A credit card can be a great way to save money as a family. While you might assume that a family should stay away from credit cards, as they can definitely lead to debt if you’re not careful, there are also many ways to use a credit card effectively for better savings. You just need to know how to make the best of them. When you’re thinking about signing up for a credit card, here are four things that you need to do to make sure you’re choosing the right one.

1. Consider the Yearly Fee

One of the first things you’ll likely think about when you’re choosing a credit card is the yearly fee. Remember, while no-fee credit cards are definitely a good option, they may not be the best for your family. Some families may benefit from a credit card with a moderate yearly fee, as the benefits you receive from these cards may actually give you more bang for your buck.

2. Make Sure You Can Get the Sign-On Bonus

If a card you’re interested in has a sign-on bonus, you need to be sure that you can qualify for that bonus. The BoA Premium Rewards card, for example, has a pretty significant bonus, with 50,000 bonus points, equivalent to a $500 value, that you can redeem for a number of rewards. To qualify, you need to make at least $3,000 in purchases within the first three months. Make sure you can hit that number to get the most out of your card.

3. Utilize All Statement Credits When Available

Statement credits can effectively nullify your annual fee. Some credit cards offer statement credits to help you cover certain purchases, and those credits can be as much as your card’s yearly fee. If your credit card has any statement credits available, make sure you use all of them. It’s the best way to make sure you’re getting the most out of your yearly fee.

4. Maximize Your Rewards Earnings

It’s important that you do whatever is necessary to maximize the number of rewards points you’re earning with your card. Check to see what categories provide the most rewards for the specific credit card you’re interested in signing up for. If you strategically use different credit cards for different purchases, you may be able to get more rewards points than if you were to just use the same credit card on all your purchases.

Conclusion

Families often end up needing a variety of credit card benefits, which is why a credit card can be such a useful tool for a family. However, if you’re interested in getting a credit card, you need to make sure that you’re getting the right card for your family’s specific needs. These four things are all important things to make sure you’ve thought about before you sign up for a credit card. With the information from these things, you’ll be able to get more with every credit card purchase.

Come year end, and taxpayers get all worked up to invest in the right tax-saving investment for their portfolio. Why, you may wonder. Well, all tax-saving investments offer a tax deduction of up to Rs 1.5 lac per annum under Section 80C of the Income Tax Act, 1961. An investor can save up to Rs 46,800 each year by investing in tax-saving investments under Section 80C, provided that they belong to the highest tax slab. However, this habit of procrastinating things often comes at a cost. The cost is that in a hurry to choose a tax-saving investment for that particular year, investors often make an ill-informed decision and end up investing in investment options that might not be suitable for their investment portfolio. In this article, we will understand different tax saving investments that you can consider adding to your investment portfolio.

Equity Linked Savings Scheme (ELSS)

As mandated by the Securities and Exchange Board of India, ELSS funds are a type of equity funds that invest at least 80% of their assets in equity-linked investments. Note that investments in ELSS mutual funds are associated with a mandatory lock0in period of 3 years. This also happens to be one of the lowest lock-in tenures when compared to other tax-saving investments. As ELSS mutual funds invest majorly in equities, these mutual funds have a huge potential to generate significant returns over long run. Thus, ELSS tax saver mutual funds offer investors with dual benefits of capital appreciation and tax saving benefits.

Unit Linked Insurance Plan (ULIP)

As the name suggests, ULIPs offer the combined benefits of a life insurance policy and an investment option in a single fund. Basically, when you invest in ULIPs, a smart part is invested towards securing your life and remaining is allotted towards different types of investment basis your financial goals, risk profile, and investment horizon. Investors investing in ULIPs have the flexibility to switch between different types of funds around three to four times in a particular year.

Senior Citizen Savings Scheme (SCSS)

SCSS is a type of savings scheme which is backed by the government of India. Any Indian citizen can invest in SCSS provided that the investor is at least 60 years of age. The interest rates earned on these savings scheme is declared by the Indian government before the investor purchases these schemes. As compared to other savings schemes in India, SCSS offer comparatively higher interest rates to investors. The maturity tenure of senior citizen savings scheme is 5 years. However, you can choose to extend it further by three years.

These were some of the tax-saving investments that you can choose to add to your investment portfolio. Even though tax-saving investments are a great way to reduce one’s taxable income, one should not invest in these investment options with the sole purpose of saving tax. The tax-saving investments that you choose to invest in must align with your financial goals, risk profile, and investment horizon. Happy investing!

 

 

Trend trading strategy has always been the best way to avoid losing orders in the stock market. Every professional trader is taking their trades in the stock market in favor of the existing trend. On the other hand, new participants in the stock market are taking their trades in an aggressive manner and trying to earn a big amount of profit without respecting the market trend. Thus, they keep on losing money most of the time.

To become good at the stock trading business, you need to consider the overall direction of the trend. In this content, we will share some professional techniques by which you can ride a major trend without having any major obstacles. So, read this article very carefully.

Evaluating the daily time frame

You need to start evaluating the higher time frame to find the overall direction of the trend. If you keep on relying on the lower time frame, chances are high you will never learn to find the good trade signals in the market. The professional traders usually determine the trend in the daily time frame as it gives a much more accurate reading.

Since the daily time frame is a bit boring some traders often rely on the hourly time frame. But if you chose to trade in the hourly time frame, you should be extremely cautious about your trade execution process. In fact, the risk factor should be less than 1% of your account balance.

Learning the candlestick patterns

Japanese candlestick is very popular in the investment business. Most of the experienced traders rely on Japanese candlestick patterns to find the best trade setups in the market. Navigate to this website and learn about the importance of Japanese candlestick patterns in trend trading methods. Once you know about the basics of the price action trading strategy, you can use this technique to trade the major trend.

Instead of setting up pending orders at the trend line support or resistance level, you should be looking for reliable price action confirmation signals. As you learn to use this technique, you will become much more confident with your actions, and thus making regular profit is not going to be a tough task.

Focus on the prime indicators

You might be thinking about what the prime indicators in the stock market are. Since you are discussing the trend trading method, the prime indicators are going to be the moving average. With the help of the moving average, you can easily determine whether you have assessed the trend line in an effective way or not. For instance, you may use the 200 period SMA to determine the overall direction of the trend in the daily time frame.

If the price trades above the 200 SMA, you should be looking for the long trade setup only. On the contrary, if the price trades below it, look for the short trade setup. You may also use the oscillators to find the strength of the trend and it will definitely help you to ride the key trend.

Use the trailing stop loss

The use of trailing stop loss is a must when it comes to riding the trend in the stock market. By using the simple trailing stop loss you should be able to ride the major trend with a high level of accuracy. Some novice traders often think that using the trailing stop loss is not a good idea to ride the major trend. But this is not all true. If you do some digging on the internet, you will realize that using the trailing stop loss features is by far the most effective way to ride the trend.

While using it, make sure you rely on the minor support and resistance level. If you place the stops in a random way, you will keep on losing money most of the time and thus you will never learn the proper way to execute the trades in favor of the key trend.

If you are a novice who is interested in learning about stock trading, there are many educational platforms that can help you get started. Before you dabble in doing stock transactions, start off with choosing a brokerage account. Many brokerage platforms help you in the process of starting to trade, though there are certain aspects that you should know first.

Different Ways to Invest in Stocks

There are several approaches that you can take towards investing in the stock market. You can choose the kind of funds that you wish to put your money in. You might decide, for example, to opt for a robo advisory service. That is often the best choice for beginners. Such expert-guided investment comes at a low cost and can also provide choices with minimum risk. The other option is to invest in the retirement benefits or schemes that your employer provides. To learn and get started, the use of stock market trading apps is also a good idea.

Guide to stock trading

Source: stocktradingschool.com

Steps to Get Started

Basic steps involve picking the right brokerage to trade through, placing trades and understanding how it impacts your budget and taxes.

• Choose an Online Brokerage

Find a reputed and reliable stock brokerage online, preferably one that has educational demo modes to offer. Hence, you can see demos of how trade actions are executed on such a platform. You also need to compare trading commissions charged by the different sites. Once you feel confident, you can sign up for a membership account. Many offer a seamless trading experience, through desktop as well as through mobile apps.

• Research Stocks

Once you have signed up on an online brokerage, you can choose the kind of stocks you wish to trade. For those who are new to this, it is safer to start with exchange-traded funds or ETFs. These are stock bundles that investors buy. It helps those who are not confident enough to choose a single company. It also helps give your portfolio a larger exposure. Traders can also diversify holdings with different kinds of assets such as bonds. That way, you can hedge against risks, especially when stock markets have a downturn. You also need to check financial analysis ratios which compare the performance of a company against that of competitors.

• Know the Costs

Success in stock trading comes from optimal spending. First, you need to know the cost of owning or trading in securities. There are also commission fees involved. Once you have an estimate of such expenses, compare the same against the average returns that your choice of funds potentially provides. Also, plan your budget so you spend only what you can afford to lose.

Stock trading comes from optimal spending

Source: nbcnews.com

• Effects on Taxes

Know that profits you make will attract capital gains taxes. If you hold stocks for less than a single year, you pay more in terms of such taxes. Hence, such taxes are designed to encourage long term investments.

Conclusion

There is much to know and learn about stock trading. However, the expert brokerages make it easy and can assist beginners through the entire process. It is important, though, to be mindful of the expenses and taxes applicable.

 

Real estate investment is one of the best investment portfolios anyone can have in today’s world. The potentials are just interesting and worth going all in for. But then, what stops most people from committing enough investment into real estate is the lack of funds.

Usually, this problem is solved by borrowing from traditional lenders. But, recently, the experience of many have shown that the process is always onerous and not yielding the desired result.

This is why a better alternative should be sought and used to level up your real estate investment portfolio. One of the best alternatives you can have in 2021 is Hard Money Bankers.

Hard Money Bankers is known for offering short-term financing solutions for real estate investors who are finding it difficult to source funding for their real estate investing projects through traditional lenders. They provide financing from single residential investment properties through large commercial projects and burgeoning real estate portfolios.

This is why in this post; you will see how to level up your real estate investing portfolio with Hard Money Bankers.

Why Should You Use Hard Money Bankers to Level Up Your Real Estate Investing Portfolio?

There are many reasons to consider Hard Money Bankers in 2021. Some of those reasons are:

• Hard Money Bankers Are Quick: What you often spend the whole time getting with your traditional lenders can be gotten in no time when you deal with us. With Hard money Bankers, you eradicate the problem of having to wait endlessly for your real estate investment loan.
• Flexible Loan Review: Unlike the onerous process for loan review with traditional lenders, Hard Money Bankers offers you flexible process. The loan review is without any arduous criterion.
• If you don’t qualify for conventional loan, you have a chance with Hard Money Bankers: Without a doubt, it is always difficult for new investors in real estate to get loan from traditional bank. This has always been a huge problem for new investors who desire to grow their real estate business.

  But this doesn’t have to be the issue anymore. With HMB, you can qualify for loan and level up your real estate investment portfolio.

  You can contact them on their website at to see if you qualify for a hard money loan.

What Do Hard Money Bankers Look For?

When you approach HMB for loans to level up your real estate investment, some things are considered.

Often, HMB needs to evaluate you as a borrower. Just like your traditional bank would do, we need to know your capability.

In this light, whether or not you have a good deal would be considered. Also, your property would be considered and your capability of doing the deal. This is why you should build trust with us just the same way you would with your traditional borrower.

Important Reminder

In all, as you decide to approach any Hard Money lenders, ensure you vet the one you are dealing with. This is to avoid falling victim to some unscrupulous agents in the industry.

One of the best ways to know genuine Hard Money Lenders is to check them up at your local Real Estate Investor’s Association.

Read Next:
Hard Money Bankers Shares: How Real Estate Investors Have Adapted During Unprecedented Times?
6 Trends That Will Shape The Financial Services Industry In 2021

 

Do you want to invest a part of your salary in financial instruments? However, before that, have you considered investing in term insurance plans? If no, then you should seriously give it a thought.

A term insurance plan lays the foundation of any successful investment portfolio. Many young professionals refrain from investing in life insurance, as they have little or no responsibility on their shoulders. If you are one of them, then you are making a big mistake. There are numerous advantages of investing in term plans from an early phase of life. These include:

• Straightforward insurance policy

Term plans are easy-to-understand. They are a simple type of life insurance plan, as they purely provide life protection for a specific duration at an affordable premium. As there is no investment component involved in a term plan, it becomes easier for you to understand its terms and conditions. A term insurance plan secures your family’s financial future against the uncertainties of life. In the case of an untoward incident during the policy tenure, the insurer is liable to pay the death benefit (sum assured) to your family members. Here, there are no maturity benefits unless you have purchased term insurance with a return of premium (TROP). Another plus point of a term plan is that one can buy it at the young age of 18, and the maximum age limit is 65.

• Economical premium

A term plan comes at a pocket-friendly cost. When compared to any other type of insurance policy, the term insurance premium is the lowest. Besides this, when you invest in a term plan at a younger age, you get it at a nominal rate viz-a-viz an older policyholder. It is because during this phase of life you are healthy, and the risk of mortality is significantly low. Also, there is a lower probability of having life-threatening diseases like diabetes, high blood pressure, and cardiovascular diseases. Additionally, the term plan’s premium remains the same throughout the period of the policy. So, if you start at an early age, you can save a large sum on the premium in the long run.

• Tax exemptions

The term insurance tax benefit is another reason why you should invest in it. Here, you can get a deduction of up to INR 1.5 lakh per annum for the premium you pay towards your term plan under Section 80C of the Income Tax Act, 1961. So, you must invest in a policy when you are young to avail of this term insurance tax benefit for a longer duration. Moreover, the sum assured that your family members receive in case of an unfortunate event is tax-free as per Section 10(10D) of the Act.

• Availability of riders

Term plans offer various riders like critical illness cover, accidental death benefit, income rider, the waiver of premium, and permanent disability, among others to widen the scope of your coverage. Though you have to pay supplementary charges for these riders, they are worth every penny. Therefore, it becomes crucial to opt for riders that can meet your needs.

Today, it is quite convenient to buy a term plan. You can purchase it online from the comfort of your home. By opting for this mode, you end up paying a much cheaper premium compared to buying a policy through an agent. This is because the insurer eliminates the agent’s commission and passes on this benefit to you in the form of a discounted premium. If you are looking for an ideal term plan, you can take the assistance of an online term insurance calculator. It enables you to compare the premiums of various plans based on the factors like your age, tenure, and the sum assured.

Now that you have understood the importance of having a term plan, invest in it without any further delay. By making this decision, you will ensure that your family has a large sum assured when you are not there to take care of them.