Get Rid of Your Holiday Financial Hangover for Good

 

The holidays are supposed to be a time of joy and cheer. But for some people, they can turn into a financial nightmare.

Debt is a very real effect of the holiday season Almost 30 percent of people carry holiday debt with them for the entire year. For many, this is an endless cycle of paying too much, then trying to play catch up until the next season. It’s time to break free of this and get rid of your holiday financial hangover for good.

Create a Firm Budget

You’re going to have trouble over the holidays if you don’t create a budget for yourself. The holiday season is a time for giving. But if you go too far overboard, you’re only going to be giving yourself a headache. People who need to take on debt over the holidays on average acquire over $1,000 of it!

You need to put together a budget before you start spending any money. Include everything—from gifts to your gas costs. Keeping tabs on how much you’re spending over the holidays will inspire you to limit yourself.

Use Cash for Most Things

It’s typically easier to use a credit card or cashless app when you’re buying something in the store. This is especially true if you’re already juggling multiple bags and need to be watching children as well. But it’s easy to lose track of your spending when you use electronic payments. Sticking to cash will force you to adhere to your budget, as you’ll know exactly when you’ve reached your spending limit.

Don’t Buy for Adults

Talk to some of the other adults who you’ll be spending time with over the holidays. It’s likely that they’ll be perfectly okay with skipping the whole gift-giving process. This will save everyone a lot of money and time. If they’re anything like you, they’ll also want to avoid the financial hangover that comes after the holidays.

Negotiate Your Debt

People who have substantial issues with debt might want to consider working with an outside organization. Debt negotiation is one of the best ways to get your finances back on track after spending too much. Freedom Debt Relief is one of the top players in the debt relief. Think of it like a detox for your finances. Check out some Freedom Debt Relief reviews on Consumer Affairs to see how they’ve helped other people get their debt under control.

Find Alternatives to Gift Giving

While it’s nice to get a well-intentioned gift from the ones you love, it’s usually more rewarding to spend your time in less material ways. Consider how your friends and family might be able to do things other than spending money on each other. This might mean baking cookies together, going out to see holiday lights, or creating a new tradition altogether.

Don’t Dine Out While Shopping

It’s much more expensive to dine out than it is to prepare your meals at home. This is especially true at the mall—where food prices are inflated even more than usual. You’ll be tempted to buy coffee or food while you’re out shopping. But resisting this urge will make you feel a lot better after the holidays.

Deals Aren’t Always Good

Many people see the word “deal” and immediately feel compelled to buy something. This is exactly what retailers want from you. They’re creating deals because they know it’ll get consumers to spend more money. Sometimes deals can work in your favor; but don’t let them get the best of you. You should never buy something simply because it’s on sale. Only make purchases that you would go through with regardless of whether it’s currently marked down.

Sell Things You Don’t Need

Many folks associate the holidays with acquiring more things. But you might actually be better off getting rid of them. Selling items you don’t use or need any more is the perfect way to lessen your holiday financial hangover. Not only will this put you in a better place with money, you’ll have more room for things that you actually want in your life.

A lot of people get financially overwhelmed by the holidays. People tend to spend too much money—especially on gifts for loved ones. Use some of these ideas to get rid of your financial holiday hangover forever.

12 Useful Tips for Buying Various Kinds of Insurance

Getting insurance is only a hassle if you come in unprepared. Take a lot of the guesswork out of getting insurance by memorizing these twelve tips. They’ll come in handy when you need that extra bit of buying power to separate the good providers from the bad.

12. Don’t Wait Until The Last Minute

Getting insurance at the last minute is sure to force some bad decisions. This is often the case when dealing with multiple carriers in a single day without a reference. If you manage to make a lifelong decision in less than a day, then chances are it is too fast. Plan ahead before you decide on insurance so that kneejerk decisions don’t take the place of common sense.

11. Price Isn’t Everything

There is nothing wrong with wanting to save a couple of bucks. But when those couple of bucks is the difference between good and great, it can cost you thousands. Don’t take for granted the usefulness of having great insurance over good. The long-term effects will surely become an issue when you actually need the insurance. Instead of ‘nationwide’ being on your side, you’ll only have the support of a small town.

10. Needs Are Better Than Wants

Sure, having all of the bells and whistles on an insurance policy feels good. But what sacrifices did you have to make to get it? If you had to give up a good deductible to make room for towing, then your priorities are in the wrong order. Take a close look at the services you need from an insurance contract. After you fill those, then go for wants.

9. Discounts Are Everywhere

Every insurance company has discounts of some kind. The trick is that they won’t always tell you upfront. You have to be willing and able to research or ask for these discounts. Common among all industries is a discount for being a student, using autopay or being a new customer. They are obligated to tell you when asked, so just think of it as the representative doing their jobs.

8. Sometimes It Helps To Have Backups

One insurance company doesn’t have to cover everything. For instance, using the homeowner’s insurance to cover every expensive item in your home is generally a bad idea. The smarter thing to do is to get homeowners insurance as the priority policy, then use an additional backup to cover smaller items. That way, you are 100% covered by two policies instead of somewhat covered by one.

7. First Timers Should Talk To An Independent Agent

This is more of a life advice tip for first-timers. The options can be intimidating, so take the time to talk to an independent agent to get the gist of what you need. This isn’t about getting insurance from the agent, but gauging what you will be getting yourself into. They are a valuable source of information for first-time insurance buyers, so why not pick their brain?

6. Save Time With An Engine

It is beneficial to have all of your resources on one page so that you can go down a list. Read more about insurance search engines and learn of their benefits. This is a huge time saver that is often ignored when looking for insurance companies. The myth around engines is that they show favouritism towards one company. This just isn’t the case, as modern advancements have made them much more efficient.

5. Did You Even Buy Your ____ Yet?

You don’t have to buy a house, car or any other compatible item before looking at insurance. In fact, it is possible to get a quote with information you provided and have it stand once you get the item in question. If all of the information lines up, you’ll have the exact quote or a close estimate of expected policy numbers.

4. Reputation Is Everything

Why would you entrust your insurance policy to a company that has bad reviews and ratings? This is a pretty accurate tip to follow for anything in life. When you are putting down your hard-earned cash to protect something, would you entrust that to a person with a bad reputation? Use that same logic when looking for an insurance company.

3. Don’t be Afraid To Walk Away

Telling an agent you need time to ‘think about it’ is a normal response when you’re making a big decision. Make sure they lock in whatever current quote was offered, and just get back to them at a later date. This is how you shop around for the correct insurance without jumping at the first company to provide an offer.  They should court you, not the other way around.

2. You Can Always Upgrade Later

There is no need to get everything in one go. You can always upgrade later for the same cost. Find the most essential services of policy and just add to it as you see fit. There is nothing you will miss out on by not getting it at a later date. This is a good tip for buyers that are cash-starved but need a great policy immediately. Get the most vital stuff now, and then add the final trimmings down the line.

1. Be Honest

Lying will only make things more difficult for you when getting insurance. Even a slight omission could raise the cost of your policy at an unfortunate time, or give the company the wiggle room to deny protecting you when something goes wrong. Always be honest and truthful, and if you don’t know the answer to a question find out. If any part of your policy is violated, companies have the full right to refuse you as a customer.

Wrap Up

That should sum it up for anyone that wants to get their hands-on grade A insurance. Having a cool commercial helps, but don’t use that as your priority for choosing. And if you’re lucky, insurance will never have to be used in your lifetime.

Binary Options and Forex Education

If you plan to trade binary options or Forex, or perhaps both, you’ll need to commit some time to learning how to trade successfully. Knowledge is indeed power, and the more you know about how to analyze the market, the more you will earn from your trading endeavors. There are several options to choose from when you’re ready to learn, and here we’ll provide you with the details needed to make the selection that works best for you.

Free or Paid Training

At a base level, there are two types of training available – free or paid. The internet is loaded with free information and resources for Forex and Binary Options Education. However, there can be some value in paying for a structured training course that takes you from beginner, to intermediate, to advance level. Obviously, everyone has their own budget restrictions and their own idea of how much (if any) money they are willing to spend. If you do not have any money to put towards training, there is nothing to worry about. The free resources online can still get you to where you want to go.

Many brokers now offer free education resources. Why? Simply because they hope that you will become their client. Affiliates may offer free trading education as well, for basically the same reason. In neither case is there anything sinister going on. In both instances traders are being offered something of value in exchange for the possibility of some gain. Don’t hesitate to take advantage of free Forex education or free binary options training if they are offered to you and appear to be a reliable source of information.

Moving Past the Basics

After you feel that you’ve securely mastered the basics of pricing binary options, it’s time to move on to learning about analysis. Both binary options and FX trading require that you to undertake both technical and fundamental analysis. Fundamental analysis involves analyzing market conditions based on factors such as investor sentiment. The “mood” of the market is impacted by things such as data releases (employment numbers, GDP, inflation, etc.), so you will want to be alert to the dates and times of the release of important financial numbers such as these.

Technical analysis is considered to be more complex, and for good reason, as it involves asset values and the study of price movement. Although MT4 is known for being for Forex traders, those who trade binaries will also want to download MetaTrader for the purpose of completing technical analysis. There are plenty of online articles and classes to help you master the use of MT4 and technical analysis and for those who prefer to see each step, there are lots of online videos that will walk you through the various processes step-by-step.

What about Trading Strategies?

Another important piece of the puzzle is binary options and Forex trading strategies. Strategies range from very basic to quite complex. They can also involve one or both of the aforementioned types of analysis. Traders must be careful when selecting strategies and no-risk testing should be considered a must. If you plan to learn strategies from one of the “gurus” that are well-known among traders, understand that you might be asked to pay for access to their methods.

A simple trick that might save you some money is to simply search online for the method title to see if it is being offered for free. However you choose to learn strategies, be sure to test each using either a demo account or very low investment amounts in order to reduce risk. Most binary and FX brokers offer free demo accounts. If you prefer to test in a live platform, consider using the smallest allowed investment amount for binaries, and micro lots for Forex.

Getting Started

It is possible to start trading well before you reach the advanced level, but do have a money management plan in place that goes along with your current level. When you’re new to FX or binary options, you’ll want to keep your investment amounts on the lower side. As you learn more and feel more comfortable, you can then make changes to your plans and start to increase your amounts. The bottom line is that options and Forex education resources are everywhere, so grab your notebook and pen and get started. There’s never been a better time to trade for profit!