Who Do You Want to Be When You Grow Up?

No matter your age, it’s never too late to chase your dreams and achieve financial freedom

I don’t know about you, but the ongoing scarcity of women in leadership positions continues to blow my mind. Sometimes it’s hard to believe that it’s 2018, because not nearly enough has changed when it comes to gender equality in the last century. It’s well documented that women are just as capable, if not more so, than our male counterparts, yet we still face a tremendous amount of obstacles clawing our way into senior leadership positions.

According to an article in Inc., six of the top issues that contribute to this phenomenon include:

1. Outdated gender biases that are deeply ingrained in workplace culture.
2. A gap in perception—in a recent survey, 86 percent of men said women have as many or more opportunities than men do, but only 56 percent of women agreed.
3. Women in leadership tend to be relegated to traditionally female roles, such as human resources or public relations, versus IT and finance.
4. Continuous lip service, in which companies say they’re addressing issues of equality but they don’t hold their leadership team accountable for taking action.
5. Disparity in pay for men and women in the same roles.
6. Work-life balance concerns, which result in women being put on the “mommy track,” which prevents them from advancing.

Clearly it’s not easy to change workplace culture, but we’ll keep hammering away at it. In the meantime, if any of these six things sound familiar, it’s time to focus your attention on what you can change: your own mindset.

What do you want to do with your life?

Robert asked me this hard-hitting question on our first date. I told him I wanted to start my own business, and that’s what I did.

Yes, it was difficult. I had to learn through experience and a lot of trial and error. Back then, we had nothing—we even lived in our car for a short period of homelessness. It was extremely scary and stressful. But I did not give up…and things worked out just fine in the long run.

My dream became a reality because I had the courage to focus on my financial education, keep moving forward and not let the naysayers change my mindset for success. I remained steadfast in my purpose and zeroed in on my why.

With this in mind, what do YOU want to do with your life? Who do you want to be? What goals do you want to achieve? What legacy do you want to leave behind?

Do you want financial freedom?

Whether you are a mom trying to balance an impossibly tight budget, a stressed-out executive daydreaming about a better life, or just someone who has “settled” for what you have, have you put your dreams on hold? Do you yearn for something more? Something different?

Well, stop making excuses. It’s time to push yourself to the next level!

Life is a never-ending workshop, and when you stop learning, you stop living. Yes, you will make mistakes, but that’s how you learn. The important thing is to take action.

Put yourself in a position where you have to do something beyond what you think you can do. Make yourself just a little uncomfortable.

Sure, it’s scary. And you will have to fight the negativity out there—not only from your own self-doubt, but from all the people who will tell you your dreams are impossible (especially friends and family, who are either jealous or trying to protect you from making mistakes and getting hurt).

But this is how you break out of a rut, build confidence and get the skills and financial education you need to make positive changes happen. This ties in perfectly to my Be-Do-Have philosophy of chasing and achieving your dreams.

Who knows? You just may surprise yourself at what you can accomplish if you put your mind to it!

Source: http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/May-2018/Who-Do-You-Want-to-Be-When-You-Grow-Up.aspx

How to Significantly Increase Your Prices,Without Losing (All of Your) Customers

I have the answer to all your business problems and prayers. There is one really easy think you can do to go from struggling to making consistent and significant profits. It’s so simple anyone can do it, even you. But you probably won’t do it. You’ll know you should, but you’ll still have doubts. I’ll reveal this in a moment.

I’ve helped hundreds of thousands of start up and scale up business owners in the last 11 years, and most of these people initially think you can’t just increase your prices overnight. Why?

• They think they will lose most of their customers
• They think their customers will complain
• They don’t think it is fair to their customer loyalty
• Other fear they don’t yet know is real

They only think of the cost of increasing their prices, and not the cost of NOT increasing their prices. After all, Apple and Rolex seem to have no problem with it.

So consider these 8 points and then test the following 7 points to significantly increase your prices (or face the costly consequences)

1. 10-20% swing won’t impress you much

If you had assets or investments, and they went down 10-20%, you probably wouldn’t go into a fit of panic or rage. Sure, you wouldn’t be happy, but you could probably handle it and control your emotions well enough not to make fashion selling decisions. If they went down 50% that could be a different story. And in reverse, if they went up 10-20% you probably wouldn’t be overly manic, excitable and plan your retirements. So a 10-20% value (or price) swing wouldn’t likely bother you too much. And so it likely is with your clients and customers if you increase your prices. Would a tenant move out for a 10% rent rise? Probably not because inconvenience and removals could cost years of that extra rent.

2. Most of price rise is profit (overheads covered on current pricing)

Most people don’t realise that if you have a 10% profit margin (let’s say you make £10 on every £100), if you increase your prices by just 10% (assuming no extra overhead) you double your profits with such a small price increase. All your overhead, staff, loan, premises, stock and more costs are currently covered (or not quite) by your current pricing, so all (most) of the price increase is profit.

3. Inflation

Every 15 years or so inflation halves the relative value of money. This means your prices need to have risen around 100% in that time, to not have risen at all in relative terms. So every 15 years you need to 2x your price to 1x your price. If you don’t meet this rise, your suppliers will and the costs or goods and services to you will rise, but your prices won’t and your profit will get eaten two ways, lower pricing and increased cost, which is the direct opposite of what you want to do.

4. Would you really lose all your customers?

If you increased your prices, would every single one of your customers really flock to your competitors? Really? Sure, you might you lose the demanding ones; the ones who want £10 for £5, but that could be a good thing (next point). Not all customers cost you the same overhead, because some customers are a huge drain on your time, resources, staff, customer service, refunds and cost you a LOT more than others (even in commodity based business). one customer could cost you 5 or 10x what another does, and as such the least demanding one has a huge profit margin and the most demanding one has a negative profit margin. So you know what you’ve got to do.

5. You won’t be able to grow or sustain your enterprise

If your margin isn’t good, because prices are too low (or costs too high), then you can’t sustain your business, and it will go bust, and the very customers you wanted to give a bargain or great service to end up losing out. Or future customers lose out. There HAS to be fair exchange, balancing the selfish and the selves, the profit and the service, the price and the value. That means depending on your business niche and scale between 5% and 50% net profit margin sustainably, even and especially through leaner times.

6. If prices are higher, service & value are better

Or at least they should be. if you have fair profit margin you can give a better service, reinvest to innovate and improve your product, and overdeliver. Price is what you pay, but value is what you get. You get less complaints and more gratitude the more value you can offer, and you can’t do that without any margin. Rolex put their prices up regularly, sometimes as much as 10% in a year. The Daytona has almost doubled in price in the last 8 years yet the waiting list to get a new one is 9 years or more.

7. You will resent customers if your prices are too low

When I was an artist, struggling to sell my work and make any money, I had guilt around pricing my work. I’d sell my art for less than it, and I, was worth, then I’d be bitter towards my customers. But they aren’t going to offer you 50% more than you price your products. If you increase your prices you can always discount them. The low prices that cause resentment become a self fulfilling prophecy in that you don’t want to give service and gratitude, because you aren’t making any money. And none of it was their, or the markets fault.

So here are 6 ways to increase your prices and increase your profits without losing all your customers:

1. What about a higher end product?

Most people wouldn’t buy a £50k Toyota, so they created Lexus. Nissan created the GTR ‘brand’. Apple have the iPhone X. Giorgio Armani created Armani exchange at the lower end, and Collezioni at the higher end. If you are concerned about increasing your prices, create new models or even brands, to protect existing products and smash through price ceilings.

2. You doubt it, but you haven’t tested it. So test it

Unless you try, how will you ever know? Why not test a higher price point to a small segment of customers? You could sell newer or more expensive versions to proven, high paying customers, or even new ones. The market will tell you the optimum price, and sometimes that price is actually higher than you think. Low price means low value in the minds of many of your customers. You should always be testing new products and price points anyway, to innovate and grow through market and competitive forces. Do. Not. Wait. Or guess. Test.

3. Commodity or rarity?

Some people feel their product is commoditised, the price is set, and they couldn’t increase it as no one would buy their products. They could be in a very mature or competitive market. But even in those cases, you can usually find a way to increase profit margin. Airlines are price competitive, so different classes of travel and add ons were created. You could add bolt on services. Uber created Uber Exec and Lux. Or, you could simply move away from a commodity model into a rarity model, like Sunseeker, Ferrari or Audemars Piguet. You have a desirable product, finite supply and therefore virtually no price ceiling.

4. Invest in your brand & your equity (prices) rise

Market forces encourage reinvestment in quality and innovation to get the edge over your competitors and differentiate yourself in that marketplace. Do not get lazy or complacent, re-invest into improving and innovating existing and new products and services to increase the quality and value. As you do that will push the price up. But it only goes up if you push it up. ‘Brand equity’ is the goodwill value in your brand. how you do anything is how you do everything, so invest in brand value, reputation, customer care and service, as well as product improvements. Build your customer base and give value to your followers and fans, and they will be loyal in spending with you, even if you are more expensive.

5. Price escalation model

You could, if you are not that brave, increase your prices gently, around 5% a year. No one would likely bat an eyelid if it is that small and incremental. What’s stopping you? What’s the worst that would happen?

6. Increase VALUE first

Still here? Still not convinced to up your prices? Then try increasing value first, and you will see prices rise in alignment. You could offer extra care, add on services, better quality, or simply roll in all the above benefits in one go. But if you don’t then increase your prices you could have increased your costs and therefore reduced your margin.

7. Let your worst customers go

Not all customers have the same overhead costs. It is likely that 20% of your customers are causing 80% of your customer service, complaints and time drain. So let them go. Don’t offer them future products, let them expire gently. Once you do this your overhead will reduce and importantly, you will FREE UP time and space for higher quality, higher spending and less demanding customers.

As you raise your prices, incrementally of exponentially, your self worth rises in alignment. This in turn radiates gratitude from you to the customer, and back again. You then attract better people (staff, customers and partners) to your enterprise. That ‘goodwill’ goes back into the care or your product or service. And of course the reverse is also true.

What have you got to lose, other than your worst most demanding customers? TEST. Now. The answer to most of your business problems raised at the beginning of this article, and the easiest way to dramatically increase your profits is this: Put – Up – Your – Prices – Now.

Remember when a phone used to be free with contract? Now a new iPhone is over £1,000!

Source: http://unlimited-success.co.uk/blog/significantly-increase-priceswithout-losing-customers/

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SUSTAINABLE GIVING FOR BETTER LIVING

ARE YOUR DONATION DOLLARS MAKING LONG-TERM POSITIVE IMPACT?

The secret to living is giving, but what are the best ways to give? Maybe you volunteer or make regular donations. But does this help create systemic change or solve the real problems creating poverty and need? What are sustainable, productive ways to help others surpass their need for outside aid and thus, in turn, start giving back to others?

To put it another way, one persistent problem with charities is that if they succeeded in their missions – as in their clients no longer need what they have to offer – they then put themselves out of business. Worldwide conversations about unconditional basic income and government subsidies raise questions about creating dependency. But to assume people need help because they are lazier or less motivated than others is a mistake.

Take these three models of giving, all aid types that help people break free from the cycle of poverty, supporting the creation of lasting change in their communities as a result.

DIRECT GIVING

Evidence has been mounting about the effectiveness of cash aid over traditional aid to the poor, such as food or seeds, for years, reports NPR. But evidence and data still must fight against preconceptions about what aid should look like.

Today most aid comes as “in-kind” donations, meaning the aid providers decide what poor people need most, whether that’s schoolbooks, certain foods, or other assets. But what happens when the people who need help decide what they want to spend money on?

A recent study in Zambia looked at how people spent cash they were given with no strings attached through two government programs. They found the cash had an incredible multiplier effect. Household spending increased by over 50% more than the government aid. In other words, if someone got $150 from a program, that same year they spent $300 more than they had before. People used their free money to make more money, boosting the overall economy as people spent their money at local shops and businesses.

With such incredible returns, scaling this program seems like the logical next step. Yet persistent beliefs about who should get aid – the elderly, people who can’t work – instead of able-bodied people living in poverty means this particular initiative is only growing slowly.

Other organizations like GiveDirectly have also found lasting impact from single-time donations to poor people with no strings attached. People often use the money to start small businesses or invest in their children’s education, leading to lasting improvements in their quality of life.

TRAINING INSTEAD OF DONATING

Other initiatives strive to create local job opportunities through training programs. Warby Parker’s “Buy a Pair, Give a Pair,” works through this model. Instead of donating frames to communities in need, the company partners with organizations like VisionSpring to train people who then sell ultra-affordable glasses.

The benefits here are twofold: people who sell the glasses can earn a living and people with untreated vision problems can get back to working and learning now that they can see. VisionSpring calculates that glasses can increase a person’s productivity by 35% and their monthly income by 20%.

FEEDING TO FUEL CHANGE

What about need in the USA? Food insecurity (a lack of consistent access to food to support an active, healthy life) impacts an estimated one in eight Americans; that’s 42 million Americans, including 13 million children. Without consistent access to food, it’s difficult for people to live productive, healthy lives. But feed someone and they have the energy to live in a high quality way.

“In this country we have a large empathy gap,” explains Diana Aviv, chief executive officer of Feeding America. “A lot of people think that because we have a low unemployment rate, at the moment, that the problem of hunger is poor people are lazy and anybody can get a job if they like. That’s just not the case. Well over 50% of the people who are part of our system are kids, seniors, peoples with disabilities or working families.” Feeding America fights to end hunger with their national network of food banks and meal programs, aiming for a hunger-free America. It’s why Tony Robbins himself supports their cause so strongly, with annual 100M Meals challenges every year where he matches all donations – with the goal of providing one billion meals by 2025.

TAKE SUSTAINABLE ACTION

Ready to add your contribution and help make lasting change? No matter how you give, do your due diligence to see how the organization manages its resources. Charity Navigator and GuideStar both give you a closer look at how organizations use your donations. The best organizations are transparent about their contributions and expenses as well as their vision for breaking the cycle of dependency, improving life for us all.

Source: https://www.tonyrobbins.com/leadership-impact/sustainable-giving-better-living/

Compounding - The Tortoise and the Hare - The True Secret of Trading Success

Have you ever heard the story about the Tortoise and the Hare? I am sure you have. But what you probably didn’t realise is that the story can be linked to trading. In fact, the Tortoise and the Hare is pretty much how I would categorise the successful Trader (the Tortoise) and those who never seem to get anywhere (the Hare).

In this blog post we are going to look at compounding. I am going to explain to you how it works, and beat the marching drum for it, in the hope that some of you fall into the slow march.

There are two categories of Traders out there. We have the get rich quick, fast cash brigade first. This is the Hare. This person wants to become a Trader and they want to become a millionaire and watch their account swell. They want it NOW. Sadly, this is the predominant type of person learning to trade. There are thousands of websites

that cater to them, promising ‘secret strategies’ and ‘financial freedom’ and ‘fast results.’ This type of trader has wild swings on their account. Sometimes they DO make large amounts of cash. But they lose it just as fast. They spend months and oftentimes years banging their head against the wall of Fast Cash and continue to make the same mistakes over and over again. Sadly, the result is always that eventually, they are forced to stop trading. They either lose too much money and can’t afford to continue, or their body has taken such an emotional beating that they are forced to retreat.

Whereas the Hare lost his race by being cocky and taking a nap, the Fast Cash Trader loses because instead of going at a sustainable pace, they try to go faster and faster until their heart gives out and they keel over. The answer to problems for the Fast Cash Trader is to increase risk, to trade more, and to attack markets until they get what they want.

They don’t understand one of the REAL secrets of trading – which is compounding. Instead, they want to make 100% per month. They want to make this amount because they need to make this much so they can live off of their trading income. Remember, they want to do that NOW. They need to make a certain amount each week for their wage. There is no future planning, they just want the money. If only someone could show them that by demanding the Fast Cash, they are instead making it impossible to succeed.

Now let’s look at the Tortoise. This Trader isn’t particularly exciting. They think in terms of years, rather than short term. This Trader understands that by taking a long-term view, and by allowing one of the true secrets of trading to work its magic, they can achieve their trading goals.

To understand compounding, I’ll tell you a quick story I was told when I was a teenager. My Dad told me a story about a man who went to play a game of golf. The person he was playing against said, to keep this interesting, let’s bet some money on each hole. We will start with £1 and double the risk each hole we play.

Now, that sounds absolutely fine, doesn’t it? A friendly game of golf with some risk between friends. But how much do you suppose they would be risking by the 18th hole?

By the 18th hole, they would be risking over £131,000.

And that, is the magic of compounding.

Now, I was around seventeen at the time. So, in all honesty, it blew right over my head. I was more interested in what my friends were doing at the weekend and what house party we were all going to so I could try my best to chase girls (and fail miserably as always).

But, once I found Trading, I understood the real power behind compounding.

It is IMPOSSIBLE to sustain huge Trading returns. I did a video about this on the YouTube channel called – The Most Common Trading Scam I see and the Number One Reason Beginner Traders Fail. I am not going to touch too much on it here. But rest assured, if these idiots promising even 50% returns per month could be believed, you would be the richest person in the world in a couple of years starting with only a modest account. It just isn’t possible. Sorry to burst your bubble, but if it were, banks and hedge funds with multi-billion pounds of spending power would be doing it, not some idiot sitting in his bedroom on his laptop. Instead, you’ll be back to being the Hare – running really fast and going exactly nowhere, over and over again.

But we are interested in the Tortoise. And it is important because it can help you take a HUGE amount of stress off of your shoulders as you learn and start to find consistency. By putting an arm around the shoulders of compounding and by accepting trading as a long-term venture, you can achieve your goals.

Let’s say you are at the stage whereby you are finding consistency as a Trader (If you’re not there, then that is fine also. You are still in the learning phase. Just take your time and protect your capital. The compounding can come after you learn. Crawl first, then walk). Now, when you start to become consistent, the danger is there that you suddenly ‘want to be a Trader’. And by saying that, I mean you want to quit your job and live life on a beach. The problem is, to do that in most instances, you would need to take on huge risk. And that will drop you right back down to being a Hare. Most people start with a smaller account, it is simply the truth of life. And the hard fact of life is that a small account is not sufficient to sustain you as an income source.

But let’s look at that long-term view. We will start with a relatively modest account of £5,000. And we will use compounding over a five-year period.

The problem with trading initially when you have a small account, is that you ARE looking at the monetary returns. You make a few hundred pounds in a month and instead of realising how well you have done, you think, ‘I can’t live on that’. So, you beat yourself up and try and do more. If you only took a proper view on it, you would understand how well you are doing and how you are setting yourself up moving forward.

Let’s now say you decide to risk 2% per trade. Your target is 5% per month. And you are going to let compounding do its work. So, that means you will need to be ‘up’ by around 2.5 trades per month (if looking for 1:1 risk reward). You don’t need to take ten trades per day; you don’t need to double your account every week. Just 2.5 solid trades per month.

If you only focused on the monetary return, it would be easy to get disheartened. By the end of 12 months, you would only have £8,942 in your account. Again, you start to think that you can never live on those sorts of returns. This is where people go wrong. Again, the desire to up your risk comes in. Disaster ALWAYS follows. What you should be focused on is the fact that you are making great returns in percentage terms. And you are building your trading knowledge and your discipline. JUST KEEP DOING WHAT YOU ARE DOING.

By the end of year two you are at £16,060.

By the end of year three you are at £28,841

By the end of year four you are at £51,795.

Do you see the power of compounding in action? What if you decide to go for another one year?

By the end of year five you are at £93,000!

Now, do you think by the end of four or five years you have not only the ability, but thanks to compounding, also the account to look at trading as a more serious venture? And here’s something else that you can do – at the end of that time, take a look around at all the Hare’s who were chasing the fast cash and the huge returns. I can guarantee you they won’t be trading full time and will either be running through another cycle of ‘ok, this time I got this. I am going to make so much money!’ Or else they will have stopped trading altogether.

The problem with compounding is that people don’t let it have the time that is required for it to work. It is a snowball, that grows exponentially the more you roll it down the hill. You start small and you just stay focused on the process, not the outcome.

Five years. You can either ignore it and keep running full speed ahead like the Hare, lots of pace but never getting anywhere. Or, you can accept the reality of the task at hand and start building your foundation for the rest of your trading career.

I hope you’re all having a great trading week!

Source: http://www.thinklikeatrader.co.uk/2018/02/compounding-tortoise-and-hare-true.html

THIS IS KEEPING YOU POOR

Kim Kiyosaki of Rich Dad Poor Dad explains the 3 different types of income as part of his Millenial Money video series

10 Ways To Invest Money While You Have A Full-Time Job

10 Ways To Invest Money While You Have A Full-Time Job

Most of us don’t necessarily love the jobs we have. We all had wonderful plans for ourselves growing up. But our jobs pay, so here we are. But wouldn’t you just want to break away from all this charade? Do the things you’ve always wanted to do? Sure, who wouldn’t? But that requires money, the only source of which right now is your job.

But we do truly live in a golden era where anyone anywhere could make small investments and possibly make money off of it. Even though investing on oneself, one’s education, skills, health etc., would still be the best investment for the long run, most of us are looking to make investments that could actually make us money right now.

So, here are ten ways you could invest money while also maintaining a full-time job.

1. Peer-to-peer lending

This is possibly the easiest investment you could make. Peer-to-peer lending involves you lending some money to a peer in hopes of making a profit out of the interest in the returns. Now of course this peer has to be someone you know or trust, so that alone reduces the pool of potentials. In a way, this method could be deemed as risky as it is simple. However, if you abide to the golden rule of lending anything including money, “Don’t lend something you can’t afford to lose”, the risk is definitely worth the simplicity and potential profit.

2. Investment in precious metals

Precious metals are a very controversial investment. Some deem them the best investment one could make, others deem them the worst. Truth is, they could be a little bit of both.

The fluctuation in their prices aren’t as predictable as other things since they’re mostly dependent on the rise and fall of the dollar. However on the plus side, if a small investment is what you wish to make, the potential profit usually balances out the potential risk. Besides, precious metals like gold and silver are among the last remaining material investments one can physically hold on to.

3. Trading forex

Forex or the foreign exchange market is the world’s largest financial market. Everyday trillions of dollars are exchanged through forex and that is vital to the economy. Businesses, governments and investors use forex. Businesses use them to facilitate foreign trade, governments to implement policies and investors study the market and predict the rise and fall of the exchange rates and capitalize on this.

For as little as 25$ you could get started on foreign currency trading. The basic idea is that you buy a certain amount of a foreign currency and sell it at a higher price when its valuation is higher than what you originally paid.

4. Trading options

Options trading is a process that lets you control a stock or an asset without actually owning it, letting you capitalize on its price chances. An options contract allows you the right to buy the shares owned by another person for a certain price known as the strike price before a certain date in exchange for a certain premium.

If the value of the share rises, then you can buy the shares for a price cheaper than the market price and then sell it at the market price to make an overall profit. If instead the value of the share falls, then you may decline from buying the stocks but you lose the premium you initially paid.

Options trading can make a great investment if you understand the market.

5. Trading futures

Futures trading involves investing in a volatile market and capitalizing on the fluctuations while providing stability to the businesses you have contracted with. With the pay of a full a time job, you can possibly afford to contract with small local businesses.

If the market prices drop and the businesses can manufacture cheaper, then you get the profits. However, if the market prices rise and the manufacturing becomes more expensive, then you lose money. Once again, like options trading, if you are well educated about the market then futures trading make great investments.

6. Investment on real estate

Real estate prices continually rise and fall. And like precious metals, they are assets you can physically hold on to. If your pay can’t afford to invest in real estate around you, there are options around the world.

Many countries allow foreigners to invest in their real estate and if you’ve assessed the risks well enough, they may potentially prove to be a great investment. This is specially true for developing countries where a cheap real estate can be worth a lot more within just a few years. Once again, this requires great research.

7. Crowdfund investments

This could possibly be the best option for someone with a full time job. In crowdfund investment you are only require to invest a small portion of the required amount, and your future returns depend on the amount you have initially invested. This gives you the option to invest on big businesses that could potentially make a lot of profit. Furthermore, since you’re only investing a relatively small amount you could invest in a number of businesses and expect at least some of those to make you a profit.

8. Buying stocks from established corporations

Stocks of established corporations are usually a safe bet. Let’s say you are willing to invest a thousand dollars a month from your salary. You could buy 20 stocks worth 50 dollars each. Since big corporations are constantly at work to try and increase their profits, stock prices are sooner than later bound to increase too. You could then sale some or all of the stocks you own to make a profit.

For an established corporation, worst case scenario may be the drop in stock prices by 5 or 10 dollars, because they don’t usually go below that. You’ll only be losing a $100 or $200 of your initial investment.

9. Being a silent partner in small businesses

Small businesses don’t usually require a lot of money to operate. The $1000 you agreed to invest in stocks in the previous point could very well help run a small business somewhere else.

Furthermore like real estate, you are not restricted to invest in businesses near you. In a developing nation, the $1000 could mean a lot and could help establish a number of businesses that could in time grow to be profitable. Becoming a silent partner means you don’t have to worry about the operations of the business. But once again, you need to be sharp on your assessment of the business and the person running it before you invest.

10. Buying penny stocks

Penny stocks are common stocks that are valued at less than a dollar. Investing in penny stocks is therefore considered highly speculative. They seldom make a good investment so unless you’ve run out of options, you should stay away from them. However since they are already so cheap, there is no other place for their prices to go but up. If you buy a lot of them (since they are all so cheap), at least some of them are bound to make you some profit. At least, these are the general assumptions surrounding investment in penny stocks.

Source: https://www.lifehack.org/359768/10-ways-invest-money-while-you-have-full-time-job

How to Save Money on Days Out and Holidays

How to Save Money on Days Out and Holidays

Families often struggle with budgeting for their summer holidays and days out during school breaks. The good news is that you don’t have to spend a fortune if you learn the small tricks only a handful of parents know about. Whether you are planning to go to the beach or visit a popular seaside town for the day, there are plenty of ways you can make your money go further. Below you’ll find a few tips on how to enjoy time with your family more for less.

Book Midweek

When planning a summer vacation or a main beach holiday, it is important to know when to book. A couple of months before your travel date is recommended. It is also a good idea to check popular flight comparison sitesand sign up for alerts. Some of the pages will even tell you whether you should book your flights now or wait for the prices to drop. Plane tickets are generally cheaper Tuesdays through Thursdays, and rise again by the weekend.  

Go All Inclusive

When traveling with kids, it is hard to control your spending budget. They will see the next shiny thing, such as an ice cream flavour they haven’t tried yet or Bubble tea, and there goes your money out of the window. It is always better to book all inclusive when you travel with kids, so you can at least feed them three times a day and only have to pay for snacks and special treats out of your pocket.

Use Vouchers and Coupons

Before you visit holiday booking sites, you should also check out voucher and coupon pages, to see if you can get a discount offer or a money off voucher. Visit netvouchercodes.co.uk to grab a discount offer on cruises and package holidays. You are likely to find some attractive offers that will suit your budget and travel style.

Get a Pet Sitter Instead of a Kennel

One of the greatest expenses of families going on vacation is getting the cats and dogs boarding. You don’t necessarily need to pay up to £50 per night for your pets. If your dog or cat is safe at home, and they are not likely to damage the furniture, you can hire a pet sitter or a dog walker who will look after your four-legged family members while you are enjoying your holiday, as well as keeping an eye on your house.

Family Insurance

You might want to take out an annual travel insurance that covers all your family members and save money. Individual policies are not good value for money. If you have a premium bank account, chances are that your policy will be included in your monthly fee. Check the terms and conditions to find out about the details, such as the excess amount and the events covered.

Families should make their money go further by shopping smarter when planning holidays. Use the above tips to stretch your budget and enjoy your family time.

Source: https://blog.themoneyshed.co.uk/how-to-save-money-on-days-out-and-holidays/