Getting a loan can be a difficult process to understand, if you aren’t sure what banks and lenders are looking at.  Before you try to get a loan, make sure you are aware of a few things, so you are not caught off guard when you go to apply for funding. Although applying for a loan can feel as difficult as trying to install a car seat for the first time, it should really be viewed as a series of questions that need to be answered, in order to give the loan office a better understanding of who you are, and your ability to repay.

Income Is One Of The Most Important Questions

Your income is one of the questions that will be asked when you fill out a form. You will be asked how long you have spent at your job, the amount of money you make (either per hour or for the total year), and how much you get paid. If you are self-employed, you will be expected to file tax returns, and provide that information when you come in to apply for a loan. Although this may seem invasive, it can go a long way in helping the company who is lending to you understand more about your abilities to repay.

What the Loan Is For

Everyone needs a loan for different reasons. From car loans, to a mortgage to get your house, and even personal loans to help you make a small purchase, there are many different instances where individuals would need a loan. Be ready to specify what type of loan you are applying for, and what exactly it is needed for. Although many lending institutions are happy to help, they will want a clear picture before they offer you any money for your loan.

How Long You Are Willing To Repay It Back

This may vary based on the loan offered, and what it is for. Although the bank or lender may set the rates of how much you will pay back, it is helpful to know that the sooner you pay it back, the better off you will be. Paying items off with interest can leave you paying more in the long run, than if you had paid everything off right away. Keep in mind that anytime you take out a loan, you should make it your goal to pay if off as quickly as possible.

Getting a loan for the first time (or anytime) can be a scary process. If you know what to expect and what you will need to do, that is half the battle. Make a point to find out what questions are asked for you particular type of loan, and go in armed knowing you will need to provide information on your income and what the loan is for. Although how much you pay every month is not entirely in your hands, try to pay everything back as soon as you can to make life easier in the long run.

What you might get out of day trading is very personal. Some might get a side income to help them get out of mountains of personal debt. Some might use penny stocks to build up a nest egg that allows them financial freedom and early retirement in their 40s. Others might really enjoy the day to day of small-cap stocks and their fluctuations, so they might make it a 9-5 style career.

Penny stocks are one of the avenues that day traders use to make real profits on a day-to-day basis. Penny stocks are defined by the Securities and Exchange Commission as stocks whose shares trade anywhere from $2 to $10. Anything trading under $1 tends to be listed on OTC sites and the Pink Sheets online, which harkens back to the days when penny stocks were actually listed on sheets of pink paper.

Since penny stocks are so small, how do you actually get to a profitable state while trading them? Well, as with any sector of day trading, you need strategies and techniques to cut through the noise and identify stocks that might actually make moves. The volatility of penny stocks are a warning sign for traditional, buy-and-hold investors, but a siren song for day traders of all stripes. Day traders eat their lunch, dinner and late-night snacks on volatility. The violent fluctuations of penny stocks make it that much easier to make money, when you are trading so quickly and so often.

But the key is that you must have a plan. Going into each trade with any idea of how much profits you expect to bank and how much loss you are willing to take is essential to any long-term day trading career. The stats say that 90% of day traders lose money. But that is because many novice day traders look to learn on the job, by trial and error. That results in a lot of marks losing their money.

Learn the strategies before you start trading real money is key to avoiding that sort of situation. Finding a community of traders that share your outlook and help each other with tips and advice is a great way to start trading penny stocks. You can try out a community like Warrior Trading, where you can spend time in the site’s chat rooms, with an eye on learning the ropes and making friends.

Then you can use their online day trading classes to increase your skills and absorb the strategies that will help you win, like gap & go trading. The specifics of each strategy are there for you to grasp, then you need to spend time in a trading simulator that allows you to make trades with virtual currency and learn how to plan for each and every eventuality.

Once you are making $200 a day in virtual profits, it is time to hit the real market. That experience and screen time will prove very valuable when you are trading penny stocks for real and it your actual money on the line.

Forex 101 for Beginners

Justin W —  July 25, 2017

Those beginning online Forex trading, especially beginners can find it daunting. The number one beginner mistake is to have unrealistic expectations. This is very common especially among Forex newcomers who see it as a get-rich-quick scheme. When starting Forex trading with currency, it is important to understand that rarely do Forex traders get wealthy overnight, a week or even a month. Having this mentality will save you from losing a lot of money. This is especially true when one considers that statistics show 90% of newcomers lose almost 90% of their investments in less than 90 days. To avoid being another statistic, here are a few guidelines you can start with to be a successful Forex trader.

Getting in the Forex trading can be overwhelming at first. However, you can try out using a risk-free demo account such as the CFD demo account from CMC Markets. This will at least assist you in getting acquainted with how trading is done. It is equally important to know the market you will be trading. This is because the market is shaped by the combination of all participants.

When first getting into the market, you should at least aim at preserving your capital rather than growing it. To do this, you need to minimise risk by using a long term trading stance. It is a common beginner mistake to expect to make money from short-term trends. The Forex market requires patience and modesty, and successful traders will attest to making money by mostly investing in long-term trends. By holding on to your open orders for a longer time, they act more of an investment rather than a lottery. In addition, this will be less stressful since you will not be spending a lot of time staring on the screen assessing how they are performing.

As a beginner, it is highly advisable to start simple. This will ensure that your trading strategy is manageable and easy to follow. Starting simple will also eliminate most of the frustrations associated with Forex trading. You may be confronted with a myriad of tools when trading online Forex. What you need to realize is that it is not the amount of tools that will enhance your chances of success, but how well you use the few tools you understand.

Forex trading software will come in handy both for seasoned and beginner traders. The fierce competition in the market between brokers means that there are free Forex trading software. However, you may find the free software limiting. Thus, it may be advisable to buy software if it will be of better assistance.

In the Forex trading market, analysis is a vital concept. This means that traders who learn their way through looking at charts and making decisions are at forefront. Charts can range from daily, weekly or monthly, depending on your trading. Analysis will be both be technical and fundamental. For example, the tools for technical analysis are trend lines, support and resistance lines and indicators based on these lines. Fundamental analysis will involve gaining an understanding of how events and policies shape the market.

The market can sometimes be volatile. While this can be to your advantage, it can also wipe clean your investment. Thus, it is advisable to be extremely careful in volatile markets. You should also incorporate volatility analysis into your strategy. Nonetheless, you should always be prepared for anything to happen in the Forex market. While you can depend on Forex news such as those from Bloomberg or CNN among others, the Forex market has a way of making them obsolete. The news you see has already been discounted by the industry and it comes too late. If you rely on news, you will be too late and this may backfire.

It is also important to realize that there are hundreds of available markets you can diversify your investments. Therefore, you should not limit yourself by focusing on major markets since this often leads to over-trading. When trading, you should consider both the opening of the trade as well as the closing of the trade. Giving them equal priority will help you avoid making heavy loses. In conclusion, since financial trading is legally regulated, make sure you are legally protected.

Buying car, life, and homeowners insurance are all ways to protect yourself from the unexpected.  However, despite all efforts to prepare, life changes can affect your insurance policies in ways that may surprise you. No matter what types of life insurance policies you currently carry or how you insure your current vehicle, the changes you endure in life may change your coverage, and being aware of them can help you prepare and protect your finances.

1.     A Change in Income

A change in your income, whether you are going to be making less money or more annually, can have an unexpected impact on several of your insurance policies. Depending on the change, you may qualify for new discounts, special incentives, and other perks. However, if your income will be dropping, you may want to report it to your insurance company right away, as your insurance agent may be able to adjust your premiums and make payments less of a burden.

2.     A Marriage

Getting married can impact your life in many ways, but one area you may not consider right away is how this union can change your insurance status. For example, if you are a single woman and then get married, your name change and your marital status should be reported because you may have to merge your existing policies with those of your spouse, or it may be necessary to create new ones. If you and your new spouse plan to have a joint auto policy, this may save you money, so it is something to consider once you are married.

Getting married can also cause significant changes to your life insurance policy. You may want to change your beneficiary, or your spouse may want to add you. You might want to review your policies with a qualified agent to ensure they are modified in a way that will cover your both.

3.     Birth of a Child

The birth of a child is one of life’s most blessed events, but it can also be one of the most life changing as well. Being responsible for the care and protection of an infant will now be a major priority for you, and as such, you may have to adjust one or more of your insurance policies to include your child as a beneficiary or include him or her under a blanket of coverage.

If you adopt an older child and he or she is old enough to learn to drive, adding him or her to your car insurance policy may cause your rates to go up because of their age and driving inexperience. If you live in Northern Ohio, you may want to contact a Cleveland insurance agency to assist you in reviewing your car insurance, as the experts there may be able to help you find discounts and more affordable premiums.

4.     Buying a New Home or Car

You should notify your insurance carriers right away if you plan on buying a new home or auto. The size of home you buy or the type of car you choose could radically change your insurance coverage.

Life can change unexpectedly and change your insurance status as well. However, it does not have to result in higher insurance premiums or policy confusion, especially when you take steps to plan for the future.

While Christianity is filled with competing voices like anything else, there are many things that I see as common sense. One of these is caring for the environment. Maybe I am naive, but I think it only makes sense that God would want everyone to care for the world that God created. Why would any creator create something and not care if anyone destroyed it? To put it simply, God DOES care whether we preserve the environment that we are responsible for.

This may sound a little idealistic to many of my readers. And in many ways, it is. It is idealistic. It is one of those “perfect world” attributes. It’s idealistic because real life is much more complicated than caring for the environment or not. Most of us probably drove to work today, emitting CO2 along the way. It’s easy for someone else to say that you need to take public transportation, live within walking distance, or bike to work, but it’s much more complicated than that, isn’t it? We obviously need to work and earn a living for our families, but at what cost to the environment. Until recently, there was no easy solution to this dilemma.

What’s changed? The introduction of the hybrid or the eco friendly car. Along with the invention of hybrid or electric cars, we have seen the fuel efficiency increased of cars and the potential for decreasing the CO2 emissions. Today, I’d like to talk about whether the hybrid is a necessity for bible-believing Christians.

Green Bible Verses

For those who don’t agree with my basic premise that environmental concern is a Christian theme, here are several passages that illustrate the green theme within the Bible.

Genesis 1:31

“God saw everything that he had made, and indeed, it was very good.”

Numbers 35:33-34

“‘Do not pollute the land where you are… 34 Do not defile the landwhere you live and where I dwell, for I, the Lord, dwell among the Israelites.’”

 Psalm 19:1

“The heavens are telling the glory of God; and the firmament proclaims his handiwork.”

Revelation 11:18b

…destroying those who destroy the earth. 

While I don’t have time to give the context of each of the above passages, suffice it to say that each one supports this idea of preserving God’s creation. Throughout the Bible we are told to preserve that which God has given us. Why would the earth be any different?

Why You Should Get a Hybrid

Getting a hybrid car may seem like an unnecessary expense (or too costly of an expense to justify the reward), but it is well worth it. In fact, there are a number of benefits for getting a hybrid.

  • Lower Fuel Costs – The obvious savings on gas is huge. If you look at the best green cars and see that they get 50% better MPG, that means your fuel costs are 2/3 of what they used to be.
  • Less CO2 Emissions – While this may also be obvious, people fail to realize how much lower Carbon Dioxide levels benefit them. It not only means less pollution to the earth, but also lower rates of environment-caused diseases/medical conditions.
  • Increased Focus on Hybrids by Manufacturers – Another benefit of buying a green car is that it notifies manufacturers that consumers want more fuel efficient cars. Manufacturers want to make a profit, so they will target their products appropriately. Think about how big of a change the car industry could have if consumers demanded more fuel efficient cars. It is starting to move that way now with completely electric cars, but it still has a long way to go.

While it may take a few more years for hybrid cars to become popular, it doesn’t mean that you should wait. The increased affordability and instant savings in gas should be enough. If it isn’t, consider your ethical commitments to preserve that which God created.

It is tax season again and you may be asking yourself, “Should I invest in a tax professional this year?” Depending on your life circumstances and the complexity of your taxes, the answer is probably yes. While we may like to cling to our tax software that allows us quick access and less face-to-face communication, sometimes there is nothing like the real thing. A tax professional can help you with a myriad of issues regarding marriage, divorce, new children, small businesses, deductions, and so much more. If you are still unsure as to whether you should hire a tax professional, here are the reasons why hiring a professional could work in your favor.

Save Money in the Long Run

In the beginning, it may seem not worth it—why pay money for something you can do yourself? The difference between you and a tax professional, however, is that they have spent many years studying the subject of tax law and refining his or her accounting skills. You may have to pay a $250 fee, but the deductions they can find will add up over time to create a much bigger refund in the end that far outweighs the cost.

Save Time

Let’s face it, in your busy life, you simply do not have the time to invest in your taxes. Or rather, you may have the time, but why do it yourself anyway? If you are an especially busy person obligated to your job, your family, or other priorities, you may be spread too thin to possibly take on one more task. Not only is doing your taxes actually taxing (no pun intended), but you are likely to make more errors if you are under additional stress.

Reduce Errors

As mentioned above, there is always a chance you will make an error. In all likelihood, however, a tax professional will be more adept at finding potential errors and either preventing them or fixing them. This will reduce the chance that the IRS contacts you with a discrepancy or that you suffer a penalty for some unintended reason.

Get Expert Advice

There are tax professionals, such as financial analysts and certified public accountants, who are more than qualified to give you his or her expert advice. This is something that tax software can’t do—put a human touch on the finance experience. Form a business relationship with a tax professional so that you can consult them in regard to you financial future. Whether you wish to fine-tune the finances of your business, ensure the financial security of your family, or plan your next vacation, there are many ways a tax professional can put you on the right path in order for you to achieve your goals.

Representation During an Audit

If you ever have a reason to be represented before the IRS, many tax professionals are qualified to do so. Attorneys, enrolled agents, and certified public accountants are all certified by the IRS to have unlimited rights to represent the tax payer before the IRS. Whether you received an undo penalty, an audit, or a Notice of Intent to Levy, a tax professional can ease your troubled mind by putting in the muscle-work for you. Their dedication to supporting you will prove to be instrumental as you navigate those times. In addition, audits have increased. You are more likely to get audited more frequently now than in the past. Therefore, you will want someone on your side who can gather all of your records or and represent for you. If you are having issues regarding your taxes, a professional can help you by helping you benefit from the IRS fresh start initiative.

Peace of Mind

At the end of the day, it just feels better to know that you are in good hands. A competent and ethical tax professional will work to give you the best out of your refund while remaining in the bounds of tax law. You can be confident that your trusted tax professional will look out for you and your financial wellbeing.

 

Penny Stock Fundamentals

Justin W —  February 7, 2017

One of the biggest mistakes penny stock investors make is judging only the company and not analyzing the fundamentals of the stock. Today we are going to go into some penny stock fundamentals that you should understand and utilize to maximize your earnings. After you have learned the fundamentals we have listed below, check out Warrior Trading on Facebook. On their Facebook page they share great information on penny stock fundamentals that will help increase your penny stock vocabulary and breadth of knowledge.

With we analyze a company’s stock price we are looking at a company’s revenues, profits, losses, and projections for future performance and expectations.

Revenue

Revenue is the money a company earns for its goods and services. It does not take into account the cost to produce the good or run the company, it is simply a measure of the money coming in the door from selling the goods or services offered by the company.

Profit

Unlike revenue, profit takes into account the cost to produce the good or service. Profit is the amount of revenue that exceeds the expenses, costs, and taxes to sustain the business activity. There are three types of profits that you should familiarize yourself with: gross profit, operating profit, and net profit.

Earnings Per Share

You calculate earnings per share by taking a company’s profits and dividing it by the total number of outstanding shares. Earnings per share is an indicator of a company’s profitability and can be an important indicator when trading penny stocks.

Price/Earnings Ratio

You’ll notice in the chat rooms that everyone loves spouting off P/E ratios and what they think they mean. The P/E ratio is a stock’s price divided by its earnings. It is a measure of the stock’s current share price relative to its per-share earnings. The ratio is often used to analyze how expensive a stock is.

Technical analysis of a penny stock is more accurately judging the stock based on its price as opposed to judging the company. Since you are actually buying the stock, and not the company, it makes more sense to concentrate of the technical analysis of the stock price then the company. Once you can identify and analyze this technical data quickly and efficiently you will be in a much better position to trade penny stocks successfully and take your penny stock trading to the next level. When you are ready to take that next step go to Warrior Trading and check out their Step by Step Guide to trading penny stocks. They will show you everything you need to know about how to trade penny stocks. Good luck!