As I mentioned in my 2018 stock market in review article, asset allocation is very important in evaluating your investment portfolio. Many people perform their asset allocation themselves or hire a financial expert to assist with it. If you are looking to start performing your asset allocation yourself or learn more about it, I thought I would provide a high-level overview. Please let me know if you have any follow up questions, and I would be...
Financial scams are extremely common now. They put a lot of people at risk and in many cases you can lose a lot of money. With the advancement in technology, scammers are getting smarter and that makes it much more difficult to identify the scam before it is too late. As we enter into 2019, below are a few scams to keep an eye out on. Crypto Rip-Offs: Cryptocurrencies are so common now due to the...
For those who don’t follow the stock market on a regular basis, I thought I would provide a high level summary and recap. Most investors are relieved that 2018 is over. There were a lot of highs, including the tax-cut optimism, to quite a lot of lows, especially the last few months. From a U.S. stock market perspective, it was the worst performance since 2008 during the financial crises. The S&P 500 fell 6.2% for the...
You should never be shy about negotiating with your credit card company. Here’s why: you have a lot to gain and nothing to lose. The worst that can happen is that you get turned down and have to find an alternative solution. There are many things you can negotiate with your credit card company, including the following: • Balance: This doesn’t come into play often, but it may if you’re in a tight financial spot. If...
Some people know they have a good credit score, so they don’t see the reason in reviewing their credit report once a year. Conversely, some consumers know they have an average or poor score, which leads them to shy away from their credit report because they’re afraid of what they’ll find. Regardless of which group you fit into - or if you lie somewhere in between – you should get into the habit of reviewing your...
Sure, credit cards are a great way to rack up rewards points on your regular purchases or save money on a high interest rate balance, but there are plenty of other ways you can get tremendous value from your credit card. Pay off your balance every month. One of the ways credit card issuers make money is by charging interest to cardholders who take their time paying off a balance. The bigger your balance and the...
Even with the popularity of online banks on the rise, most people still have a relationship with a local financial institution. There may come a point when you begin to wonder if it’s time to find a new bank (or credit union). The right relationship is important to all aspects of your finances, so it’s nothing to take lightly. Here are a few signs that may point you toward a new bank: • Increasing fees: Are...
Many Americans are struggling financially, with a large number of Americans living paycheck to paycheck and others having to borrow to make ends meet. Americans who grew up in a home with parents who struggled my repeat their parents’ mistakes because they don’t understand the important parts of being financially healthy. As you work to improve your finances, focus on mastering these key areas. Spend less than you make. When your monthly expenses are greater than...
For most people, buying a home means securing a mortgage. Even if you have an idea of the lender you want to use, it’s critical to shop your options to ensure yourself of getting the best deal. Generally speaking, there are two ways to search for a mortgage: • Directly through multiple lenders• Through a mortgage broker The primary benefit of a broker is the ability to compare rates from multiple lenders, without having to do...
As a business owner, it’s important to have a thorough understanding of your company’s finances at all times. This could lead to a situation in which you recognize the need to borrow money. While there are many ways for a business owner to secure the financing they require, a business credit card is one of the best. There are many reasons for this, including the hundreds of offers and ability to receive an instant approval. A...
