the doctor frequently?
• Do you only go for medical check up once a year?
• Do you visit the doctor during emergencies only?
• Do you prefer to pay a low monthly premium with a high deductible or the other way round?
• For women entrepreneurs, do you require maternity coverage or prescription benefits?

Continue reading ‘Practical Ways For Obtaining Self Employed Health Insurance’ »

You heard it folks, five years, only five years is that enough to make the money you want and change your financial lives forever?

I was discussing this topic the other day and you would be amazed at how many people out there are in financial dire straits. Okay, maybe not amazed but this particular problem is no longer someone else’s. In fact, it is probably a dilemma that is hitting home and hitting hard. It might be you or your neighbor; maybe someone in your family but odds are we are all facing a little financial crisis of our own.

Not to worry, there is plenty of time to correct the problem. I want you to take a few moments right now and think what has happened in your life over the last 5 years; write it down if you have to. Be specific because, after all, you are trying to change your financial outlook.

Continue reading ‘Is 5 Years Long Enough To Get Rich Quick?’ »

Don’t you hate how the economy has prevented you from buying the home you’ve been dying to buy? Don’t you wish there was some way you could get your new home without all those documents and qualifications? Well, then I’ve got good news for you. The lease purchase method will allow you to get your new home easily.

While you may find the concept intimidating at first glance, lease purchase or ‘lease with option to purchase’ is actually a pretty straightforward concept that is easy to understand. What happens is that lease a house from its current landowner. Of course, there will be an end to this leasing period, whether it is a year or two after you move in. Continue reading ‘An Introduction to Lease Purchase’ »

Whenever I do a compelling conversation with a guest there are numerous questions that are submitted around the topic of money; how to increase income, attract more clients, and ways to shift from lack and struggle to more abundance and flow. Money is at the forefront of many people’s minds.

Despite the negative news about the economy that feeds into fear and constriction, throughout history we have experienced numerous times that have created concerns about our financial future and survival that have culminated in enormous growth, innovations, and fortunes. Today we have the opportunities to create a grand future filled with limitless money, abundance and joy. There is plenty of wealth in the world for those who are willing to reach for it and allow the flow into their lives. Looking at your relationship with money will determine what you manifest in the coming days, weeks, and years.

What do I mean when I say relationship?

I mean when you think about money or having wealth, what beliefs, thoughts, and body sensations come up?

Common beliefs and thoughts:

~ People who do spiritual work are meant to be poor
~ Money changes people negatively
~ If I make a lot of money, I’ll lose myself and the people I love
~ Money comes easily to other people but not for me
~ Rich people are selfish and power hungry. I don’t want to be one of THEM.
~ There is never enough money no matter how hard I try Continue reading ‘What is Your Relationship With Money?’ »

Debt is becoming a serious problem for many people as the economy remains in recession, but is bankruptcy a good way of escaping your debt problems?

This article discusses the impact of bankruptcy to help you decide if this is a good way of freeing yourself from your debts.

Bankruptcy is one of the forms of insolvency available for people who are unable to settle their debts. It is a legally binding agreement between you and your creditors that protects them from pursuing you for the money that you owe.

As debt problems mount, you can actually voluntarily declare yourself bankrupt if you owe more than £750. Your creditors also have the power to force you into bankruptcy should they feel that there is no other alternative. Continue reading ‘Is Bankruptcy a Good Way of Escaping Worsening Debt?’ »

In today’s worsening economy people are finding it more and more important to create a good budget that works and stick to it. In reality, a budget should be used whether you have lots of money or hardly any. It’s the best way to control your money and make it work for you rather than falling into the trap of wondering where it all goes. Many people also find if they stick to a budget, they have more cash leftover at the end of the month to go toward good things because it’s not being spent away, a little here, and a little there, on things that don’t matter.

It might sound backwards, but truly the way to reach financial freedom is by budgeting. A budget acts as the compass that directs and maps your course towards wealth creation, and also helps to enhance your living standards. You may not think of it as such, but a budget truly is a road map for your financial success. Just as you would rely on a compass to get you safely home when traveling through the woods, a budget do the same good by leading your finances to safety. Finance assured folks work with a budget. Continue reading ‘Budget For Success’ »