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Feast & Famine: What to Do with Your Money in the Financial Extremes

by on May.12, 2012, under Make Money Online

Especially for those new to investing, but even for those with more experience, there is one basic, fundamental question that is formidably difficult to answer: What do I do with my money?

It might seem like a simple question, but the simplicity of its wording actually hides the complexity of thought that its answer requires. Knowing what to do with your money is the central challenge of investing, and is in fact what keeps most away from investing in the first place. The financial world for many is a foreign one that looks like a minefield from afar.

While there is no easy answer to the question of where your money should be going, there is one factor that will have more influence over the answer than anything else — and that is how much money you have available.

In broad strokes, you either have a surplus or scarcity, or you don’t. Meaning that you are struggling with money, you are in an average situation, or you recently had a windfall — most people fit more or less into one of these three categories. And it is these categories that will help you determine how to invest what you have. I am going to focus more on surplus and scarcity, as there are already a wealth of articles on personal finance for those in average situations.

Surplus

There are fewer people in this category than either of the other two, for apparent reasons. Not everyone has the luxury of a surplus of cash. Whether you won the lottery, inherited money, save a large sum while serving in the military or anything else, having a large sum of money to work with puts you at an advantage, but also brings new challenges.

Cash is best used for emergency situations or short-term spending needs, such as groceries, entertainment, and so forth. Financial planners generally agree that an ideal cash savings equals 12 months of your regular monthly expenses combined.

If you are sitting on more cash than that, you’re in a great position, but are sacrificing an enormous opportunity to grow your money. In the current market, you don’t want to throw all your money into stocks or other long-term investments at once because you will be more likely to lose more of it, but you should have a long-term investment strategy planned.

Michael Kitces, a commentator on the financial-planning industry, recommends that you move portions of your cash into the market a little at a time, over a period of three, six, or even 12 months.

Scarcity

Another word for scarcity is “debt.” They are both scary words, as anyone with a substantial amount of debt knows, and certainly words that introduce doubt about the future into your life.

No one will contest that investing for the future is an important part of managing your finances, but if you are drowning it debt, it doesn’t make sense to be regularly contributing the highest amount possible to your 401(k) every month. Instead, you should be trying to wipe out your debt as quickly as possible.

J.J. Montanaro, a certified financial planner, points out that “if you make an extra payment on a credit card balance that has a 15 percent interest rate, that’s equivalent to earning a guaranteed 15 percent return on your money — a promise the stock market can’t match.” In other words, the more quickly you pay off your debt, the more you’ll save in interest, and the more you’ll have to invest later.

Of course, if it’s possible, you should make contributions to your investments where you can, making sure that you have your priorities in line. Most families are saving for retirement and for a college fund for their children at the same time; if you are struggling with money, it is always a better idea to put the college fund savings on hold, as there are numerous ways to pay for college, and very few ways to pay for retirement.

In addition to rearranging your finances, you might want to start thinking creatively about how to generate more income, and not just cutting back on expenses. Renting out a room in your house or getting a second job are great ways to help pay your debt of more quickly, so that you can get back to investing in the future.

Guest post by: Mariana Ashley is a freelance writer who particularly enjoys writing about online colleges. She loves receiving reader feedback, which can be directed to mariana.ashley031@gmail.com


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Managing a Successful Retirement Account [Infographics]

by on May.08, 2012, under Make Money Online

Credit: Criag Murray from http://www.wineinvestment.org/ Managing a Successful Retirement Account [Infographics] is a post from: Moola Days

Managing a Successful Retirement Account [Infographics] is a post from: Moola Days



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What is the Difference Between Personal and Business Class Email?

by on May.08, 2012, under Make Money Online

Millions of people all over the world have email addresses. Email is a great source of communication for professional and personal reasons. Because people use email for different reasons, there are personal and business class email options available for people to consider. Some people assume that a personal class email service can be used for […]

What is the Difference Between Personal and Business Class Email? is a post from: Moola Days



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Is it Actually Possible to Make Money with Twitter?

by on Apr.24, 2012, under Make Money Online

It’s no secret that people love to jump on the latest trends and fads. And right now social media sites are the cool thing to be on, with Twitter being among the most popular of them all. So naturally, there are thousands of people asking the same question every day…”Is it truly possible to make money with twitter?” The answer to that question is, YES!

However, with that being said, if you are going to be successful using Twitter to earn money online, you need to be absolutely sure you are not one of the many wannabe internet marketers out there doing it all wrong without a clue. This post will help you to avoid the dark side of tweeting for cash.

The first thing you need to know is that if you are going to sign up for Twitter with the intentions of spamming like crazy, you might as well forget about it. You will get reported and your account will be deleted before you have a chance to get anywhere with it. And even if you do happen to slide under the radar without getting deleted, you still won’t make any money because nobody will read your spam posts.

The best strategy for becoming successful at Twitter is by actually building up a following and legitimately participating in the community. It is a social networking type of site so you need to be social. You should talk about yourself and what you are doing with your life and business, give useful tips, be creative, helpful, and entertaining. Share information about your niche that your followers actually want to read.

If you have your own blog then one great way to semi-automate your participation is to integrate your blogging efforts with your social media efforts. Make it so every time you post it gets tweeted on your profile. Or maybe you have written a free report covering something about your niche that you are an expert on? Why not give it away for free to your Twitter followers? When you share useful information you will find that your followers will grow just by word of mouth sharing of your tips.

Obviously a great way to help all of this along is to publish the link to your Twitter profile anywhere it is allowed. This would be in your blogs sidebar, the signature file of forums you participate in, other social media site profiles, and so on. And if you submit articles to directories, they often have an option where each time you get an article published it will be tweeted out to all of your followers.

In the end, what you want all of this to do is build up a strong reputation for yourself. Once that has happened, you will find that the trust and following you have gotten will turn into a lot of sales if you roll out your marketing promotions strategically. Always contribute much more than you pitch sales. That is vital!

If used correctly there’s little doubt that Twitter can be quite profitable. It can certainly be used as one tactic for earning money online.


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Mad Men In The Modern Tech World

by on Apr.15, 2012, under Make Money Online

Man Med is an AMC drama set in 1960s New York that follows the lives of the ruthlessly competitive men and women of Madison Avenue advertising, an ego-driven world where key players make an art of the sell.

Mad Men has received critical acclaim, particularly for its historical authenticity and visual style, and has won multiple awards, including fifteen Emmys and four Golden Globes. It is the first basic cable series to win the Emmy Award for Outstanding Drama Series, winning it in each of its first four seasons.

Because Mad Men is set in a time when people wrote stories with something call a typewriter, I often wondered what the show would be like if it was set in modern times. Well, wonder no more! My friends at Infolinks has created an Infographic of Mad Men in the modern tech world. The Infographic features your favorite characters and how they would interact with the tech toys of today.

Win A New iPad For Posting The Above Infographic

Now it’s time for you to vie for a brand new iPad! Go a bit Mad posting this sleek Infographic to your website, Tweet it to your followers, Pin it to your boards and Share it on your Facebook Timeline. After you post it, share a link in the comments section on Infolinks Facebook Page to be eligible. On April 16, they will choose one lucky winner who just like Peter Campbell, will have the new iPad before everyone else. Good luck!



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