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学习英语 / "8 Tips for Keeping More of Your Hard Earned Money"

« on: December 22, 2023, 11:06:53 PM »

8 Tips for Keeping More of Your Hard Earned Money

"8 Tips for Keeping More of Your Hard Earned Money

Masters degree not required...just a little common sense, a $5.00 calculator and a realistic plan is all you'll need.

"There's got to be a better way" resonates with many of us, when contemplating how frustrated we've become with our investment decisions. Too many Canadians are spending far too much on credit card debt, accept inflated mortgage rates from financial institutions they've been loyal to for years, and just don't seem to have a realistic financial strategy in place.

With the myriad of savings, mortgage and investment options available today, rethinking your financial plan to make more efficient use of your money can be a daunting task. As a result sometimes the fear of making a costly mistake can lead to inaction, but inaction or procrastination will almost always cost you money in the end. So what is the correct course of action? The following column contains 8 valuable tips, which will provide a framework to help you earn more and save more of your hard earned money.

1. Pay yourself First -- rule numero uno. From each pay cheque set aside 15 to 20 percent of you're after tax income through an automatic deposit into a savings account or investment program. After a brief "adjustment period" you won't even miss it. It's important to make sure you have enough money on hand before you can entertain any investment strategy.

2. Pay down your consumer debt before investing -- most investors would be ecstatic with an 18% + after tax return from their investment portfolio. Let me explain how paying off credit card debt actually translates into those kinds of returns. Let's assume your carrying credit card balances of $3000.00 @ a simple annual interest rate of 18%. That's $540.00 per year in interest charges.pay out the credit card debt and you're saving $540.00 a year. Can you see how that's exactly the same as investing the $3000.00 into something that earns an 18% return after tax. In fact you would have to earn 36% return on your investments to emerge with the same $540.00 in your pocket if you were in say a 50% tax bracket. I suspect what you're saying right about now is that that's all very interesting but where does one find the "extra money" to pay down those debts. Thank you for that excellent segway into my next tip, no# three.

The Straight Goods on Mortgages

3. Refinancing -- the truth is even though it's likely your home may have greatly appreciated in value, it's also very likely that you may be paying more than necessary on your mortgage. Refinancing commonly referred to as Debt Consolidation leverages the equity you may have already accumulated in your home to pay down high interest credit cards, credit lines and other debts. In 2002 and 2003, one in two Canadian mortgage holders refinanced their loans with over all savings of $7 billion in interest payments. A good rule of thumb to follow is -- consider refinancing if your rate is 1.5% or more, higher than current rates. Always check your mortgage documents or with your mortgage holder to determine the penalty for discharging your existing mortgage.

It's always a good strategy to exercise your full pre-payment privileges before refinancing which will dramatically decrease any penalties involved. If your mortgage was previously insured by CMHC it may also be possible to refinance to a high ratio mortgage (anything less than 25% down) and pay the CMHC insurance "top up" fee only on the new money advanced after discharge.

To determine if refinancing is a realistic option for you calculate your total monthly debt payments; including personal loans, your existing mortgage payment, lines of credit, credit cards etc. and divide that number by your gross total monthly income. If your total is above 0.49 it's likely refinancing could bring real value to your situation.

4. Ladder or Step -- imagine registering a collateral charge against your property in consideration of its future value. Basically a "step" mortgage enables you to accomplish just that. With a step or ladder you can structure a mortgage combined with a credit line as well as overdraft protection etc. that will allow you to painlessly borrow money against the future value of your property as it appreciates.

Benefits of this plan include a hedge against risk, a lower rate if your current rate is higher than prime, as well as flexible payment terms -- from making interest only payments to making any sizable payment or completely paying down the debt against the credit line without incurring expensive penalties. Best of all with a step mortgage you have the unique ability to painlessly increase your line in the future for educational purposes, renovations etc. based on the appreciated value of your home. It's best to trust an Accredited Mortgage Professional to structure this complex but infinitely more flexible mortgage plan.

5. Floating or Variable Rate Mortgage -- York University Professor Moshe Arye Milevsky found in his study examining the last 50 years of mortgage rates that 88 percent of the time, home owners will find that the interest rate on their variable rate mortgage will be lower than the rate on a traditional five-year fixed rate mortgage. My advice is to definitely consider a variable rate but you must be able to tolerate the risk of your monthly payments possibly fluctuating. One way to offset this risk is to calculate payments based on a five year fixed rate against a mortgage calculated at a variable rate. You will likely not only save on interest charges but may pay off your mortgage considerably quicker.

Having the ability to lock into a "fully discounted" fixed term rate at some future date, without penalty is also an option worth exploring. Bi weekly-accelerated payments are highly recommended as well. It's basically nothing more than taking 1/2 of your monthly payment and remitting it to your financial institution every two weeks. It translates into making roughly one additional monthly payment every year but it really serves to substantially reduce your interest charges and amortization, which will allow you to own your home outright, sooner. Childs Education

6. Start early -- Considering a price tag of about $50,000 for four years of post secondary education for a child born today based on current tuitions of $5,000 and education inflation of 5%, a Registered Education Savings Plan is simply a must. The earnings aren't taxable as they grow within the plan and the Canada Education Savings Grant is an added bonus. The CESG basically provides a guaranteed 20 percent return -- where can you beat that? - You'll receive $400.00 from the government on the first $2,000 of contributions per child per year.

Registered Retirement Savings Plan

7. Save as much as possible -- take full advantage of compounding while your account grows tax-deferred. Borrow if you must because in most cases deferring taxes and earning compound interest far outweigh the interest costs of borrowing to make an RRSP contribution. It's also a prudent idea to apply your tax refund directly to the loan immediately reducing the payments. A "step" mortgage can also go a long way towards making this process more painless.

New home buyers -- The Home Buyers' Plan (HBP) allows you to withdraw up to $20,000 from RRSPs to buy or build a qualifying home for yourself (as a first-time home buyer) or for someone who is related to you and is disabled.

(http://www.cra-arc.gc.ca/tax/individuals/topics/rrsp/glossary-e.html#qualifying)You may still be considered a first-time homebuyer if you own a rental property or if you have not recently owned a home.

8. Spousal RRSP -- is recommended. Split income in retirement and reduce your overall tax burden by contributing to a spousal RRSP now. You will significantly reduce your taxes by having the higher income earner make as much of the RRSP contributions as his or her room will allow, then use a spousal account so that each spouse continues to build the same RRSP savings.

The message here is that a sound knowledge of financial basics combined with some careful financial planning goes a long way towards helping you hang on to more of your hard earned money. It's always wise to consult with a mortgage professional as well as a competent financial planner to formulate a financial plan, review your budget and help match your savings and investments to your overall goals.

 Dan Loney"

Do you agree with the author?

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A forum for incels who are normal people (no terrorists, no rapists, no racists, no pedophiles, no haters and so on) / The hard thing about changing Incels’ minds is that they’ve frequently made...

« on: May 24, 2023, 06:53:53 PM »

"The hard thing about changing Incels’ minds is that they’ve frequently made being an Incel a core part of their identity"

""The hard thing about changing Incels’ minds is that they’ve frequently made being an Incel a core part of their identity" (Harris O'Malley, better known as Dr. Nerdlove) https://www.salon.com/2018/11/18/a-traumatic-vision-of-masculinity-lies-at-the-root-of-a-resentful-incel-movement/

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学习英语 / Simple articles with translations (带翻译的简单文章)

« on: April 28, 2023, 06:42:32 AM »

Simple articles with translations (带翻译的简单文章)

Dictator

独裁者;独裁官

A dictator is a ruler who holds absolute power and authority over a nation or group of people, often achieved through force or manipulation. Dictators typically maintain control through the use of an authoritarian regime, including censorship, propaganda, and violent suppression of dissent. In many cases, dictatorship results in widespread human rights violations and the suppression of individual freedoms. Historically, notable dictators include Adolf Hitler, Joseph Stalin, and Saddam Hussein. The concept of dictatorship is widely considered to be incompatible with democracy and the principles of free and fair governance.

独裁者是指对一个国家或一群人拥有绝对权力和权威的统治者，通常是通过武力或操纵实现的。独裁者通常通过使用独裁政权来维持控制，包括审查、宣传和暴力镇压异见人士。在许多情况下，独裁导致普遍侵犯人权和压制个人自由。历史上，著名的独裁者包括阿道夫·希特勒、约瑟夫·斯大林和萨达姆·侯赛因。人们普遍认为独裁的概念与民主以及自由和公正的治理原则不相容。

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学习英语 / 幽默英文 (Humorous English)

« on: February 19, 2023, 03:45:11 AM »

Humorous English

幽默英文 (Westerners')

About dentists （牙医生）
Westerner 1: I have a pair of pliers. You might need a few drinks first though. I'll charge for the beer but not the pull.
Westerner 2: A beer and a pull... That sounds like a good service 
Westerner 1: Only on Fridays
Westerner 3:  ... I can knock out your molar and then buy you a beer haha ... O damn!  I ... didn’t look at your profile- thought you were a man
I just want to go on record and clarify that I have never and will never hit a woman… not even for medical purposes
Well- maybe my ex-wife, before I die, after my daughter is grown, with a family of her own… I’ll sit her down and explain to her why I will rise from my death bed and use my last dying strength to give her “dental work”
But that’s kind of a bucket list thing, I suppose

(- pliers: 钳子
- "Bucket list": a number of experiences or achievements that a person hopes to have or accomplish during their lifetime. 人生愿望清单.)

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A forum for incels who are normal people (no terrorists, no rapists, no racists, no pedophiles, no haters and so on) / Self-defense for incels (males and females)

« on: January 28, 2023, 06:01:26 PM »

Self-defense for incels

I mean it, incels, femcels... self-defense for all of you.

Now, when my English is already getting better and sometimes even rocks  (just kidding), I am here to help you guys with your self-defense.

It's obvious that many of the incels are not big and/or strong. If they were big (and especially big and strong), they'll probably not be incels because for some women being big (tall) and strong (bodybuilding type) is enough to start up a relationship. Right? Well, maybe some gymcels are big and strong already but it will be useful for them too; I suppose so.

I'll try to systematize some self-defense points in this thread (below).

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学习英语 / Insomnia and Menopause

« on: February 16, 2021, 05:25:26 AM »

Insomnia and Menopause

"Insomnia and Menopause

Insomnia is a common disorder during menopause. Insomnia means the inability to sleep at night. Women in menopause often awaken in the early morning of the day and they find much difficulty in getting back to sleep. Women in menopause and pre-menopause periods have the greater possibility of experiencing the symptoms of chronic insomnia such as night sweats, hot flashes, anxiety, fatigue, headaches and depression.

Menopause insomnia can manifest itself in a number of ways such as difficulty in sleeping, waking up frequently throughout the night etc. Insomnia makes a person feeling tired and drained.

For women who were all undergoing menopause, insomnia is also recognized by another common symptom known as night sweats. The other side of menopause, insomnia includes difficulty in falling asleep and awakening two to four times. What makes that even worse is that the woman lying awake for half an hour each time, trying desperately to return to sleep. Several times, the reason for sleeplessness is due to the inability of the body to maintain a constant temperature, which is cased by the changes and fluctuations in the levels of estrogen and progesterone.

Losing sleep during the critical years of a middle-aged woman can be frustrating. Menopause insomnia is inevitable, which slows down the woman’s reproductive capacity. Menopause insomnia is caused by many factors, but it can be treated or keep in control with the help of proper medication, diet, and sleep habits.

Hormonal changes can also cause sleep disturbances, and may result in menopause insomnia. To avoid the discomfort of not being able to sleep at night, the doctors may suggest hormone replacement therapy to balance the declining levels of estrogen in the body. Lower estrogen can result in reduced levels of serotonin, the hormone that controls the sleep.

Menopause insomnia can be controlled by taking some measures such as exercising for about half an hour in the early morning, and it is not advised to do it before bedtime. Stimulants such as tea, chocolate, coffee, cigarettes, sweets etc should be minimized or at least it should be avoided it three or four hours before bedtime, because stimulants can keep you awake. Avoid taking alcoholic beverages before going to bed.

A glass of wine may also help to sleep well. The treatment of menopause insomnia includes hormone replacement therapy. Sleep time habits that are useful such as keeping the room temperature always cool, hot baths, relaxation techniques such as yoga and meditation, soft music, using the bed only for sleeping etc should be practiced. Mild aerobic exercise in the early evening and the consumption of foods which are rich in tryptophan, such as milk, bananas, figs, dates and tuna aid are good measures to control menopause insomnia. When the level of hormones reaches a certain balanced level the problem will sort itself."

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学习英语 / Only positive

« on: August 25, 2020, 02:35:53 AM »

Make your life more positive

This topic is meant to turn your thinking in the right direction. Here you will find only positive stuff, no evil ideas, no bad things, no poison thoughts, nothing to make you sad, unless it’s good for you.

What can you find here? – only positive things, funny, bright ideas to bring you the warm feeling of happiness, to give you peace of mind, to fuel you up, to take a new view on the day by day thing that we manage not to see, precious little things to put a smile on your face and your heart.

Everything that is good should be listed here, you have to do that too, remember that something which gave the warm feeling of enjoying living life, share it with us, multiply it, grow it.

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学习英语 / Cheap English translation and interpretation services

« on: May 28, 2020, 04:44:29 PM »

We offer worldwide translation services and interpretation services in the most major Chinese cities and some of the Chinese towns. We are capable of taking on nearly any type of translation job, and below we list some of the specialized types of services that we can provide. For information on pricing, please ask here and we'll negotiate it according to your needs.

Interpretation
We provide interpretation services for meetings, media events, and even for tour groups.  Please contact us here for more information regarding interpretation and simultaneous interpretation services.

The Arts, Fashion and Entertainment
Whether it be the latest fashion magazine or literature for an exhibition of classical Chinese art, our team members can complete translations of documents in the fields of the arts, fashion and entertainment with the highest level of accuracy and precise.

Professional Communications
Translation of professional communications and correspondence can be extremely difficult, especially given cultural differences.  We can solve all of these problems. 

Translation of Commercial and Marketing Materials
Marketing a product abroad?  Translation of such marketing materials requires a high level of creativity and sensitively to culture -- two of our strong points.

Academic Translation
Experience translating scholarly papers, dissertations, and research results, particularly in the humanities and social sciences.
Such documents require a high level of precision that most translation companies are just not able to provide.

Legal Documents
We can try it too.

Comics
One of our favorite.

Our Experience

Our team consists of both Chinese and European nationals with backgrounds in social sciences and engineering.  As such, we are capable of providing precise and idiomatically correct translations that capture both meaning and context. Unlike translations performed by many other companies, native speakers of Chinese work on all projects.
We've got a lot of experience translating different kind of things.

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学习英语 / Ibane's

« on: April 12, 2019, 06:38:02 PM »

Ibane's

"

First Post

First, my nickname Ibane, I don’t know what it means, I have not done the cross-checking with all possible languages so I guess it has very singular meanings but I don’t really care. I just saw it and I liked it. The election was based on pure aesthetic, so there is no deep meaning or anything like that.

Lately I am getting deeper and deeper into the open source. My drivers are:

1.- Personal: I have very good relationships with people involved there and they have been the ones to drag me in this new world.

2.- Technical superiority to proprietary software, in most of the cases.

3.- The feeling of freedom that you can breathe there.

I think that Open Source, in general, is  a slap in the face to the current tendency to provide bad quality products to the consumer just because the driver is to get out something quick with the maximum profit without paying attention to quality.

I will go deeper as soon as I am getting better understanding."

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Other topics / Comics, manga, manhwa, etc.

« on: December 12, 2018, 07:09:38 PM »

"My Stepmom" comics

I don't read often comics, but I'm attracted to the comics "My Stepmom". I can't read it to the end. I can't find this whole comics and I have no money to spend for it. My family members will never let me do so! How can I read it for free? Help!

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Food / Yum yum

« on: November 13, 2018, 05:57:59 PM »

Coxinha - Brazilian Chicken Croquettes

Yum yum! https://en.wikipedia.org/wiki/Coxinha

A recipe for coxinha: These chicken croquettes are a popular street food from Brazil. You don't have to be a Brazilian to enjoy this chicken croquette and cream cheese combination. Traditionally coxinha is made from Catupiry cheese, but you can just replace it with cream cheese.

Ingredients

• 2 chicken breasts
• 1 litre chicken stock
• 1 onion, finely diced
• 1 carrot, finely chopped
• 2 bay leaves
• 1 stick celery
• cream cheese
• 4 cloves garlic, minced
• 300 gram flour
• 1 egg
• 1 cup very finely breadcrumbs
• oil

Method

Place the carrot in a large pot. Add chicken stock until the chicken breast is covered with at least 1/2 inch of liquid. Add the carrot, half of the onion and the bay leaves.
Bring chicken stock to gentle simmer, and poach chicken until cooked or around 15 minutes. Remove chicken breast, set aside and let it cool.
Measure the chicken broth about 350ml. Add the chicken stock to the saucepan and then slowly beat in the flour and cook for about 3-5 minutes until the dough not sticks to the pan. Remove from heat and let it cool.
In a small frying pan, add 1 tablespoon oil and sweat the remaining onion for 3-5 minutes until soft, then add the garlic and the celery for another 2 minutes.
Shredded the chicken breast, mixed with cream cheese, add the onion mixture. Stir to combine and season to taste.
Take a piece of the dough about the size of the golf ball. Roll it into a ball, and then flatten it into a disc. Add about 1 teaspoon chicken filling, bring up the edges all round, and carefully press the dough, so it totally encased, and shaped into a pear shape.
Whisk the eggs together in a bowl. Place the bread crumbs in a shallow pan and season it with salt and pepper. Dip the coxinhas in the egg, then in the breadcrumbs to coat. Chill the breaded coxinhas in the fridge for about 1 hour.
Fry until it gets golden brown.

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Philosophy / Robert Sapolsky about the humans, gibbons and other animals

« on: September 30, 2018, 03:54:27 PM »

Robert Sapolsky about the humans, gibbons and other animals

An intro:
Gregory C. Farrington (https://en.wikipedia.org/wiki/Gregory_C._Farrington): Good evening and welcome to this month's Pritzker lecture! I'm Greg Farrington executive director of the Academy; 'chief penguin' as they say... or as I say. I think that's a; it's as good an identity as any. Tonight it's my pleasure to introduce Robert Sapolsky from Stanford. You've heard of Stanford, I presume. he's the  John A. and Cynthia Fry Gunn professor. And he holds joint appointments in biology and neurology and neurological sciences. He's also research associate at the Institute of primate research operated by the National Museums of Kenya in Nairobi and the recipient of the MacArthur Fellowship. Most significantly he's an Academy fellow; he's one of us. Dr. Sapolsky received his BA in biological anthropology from Harvard and his PhD from Rockefeller University in neuroendocrinology. He's the author of several books including (and I love this title) "Stress, the Aging Brain, and the Mechanisms of Neuron Death" a guide to stress-related diseases in coping. I can't quite decide whether to read it or not. He also regularly contributes a journals such as "Discover", "Science", "Scientific American", "Harper's" and "The New Yorker". I hope you read them all!
Now I, before the final step of the introduction I will say I'm about to walk out. The reason is simple: my wife and I married our son off on the East Coast, we just got back and we're zoned. So we are going or these bundles of neurons are about to collapse and so we are trying to watch this on the Fora TV version later on, even though we regret missing tonight. His topic this evening is "Humans are we just another primate? Are we just a bunch of neurons?" Please join me in welcoming Robert Sapolsky.

Watch it: https://www.youtube.com/watch?v=YWZAL64E0DI&t=2328s

More (about R. Sapolsky): https://en.wikipedia.org/wiki/Robert_Sapolsky

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EARN MONEY / The Miracle of Compound Interest

« on: September 03, 2018, 03:38:50 PM »

The Miracle of Compound Interest

Albert Einstein was once asked what he thought was the most powerful force in the universe. He answered: Compound Interest! Now, I would have thought that Albert Einstein would have considered things other than money. But, when you take another look at it, he may be right. At least, he may have suggested the thing that most of us would like to have.

For the few reading this that have no idea what compound interest is, let me explain briefly. Let’s say you deposit a certain amount in a savings account (bad idea) and you leave it there for a while.

On day one you deposit $100 and the bank is paying you 4% compounded daily. On the second day your balance in the account will be $104. On day two your balance will be $108.16. Day 3 will yield $112.48 and so it goes. Until on day 18 your money have doubled to an account balance of $202.58.

Doubling one’s money in just 18 days and not having done a thing to accomplish that is an amazing feat if you ask me. In fact I might agree with Mr. Einstein to a degree. I am sure that compound interest might be a force that I want working in my life. It has all the possibility of making one’s life that of what we dream.

What If?

So, I was thinking to myself what if there was an internet based business that revolved around this principle of compound interest on the internet? That might be one of the easiest ways to earn money. In fact, the easiest. You put money in and it multiplies for you like a bunch of little bunnies. I don’t know about you, but, I’d go for that!

When I was young I used to hear of compound interest accounts a great deal more than I do today. I suppose bankers have just become more greedy or the wild fluctuation of interest rates over the last 2 or 3 decades have made it more difficult for banks to pay a rate that keeps up with inflation, recession and all the other financial pressures you can imagine operating in the world today. Although have long been familiar with the concept it just wasn’t something I felt I could do.

My mind kept telling me to get involved with such a paying plan one would have to have a great amount to deposit in an account. Then where would I find such a thing?
Having been working on the internet for a couple of years I had yet to come across such a thing. But then, I did.

In plain words there are such things on the internet and I have found some that require only $10 to start an account. What really bothers me about such things is that I have a very difficult time telling folks about it because they don’t believe me.

Everyone says, “oh yeah, I know about compound interest.” But then, those same people will look at the interest I am being paid and they immediately start telling me I’m being scammed and suckered. Having done my due diligence I have found that the chance of that is fairly small.

So, what if I was being suckered? Is there anything I could do to minimize my position? I wondered. And at once it was apparent to me. I decided to treat my investment as I would a night at the craps table. I would only invest what I was prepared to lose. So, let’s say we play it that way. Let’s say we have $1,000 to lose without thinking about jumping off a tall building. I could wait for my money to double and then take my original money out leaving only the interest earning interest. And that is how I play it.

One of the programs that I am involved in pays an incredible rate of up to 25% per month compounded daily. Let me show you some calculated results using that initial $1,000.

$1,000 over one year would result in a total balance of $14,551.92. At that time I would withdraw my $1,000 and cast the remaining interest back in to doing what it was doing before.
At the end of the second year my accrued amount would be an incredible $197,206.39 and the third year would put me into the millions. An unbelievable $2,869,730. Wow, like winning the lottery and how much did I risk? Only $1,000. That was my complete exposure to the program. Never mind that some of the programs are run by some of the biggest banks in the world. You hear their names everyday on CNN or FOX.

The miracle of compound interest. It exists out there folks. It works because some entity like a bank is lending that money out at a horrific rate or is investing in futures and doing so by borrowing the money from you and I to do so.

What are they making on our money? Probably 40 to 70%. It is worth it for them to pay us to put the money out there for them to use. The trouble with all this is “US”, I mean you and I. Well, maybe not me. Do we fear making a mistake so much that we cannot bear to lose an amount that will not change our life if we do. Because if we choose to take the risk on a small amount we might end up having life-changing results. The only mistake in life is believing our fear of making one.

A.C. Benson said, “One’s mind has a way of making itself up in the background, and it suddenly becomes clear what one means to do.” This is what anyone that truly wants to succeed to the Nth degree needs to think about. Risk and reward and the miracle of compound interest.

Do you believe it?

14

Stars / Dave Ramsey

« on: September 03, 2018, 03:10:50 PM »

Dave Ramsey

Who is Dave Ramsey: https://en.wikipedia.org/wiki/Dave_Ramsey

An opinion of a fan of Dave: Dave Ramsey’s Financial Peace University July 22, 2005

We all at one time or another encounter a turning point in our lives. My turning point was my attendance at a Dave Ramsey Financial Peace University seminar. It was as though someone had wiped the fog from my bathroom mirror. My focus became very clear that day. To begin with.

I have to be honest, I was not at all thrilled about going. It was a Saturday and I don’t like to spend my Saturday’s sitting in an auditorium for 6 hours. The presentation was to start at 1 PM so we left home and just made it in time. I figured we’d be alright since I thought this could not be such a big event. Well, I was wrong. We just barely found a please to sit. Once Dave Ramsey came on I was glued to my seat.

The one thing you’ll quickly notice about Dave is that he is brutally honest about debt, credit cards, and money in general. That’s a good thing for most people, but a shocker for a some. To be told ” You don’t deserve squat” knocks a few of the self-centered in the audience of their chair. But it’s true as a lot of people these days think that just because they breathe air they should get whatever they want. Not to pick or insult college graduates but I’ve seen some that think just because they have a college degree they should get a top job, yet they have not proven themselves in a work environment.

Dave’s seminar is lively, interesting and filled with tidbits of humor to keep the pace upbeat. What he teaches is laid out in the most simple terms so that it can be understood by a wide audience. The stuff he sheds light on are truly common sense. Dave does not pretend them to be magic formulas or secrets. These are things you and I both are probably aware of but have never looked at them in the context Dave puts them in.

For example: Your greatest source of investment income is your salary. Yet most of our salary goes towards debt. So if we focus on getting out of debt first then we free up our income for investing. Simple, effective and true.

During the breaks several items are sold by Dave . Books, Cd’s and Video. Most all are reasonably priced. Are they worth what you pay for them? In my opinion, absolutely.

We purchased Financial Peace University in March of 2005. As of July we have eliminated over $6000 in debt and also have an emergency fund sitting in a money market account. We use the envelope system and have taught others to do the same thing. But even more important than the debt is we began tithing 10% of our earnings to our church. It truly is a great feeling and is something we truly and enjoy.

If you have the opportunity to see Dave Ramsey live do so. It may change your life.

15

EARN MONEY / Money Market

« on: September 03, 2018, 02:46:46 PM »

Money Market

You just have options which are limited in your local banks and a number in the national banks if you desire of the best money market rates. Nowadays, you will be able to find money rates in the host of the banks all around the nation because of the emergence of the online banking and online shopping. These sites could be used for comparison in case you are looking for the best money market rates. Because of the competition that is getting fierce, the banks would even try harder to earn your choice. And at that point, you can use this knowledge as an advantage in getting the best money market rates.
Determining Money Market Rates
You may ask this question – how will money market rates be determined? Well, let’s start with the fact that the money market accounts are savings accounts which are turbo charged. You will be able to earn almost the same interest rate and at the same time you could write checks coming from them but only for a limited number. Although the return in the money market accounts is not that high as compared to the certificates of deposit (CDs), it would still be of convenience. When it comes to the money market accounts, you can withdraw the amount of money you need whenever you need it. Hence, the bank would be giving you lesser interest.
Just like the CDs, the money market rates are changing daily. There is no formula and co clear all-time winner whenever you look for a bank that would be providing you with the highest rates. Luckily, the sites which give you banking rate comparisons would allow you to compare the current market rates between the banks. At the same time, you are given the details with regard to the specific terms like the number of checks you could write or even the minimum balance (if there is) that you will be needing before you will be charged with a fee every month. The usual case would let you invest as low as $1000. Unless you go below that amount, you will not be charged with a monthly fee. As brought by the nature of the market accounts, there is a legal limit on the number of checks that could be written within the month.
Furthermore, the maximum rates which are given to the money market accounts are part of the advertisements and are in the account paperwork as the Annual Percentage Yield or popularly known as APY. In order to get the APY, the holder of the account must leave the principal deposit as well as the interest which were earned by the account. In this way, the interests are permitted of earning interest as well. This is what is referred to as compounded interest.
Opening of a Money Market Account
In frequent times, any credit union or bank would be requiring the lowest possible amount of balance to open a money market account. This required balance must be maintained in producing interest. The account owner must complete the verification process of the requirement of the minimum balance in making sure that the bank would continue to produce the highest market rates.
Henceforth, the holder of the account must be able to follow the federal policies and regulations. These policies serve as a guarantee that there will be no costs that will be charged to your account. Any costs that would be charged could possibly affect the capacity of the account holder in getting the highest rates of the money market that has been advertised in favor of the said account. The said costs could include Regulation D fees, monthly service fees and transaction charges.
Because there is the possibility that the money market rates could change, the holders of the accounts must continue in verifying other banks and credit unions in order to find the best rates that are being offered. The accounts could be closed and the owners have the freedom to transfer their money into another account without incurring penalties. It is just that the account holder must move the funds only after any interest earned have been posted into his or her account.
So, which would you choose? Would it be money market account or the CDs? This question would be usually asked because the two has many similarities. If you will not need an access into your account for quite some time, the CDs would be paying a higher rate. But if you need to write checks in a flexible manner, have access to your funds in an instant manner and you want an interest rate of a savings account that is competitive, you have to choose money market account.
The money market account is a low risk and a safe way of investing your funds while you are given the freedom in accessing your money anytime you need it.

Is that true? Any opinions?