4 Simple Steps to Budgeting

September 21, 2020

STEP 1: Create a List of Expenses

a. The bare necessities. When creating a personal budget, it is best to begin by making a list of necessities that you have to pay each month. This includes: mortgage or rent, utilities, public transportation, medical expenses and groceries. Calculate how much you’re paying over 12 months for each, and get a cost average per month.

b. Next on the personal expense ladder. This list includes things that give you security and peace of mind: health insurance, life insurance, auto insurance, and home or rent insurance.

c. If you must. This list will include things that most people want, but don’t need. If you’re expenses exceed your income, this is where you have to cut back: internet access, cable television, phone, and auto lease or loan.

Step 2: Create a List of Sources of Income

The key thing here is to make sure that you list only the income you’re taking home. Don’t include things like tax returns or bonuses, if you don’t have to. If you’re are self employed, consider averaging what you make over the year and starting out with extra savings for those lean months.

Step 3: Prioritize and Re-balance

The amazing thing about having a personal budget is that it opens your eyes to where you can cut back in some areas to free up more cash. Figure out what you need and what you don’t and prioritize. For instance, Do you really need up to 100 cable TV channels?

Step 4: Evaluate your Net Income or Loss

Take your income and subtract your expenses. If you have a positive number, you are doing better than many. Take your extra money and put it into a IRA or invest the rest in mutual funds or personal investment account.

Simple Practical Ways to Increase the Value of Your Assets

obbuuz

September 19, 2020

Improving your long-term financial prospects definitely takes working on your assets and doing all you can to increase their value going forward. The simple tips below will help you achieve just that.

Invest in Your Assets

To invest in your assets in a way that enables them to increase in value should be a key concern for you. For many kinds of assets, this is the best way of growing their worth. If you let your assets sit there without doing anything with them, that rate of their value might be slower and won’t result in the returns that you actually hope for.

Get Financial Advice

If you’re not really sure what you’re doing in the area of managing your money, it is safer to look to get financial advice from a professional who can assist you. They’ll be able to give you their professional advice, opinions and guidance. Besides, you can even hire a such to manage your assets for you if you prefer to do that.

Understand Current Market Conditions

Take time to understand the market conditions that will have an impact on the value of your assets. There are some things you don’t have control over, but you do have control over when you buy or sell during the cycle of the market. If you understand the conditions of the market, you can make sure that you always make the right decisions at the right times.

Pay off Your Debts as Quick as Possible

As you look to increase the value of your assets, you should also look to clear every outstanding debt as fast as possible as well. Doing so can be important because if you don’t fully own an asset and instead you own it thanks to a debt, such as a mortgage, you won’t be getting the full benefit of any rise in value.

5 Things You Must Give Up for More Financial Success

obbuuz

September 17, 2020

You owe it to yourself to make the most of the precious 24 hours in every day. Forging your path to personal and financial success has a lot to do with what you do with every new 24 hours you have daily. Take a look at these five things you must give up to achieve more financial success.

1. Give up your excuses

No matter your background, you’re responsible for what happens in your professional and personal life. So, instead of making excuses for bad financial choices you made in the past, own it. Then take control by creating a simple workable plan that outlines your next steps to achieving your financial goals. Successful people know that they can’t let excuses get in the way of achieving their dreams.

2. Give up short-term thinking

If you will learn to make small, continuous improvements that compounds over time, you can achieve any desired outcome. Reaching big dreams and financial goals rarely happens quickly. Most significant achievements, are the product of long-term planning that may have taken years or decades. In order words, it’s the collection of daily good habits that precede the results.

3. Give up wasted time

Be clear about the fact that there are some unnecessary activities you are involved in that probably aren’t moving you any closer to your goals. You only have one life to achieve the success you want. Sometimes you need to say “no” to certain opportunities that stand in the way of what you truly want to achieve. Why? Because doing the same things you’ve always done will give you the same results that you’ve always gotten.

4. Give up unhealthy habits

Taking care of yourself by dropping unhealthy habits is where it all starts. There’s no end to the benefits that come from eating high-quality, unprocessed foods, and giving up too much fast food, alcohol, and sugar in your diet. Living longer, maintaining a healthy weight, and feeling good are just a few of the upsides.

5. Give up overspending

The only way to forge ahead financially is to make sure you live within your means and have money left over to invest each month. By living paycheck to paycheck, it may take care of your immediate wants and needs, but it’s dangerous because you’re kicking a financial can down the road. Evaluate your priorities carefully and give up unnecessary spending that’s holding you back from forging ahead and achieving more.

Good luck!!

5 Good Traits to Help You Succeed and Do Better in the Business World Today

obbuuz

September 16, 2020

If you are about to embark on the journey to be an entrepreneur, or have been in the journey but have not seen success, you need to adopt these traits and make them a part of you for achieving your desired success in business:

Vision

Entrepreneurs are innovators who are always on the lookout to either develop new ideas or improve existing products or services. They are people who see opportunities everywhere. They have the ability to see the future before it happens. By developing your ability to always recognize opportunities around you, you are on your way to becoming more successful in your business.

Passion

No one can achieve anything if they do not have the passion for reaching that goal. Passion is a critical quality of a successful entrepreneur. While something that may be drastic would be too much for some people to handle, an entrepreneur has the uncanny ability to get up and dust themselves off. An Entrepreneur has the motivation that helps keep up hope and overcome any obstacles as he or she advances towards the goal. This is why successful entrepreneurs are passionate and motivated in a whole new demeanor.

Discipline

Successful entrepreneurs are disciplined to always make new steps every day towards the accomplishment of their goals. They tend to always focus their energy on making the business work, and for eliminating the distractions or obstacles to their set goals. Their overarching strategies help them to reach the goals they have while they outline the plan to achieve the final outcome.

Flexibility

Successful 21st century entrepreneurs are always prepared and willing to modify their plans when new information or technology arrives and when there are changes in circumstances. Being able to adapt to changes and challenges is crucial for any business that aims to be successful. Great Entrepreneurs are flexible enough to make necessary adjustments for their ideas or goals to be feasible.

Strong people skills

A successful entrepreneur is someone who has excellent communication skills for selling the products or services to customers and motivating her staff or employees.

Good luck!!

4 Simple Ways to Prepare for a Financial Emergency

obbuuz

September 15, 2020

There are different ways you can plan for unexpected events so they don’t topple your finances. Here are 4 simple good ways that could as well help you plan better.

1. Live Below Your Means

When you get in the habit of spending less than you make, your income loss won’t be as devastating as if you needed every last cent of that paycheck to survive. Also, by living frugally you are able to build up emergency funds that can help when needed most.

2. Create an Emergency Fund

A wise move everyone should make to protect themselves from income loss, is to start an emergency fund with a goal of having six months of living expenses set aside. The more you have saved, the greater financial security you can enjoy.

3. Share Important Financial Info With Those Who Need to Know

If you’re married or in a committed relationship get in the practice of budgeting together as a couple. Discuss money talks with your spouse about short- and long-term goals. Determine how you’ll split shared expenses and ensure both of you are involved in the money-making decisions and details. And if you’re single, you may want to let someone you trust know how to access your important financial in case emergencies.

4. Get Covered By Insurance

It’s important to make sure you have adequate insurance coverage in every necessary areas. Having good insurance especially in health is also vital to maintaining financial security.

Get in Here!! The Number of Women in Crypto and Blockchain Is Skyrocketing in 2020

obbuuz

September 11, 2020

Recent reports show an unprecedented increase in the number of women involved in the crypto market, some exchanges see a 160% surge.

It is widely believed that the cryptocurrency and blockchain sectors are almost exclusively male-dominated. However, a report released by CoinMarketCap on April 30 suggests otherwise. According to analysts, the number of women in the cryptocurrency industry increased by 43.24% in the first quarter of 2020.

Below is a breakdown of key factors that contributed to this record growth and why the numbers vary from region to region.

Women investing more in Bitcoin

A study published in December by Bitcoin (BTC) fund operator Grayscale showed that 43% of investors interested in Bitcoin are women — up from 13% last year — and this number is actively growing.

As global financial conditions tightened, many people began to invest in real estate, gold and cryptocurrencies. Assuming that females tend to be more pessimistic than males about the global economy, their confidence in cryptocurrency could significantly increase in 2020. As such, many women found a safe haven in digital assets.

Meanwhile, for others, cryptocurrencies became a promising investment. Blockchain entrepreneur Nisa Amoils pointed to the attractive investment opportunities of the market as one of the main reasons behind the growing interest of women toward digital money, telling Cointelegraph:

“Women can get more income through trading, investing and virtual spending of Bitcoin. And the token economy can democratize access to capital through, for instance, security token offerings.”

Many trading platforms have already seen an increase in cryptocurrency demand. For example, in March, digital currency exchange Coinbase noted the surge of deposits made by U.S. residents in the amount of $1,200 — exactly the same size as the coronavirus stimulus checks issued by the United States government.

At the same time, Bitcoin has doubled in value over the past two months, which, coupled with the recent halving event, has caused a stir around cryptocurrencies. Here, women have been just as competent as men. In particular, according to Grayscale, 49.8% of women predicted that Bitcoin’s limited emission would lead to its price growth in the future.

Crypto trading isn’t a “boy’s club”

The growth of the Bitcoin price as well as the investment attractiveness of digital money in general have contributed to an increase in the number of women in cryptocurrency exchanges. Thus, for example, cryptocurrency exchange Bithumb Global reported to Cointelegraph that the company witnessed a 30% growth in the number of its female users in 2020. Its vice president Vincent Poon explained that today’s women use digital money to hedge their funds, although not all trade proactively:

“I think women usually are less reserved when it comes to investing Bitcoin due to the technical piece of it and the volatility of the Bitcoin. I think they just are trying to diversify or hedge the portfolio and start looking at Bitcoin as alternate investment due to losing confidence in the traditional securities or economy as a whole during the pandemic. More women open accounts but not necessary trading though. They are exploring.”

Cointelegraph found out that the number of female users has grown between 22% and 160% on the majority of top crypto exchanges since the beginning of the year. Notably, digital assets exchanges CEX.io and EXMO saw the same increase in the number of female users as Bithumb Global.

Alexander Kravets, CEO of CEX.io U.S., shared the latest statistics with Cointelegraph: “As part of our overall user base, CEX.IO has seen a 26.86% growth of the female user segment from Q1 to Q2 of 2020.” Maria Stankevich, head of business development at EXMO, told Cointelegraph that the biggest growth occurred in the number of women aged 18–24 and 35–44. She added:

“We noticed that sometimes the other family members of VIP traders started to trade. Probably it is connected with the fact that they want to gain some new skills.”

United Kingdom-based crypto exchange CoinCorner revealed that the share of women among its users is now 14.7%, with a 47% increase in the number of female sign ups occurring in Q1 2020. Joanne Goldy, marketing specialist at CoinCorner, commented to Cointelegraph: “In the first five years at CoinCorner, we saw limited interest from female audiences, with sign ups slowly rising from 10% to 14% over that period.”

Meanwhile, OKCoin reported an even higher influx of women to its services. Hong Fang, CEO of the exchange, told Cointelegraph that there was an 80% increase in female traffic in Q1 2020, with 50% of these female users being net new users. She added that 40% of them were aged 25 to 34.

Taking the cake was Bitfinex, with a record 162% growth rate of new female users this year so far. Joe Morgan, the exchange’s senior public relations manager, told Cointelegraph:

“This growth clearly demonstrates an increasing interest in digital assets among women. As to why women are choosing to set up accounts with Bitfinex, perhaps this can in part be attributed to the diverse and inclusive nature of the business.”

Click here to read more from cointelegraph

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