5 Ways to Smash Debt with the Right Forex Strategy

Whether we want to admit it or not, most of us are victims of debt at one level or another. This unfortunate situation is only expected to get worse. According to analysts, most individuals in the United Kingdom will be burdened with no less than £47,000 pounds of debt by the year 2020. This equates to an aggregate amount of an astounding £2.5 trillion pounds. As opposed to always keeping the collection agency at bay, successful Forex traders can now leverage their strategies and wipe away this debt over time. How can this be accomplished?

Patience is a Virtue

Monumental amounts of debt cannot simply be wiped away with a few trades. Not only is this an unrealistic expectation, but it could also be very dangerous. Those who opt for short-term solutions will often expose themselves to unnecessary levels of risk. It is critical to determine the approximate returns that are expected over standard periods of time (such as months or quarters). These goals can then be tackled piecemeal.

All That Glitters May Not be Gold

Trading platforms come in all shapes and sizes. Of course, not all are equal. Choosing only the most up-to-date and streamlined system is another core component of Forex success. The architecture provided only through CMC Markets is a perfect example of the marriage between form and function. With over 80 technical indicators and thanks to dozens of currency pairs to choose from, the most efficient strategies can be chosen. Thereafter, it is possible to begin chipping away at a mountain of debt.

Small Profits for Big Returns

The basic principle that is adopted by professional Forex traders is that profits need to be accrued over time. This is directly opposed to the myth that “going large” on a single trade is the most prudent way forward. The weight of one pebble is negligible. The aggregate mass of a bucket full of stones is significant. This perspective holds just as true within the world of currency trading. Small returns can quickly add up.

Sustainability

Sustainable trading is associated with not having to deposit additional funds to prime a personal economic “pump”. The only way that a sustainable approach can be enjoyed is to limit the amount of capital put forth within any given trade. In fact, this can be as low as a few percentage points of one’s net account. Regardless of the temptation, it is never prudent to place a lion’s share of liquidity into a single position. This will help to sustain a lucrative position well into the future.

Margins?

Margin trading can be an extremely powerful means to leverage a small amount of capital and transform these limited funds into a massive return. This vehicle is not without its share of risks. Namely, more money can be lost than was initially deposited. Margin trades are excellent options, but be certain to have stop losses in place and to always appreciate the inherent volatility involved.

Give Your Wallet the Boost it Needs

It happens to everyone at some point in their lives. They open up their wallet or look at their bank statement and the money they need isn’t there. It may only be a matter of time before it happens to you too. Why you end up in that circumstance isn’t necessarily important. It can be as simple as surprise rate increases on all of your utilities or as serious as necessary, emergency repairs to your household’s only car. Whatever it is, it will come with the realization that you need to borrow money in order to make ends meet. In order to make sure you find a reliable loan that’s right for your financial situation, you need to be informed about your options.

Wallet-Boost

Decisions, decision
Whatever part of America you call home, there will never be a lack of choices when it comes to loans. According to the St. Louis Federal Reserve, there are over 20,000 payday lenders across the country. Not all of these lenders will have your best interests at heart, as some will deliberately offer over-sized loans with challenging rates and fees. These sorts of lenders design their terms and conditions in order to set you up for failure. By ensnaring you in a loan outside of your means, they intend to profit from the inevitable late fees and additional interest charges that you rack up.

Other lenders will have manageable, responsible loan products, but their process is too slow or laborious for your situation. Many traditional lenders have lengthy applications that require in-depth reviews of your current finances and financial history. In order to complete this process, they have to communicate with other companies that help them process and facilitate the loan, which adds time to the entire procedure. When time is of the essence or if you have poor credit, traditional loans can’t offer what you need.

Don’t be discouraged
Luckily, usurers and traditional lenders aren’t the only companies that make up those 20,000 organizations. There are direct online lenders that offer responsible access to money without requiring time-consuming, complex applications. These lenders will have a license to do business in your state. This licensing will ensure their rates, terms, and conditions abide by the lending laws set out by your local government. With this accreditation, direct online lenders will provide loans that aren’t outside of the average American’s means to repay.

To apply to a state licensed direct online lender, you need only roughly 20 minutes on a secure online network. From their website, you can fill out a simple form that requires you to prove your income, your bank account, and your email address. You’ll know instantly if you qualify, and you’ll be contacted to verify your information before you’ll know if you’re approved.

Flexibility is essential
Typically, you’ll be approved for a loan ranging between $200 and $500. If you’ve been hit by a series of unexpected bills and other charges that have drained your savings, even this loan amount can be difficult to repay in full within your next payday. In certain states, there are loans that are repaid in smaller installments according to your pay schedule. Instead of having to repay the $500 in one lump sum, you can distribute the total over several weeks.

The particular amount and the associated fees with these installment loans will differ from state to state. For those living in Delaware, Illinois, South Dakota, Texas, and Utah, you should check out Moneykey.com/flexpay-installment-loans-online.php to learn more about installment loans.

This review may take time but it’s necessary in order to find a loan that works with your situation. When you put in the effort to find a state licensed lender, you can find a quick and responsible installment loan to help you cover your expenses – even if your wallet is empty or bank statement is in the red. So open up a new tab now and start your research today.

John Hancock Investments Has A Different Approach

As one of America’s most trusted brands, dating back to 1862, John Hancock’s core mission is to pursue client financial goals. That’s why they hold their financial advisors to the highest standards, with vigorous overisght of their managers and funds.

With nearly $132 billion in assets under management across 4.4 million shareholder accounts, keeping customers happy is essential to what John Hancock does. And the way they do that is with elite asset managers, portfolio teams, and over 100 investment strategies, so no matter what your financial goals, they’ve got an approach that will fit your needs.

How Can Forex Traders Avoid Losing Money?

trading optionForex is the world’s largest financial market, and the trading volume each day is in the trillions of dollars. Because it is so popular, and there is so much potential, it is a very attractive trading option for many. Those who are experienced can do quite well with Forex, as long as they take the time to learn what they are doing. Newer traders who want to trade are generally at more of a disadvantage because they don’t have much other trading experience to help them make the right decisions.

Why Do People Like Forex?

There is a lot of money in Forex, but that’s just part of the reason for the popularity. Traders like that they are able to trade around the clock, and that it is possible to gain leverage with these types of trades. In addition, it’s relatively cost effective.

Of course, you also have to think about the risks involved with Forex. It’s possible to lose money quickly if you are not careful. However, with the tips that follow, it will help you keep your losses to a minimum.

Practice and Learn First

You have to learn how Forex works, and you need to understand the various things that can cause foreign currencies rise and fall. What political and economic factors will affect the currency? Knowing these things will make it easier to predict what is going to happen in the market, thus making it easier for you to make smart moves in Forex.

Before you decide to risk real money in the market, you really need to know what you are doing. The best way to do that is to set up a practice account. These accounts will let you practice with fake money so you can get an idea of how your plan and strategy work.

Find a Good Broker

In order to facilitate your trades, you need to work with a broker. Make sure that you choose a broker who has a good reputation. There is less regulation in Forex than in other areas of trading, and that means that some of the so-called brokers out there do not really have your best interests in mind. You need to take the time to find the best.

Keep Records

Having records of your trades, your wins and losses, and the strategies you used can prove very handy down the line. You can review them to see what you did right and what you did wrong. This can help you when you are altering your plan so you do not make the same money losing mistakes in the future.

Think of It as a Business

Even if you are just trading part time, think of it as if it were a business. Understand that you need to look at the big picture for your business, and that you do not have to dwell on the short-term losses and gains.

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A tree fell on our house. 

No really a Giant tree crashed down on our house yesterday evening during a gnarly Seattle Storm. Check it…


  
Fudge.

Have a dozen or so holes in our roof and two busted skylights, but otherwise things seem to be in decent shape.

Now I get to go through the process of learning how a homeowners claim is handled.
Woof.

Hey I’m on Forbes Today…

So a Forbes journalist reached out to me a couple weeks back and we did a phone interview about my life and financials. The article is live on Forbes today and if you want to read it you can click here. I wouldn’t say everything in there is exactly how I would have portrayed our situation, but nonetheless, it’s a still a decent piece.

And if you want to get a real kick out of it, click over to the same article on Yahoo and read the comments. Man, some people are brutal 🙂

I’m not dead. I’m just really busy making da money.

I’ve always wanted to be the type of person that sets goals for themselves. Let me pat myself on the back as, today, I’ve reached a new goal.

LONGEST TIME BETWEEN BLOG POSTS IN THE 6 YEAR HISTORY OF THIS BLOG.

I know. I know. You’re so proud of me right?! Thanks for your encouragement.

For realsy though, I’m at a weird crossroad. This blog is literally titled Punch Debt In The Face, and as such, feel like the voice of the blog should be about debt, or at the very least, personal finance. That said, after 1,170 blog posts, I just don’t have much left to say about money. 

That’s not to say that I’ve stopped caring about money. My Roth IRA, 401k, and taxable investment accounts are still very much a part of my life and I love them dearly. But I just don’t have any interest in writing about them anymore. At least not often enough to warrant posting here.

I’ve flirted with the idea of selling off my blog for a couple thousand bucks. Letting some spammer take it over and blast you with a million posts about “10 ways to get out of debt” or “Best credit card offers”. I’d want to punch myself in the face for doing it, but money is money.

The other part of me wants to just let it lay dormant and post as desired (kind of like I am right now). Maybe sometimes I post a couple times a month. Maybe I go six months without any new content.

Part of me wants to just rename my blog Punch Life In The Face and just write about whatever the hell I want without feeling like I need to cater to a specific audience, but unfortunately, website SEO hates new domains.

And so here we are. Only problem is, I’m not quite sure where “here” is.

I can tell you that I’ve been continuing my latest money making hobby of flipping a ton of furniture on craigslist. Here are my most recent deals..

Original Z Chair. Paid $250. Sold for $850.


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Stanley Credenza. Paid $250. Sold for $600.

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Lane Credenza. Paid $50. Sold for $500.
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Arnt Sorheim Credenza. Paid $450. Sold for $1,050.

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Lane Credenza. Paid $250. Sold for $650.

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Norwegian Teak Credenza. Paid $500. Sold for $1,500.

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BoConcept Leather Chairs. Paid $1,000. Sold for $1,900.

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Walnut Credenza. Paid $350. Sold for $800.

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I know after my last post about flipping furniture I got a few emails from readers saying they gave it a shot and were able to make a quick profit. So far my furniture investing is absolutely destroying actual stock market investing. Can’t beat a 100% to 200% return on investment.

Go flip some furniture already. Unless you live in Seattle, then back off… I call dibs 🙂

Oh, and I’m 99% sure Girl Ninja and I are having a piece about us go up on Forbes this week. I’ll link to the post when I see it… assuming I’m happy with how it portrays us, haha.

Edit: the forbes article is up. Found here.