• How Hiring an Accountant Can Transform Your Finances in 2017

    by  • January 11, 2017 • Tagged: 

    Benjamin Franklin once said, “…In this world nothing can be said to be certain, except death and taxes.” Never is this phrase more applicable than in the world of finance.  Whether you are a big business, small venture, or an individual, finances must be a focus.  Unless you are a certified accountant yourself, you may not know as much about the intricate details of money-making even if you are surrounded by it every day.  Consider this:  you participate in the national and global economy every day, but you may know nothing about how it works. Instead of floundering about with your finances, here are a few reasons why you should hire a trained professional to help you in 2017.

    1. Bookkeeping.  If you are a particularly busy person or a growing business, a bookkeeper can do you a great service.  This person can balance your checkbook for you and analyze credit card statements.  If this interests you, look for accountants that specialize in bookkeeping.  Although this is not an essential requirement, a growing number of accountants that take this route receive certification from QuickBooks or the American Institute of Professional Bookkeepers.

    2. Legal Advice.  A trusted accountant can give you valuable information about financial law.  If you own a company, you may want to hire an accountant to advise you on growth, so that you can confidently stride forward.  Different businesses will have a unique legal structure that, if left unchecked, will leave you dangerously vulnerable to legal issues such as lawsuits.  This is especially important if you, for example, have payment obligations to other contracts.  If you are on the fence about hiring an accountant for legal advice, remember that this invaluable information can protect you in the long run.  Not only does it prevent you from unintentionally breaking the law, but also educates you on how to avoid false claims and accusations by your workers or clients.

    3. Financial Advice.  You are still in charge of your finances, but it is the job of an accountant to help you make those decisions. You will still have to think of legalities, taxes, payroll, and credit. Professional accountants have trained for years to gain their understanding of the tax system, often achieving master’s degrees, taking supplemental CPA courses, and passing extremely difficult exams. Their level of expertise can’t be duplicated. The biggest challenge you’ll have is being completely honest with your accountant. Give him or her all of your statements and a true summary of your financial year. If you want an informed opinion, let the accountant ask you appropriate questions and be open to the answers.  They provide you with options you never considered—more tax breaks for example.  Remember that they are not liable for the decision you make, but they can provide their knowledge and expertise to guide you in the right direction.

    4. You’re Busy.  The idea is simple: you just don’t have the time.  The amount of work involved with accounting and financial organization can seem insurmountable if you don’t have proper training, but an accountant can resolve your issues quickly and efficiently.  In addition, if you have a lot of tax work on top of your business work, you may easily make mistakes that will cost you dearly in the future.  If you hire an accountant, they can save you time and money so that you may devote more time to your business as well as avoid pitfalls that can cost you dearly. An accountant is responsible for reviewing your taxes and even improving your refunds. How’s that for getting more bang out of your buck? Even a small business will become more complex over time, but you don’t need to go through it alone.

    5. Keeping You Accountable.  Sometimes, just having someone there who is an expert can be a huge relief. An accountant can keep you responsible and on task.  You can change bad financial habits you may not have even known you had and create a stronger business because of it.  Don’t be afraid to seek financial advice from an accountant—it can be the best decision you ever made for your business.

    Spread Betting is a Time-Efficient Way to Make Extra Money While Building Your Business

    by  • September 5, 2016 • Tagged: 

    Building a business is tough and time-consuming. There are lots of ways to do it, and no two businesses are just alike. But there are some common themes for almost every entrepreneur. For one, money is tight. You don’t have any extra money to spare, whether for your business or in your personal life. For another, your time is probably stretched to the limit. If you need to make extra money you certainly don’t have a lot of time to do it. Finally, your social life and free time are likely non-existent. You don’t have a lot of spare time to do stuff that you enjoy, and you probably look forward to the day when you can change that.

    Spread betting is an interesting speculative investment available through ETX Capital. We’ll show how spread betting can help you out in all three of those problems listed above.

    Spread Betting For Extra Money

    Spread betting is an interesting model that many people will not be familiar with. A spread betting platform will show the user lots of different currencies, stocks, indices, and other financial entities. Each of these options will be shown as a linear value chart, updating in real time. Buy and sell prices will be shown for each option. If a user wants to invest, all they have to do is decide whether they think the price will rise or fall in a certain window of time, as short as a few minutes or seconds. Putting some money on the line, the user waits to see what happens. If the price changes according to plan, dividends are earned in proportion to the amount the price changed. If the price doesn’t change according to plan, the user loses the initial investment. With skill, the user can make a lot of money this way, and get it very quickly.

    Spread Betting For Someone With Little Time

    There is almost no faster way to make large returns. Spread betting is perfect for someone with little time to spare. These trades can be performed on a lunch break or while at the gym, on a tablet or mobile device. You may have some long-term investments in motion, but these take a lot of time and money to grow to maturity. If you don’t have a lot of either resource to spare, spread betting might be a good option.

    Spread Betting For Fun

    Spread betting is fun and exciting. Even if you have a very little money to invest, you’ll be excited to see how your speculation turns out. Most platforms even have free-to-play trial accounts, where no real money is at risk. Try this first to see how you do.

    Spread betting isn’t for everyone, but for people willing to learn the ropes it can be one of the most time-efficient and enjoyable ways to grow your money. Tax-free in the UK, it’s a truly economical way to build your personal economy. Free to learn and try, there are really no downsides. Give it a whirl and see if you can bring this investment mode into your daily life.

    Three Skills that You Need to Be a Successful Forex Investor

    by  • August 26, 2016 • Tagged: 

    Forex can appear to change on a whim, a value rising or falling dramatically within an incredibly short timeframe.

    This appearance is erroneous. Forex is not a game of luck. The currency markets change due to thousands of intertwining external factors, and this real world aspect makes it possible to predict how they are going to move in advance of it actually happening. Thus, with enough skill and experience, you can begin to stack the odds in your favour, and make a success of trading.

    If you’re considering giving it a go yourself, then here are just three of the skills that you’ll need to work on…

    #1: Keeping Your Cool in a Stressful Situation

    One of the most common mistakes amongst inexperienced currency traders is reactive trading, so it’s important to learn how to keep your cool in high stakes situations. Losing your head and making your trades with the sole purpose of righting your wrongs is almost always a bad idea. Instead, you have to be able to appraise your next trade as if nothing has gone awry, and the stakes are no higher than they would usually be. Thus, if it would be bad trading to make a move in ordinary circumstances, it will still be a bad idea if your profits have fallen, however great the potential yield if your high-risk gamble went to plan.

    #2: Being Able to Appraise Probability

    When it comes to currency trading, it’s also important to be able to weigh your risks. Although everyone will have a different risk threshold, you must have the ability to look at the odds with yours in mind. This means being able to walk away from making moves that are almost inevitably doomed to failure, because you have the nous to see how high risk they are, rather than just how high reward they could be.

    #3: A Willingness to Learn

    Last but not least, savvy traders must have a hunger for learning. No matter how long you have spent perusing and trading the markets, there is always more for you to teach yourself, and the more educated you are, the greater your chances of success become. Research, read, and apply your new knowledge. If you identify areas of weakness in your strategy, find methods to combat this. The more time you spend on refining your tactics, the higher your profits will soar.

    If you’re thinking of giving trading a go, take what we’ve said to heart. Apply our tips, find a reputable broker like ETX Capital, and there will be no limit to how well you can do.

    With some Luck, You Can Put Debt Where it Belongs: In the Past

    by  • August 17, 2016 • Tagged: 

    When it comes to serious budgeting and personal finance, luck is the last thing you want to rely on. Budgeting is all about prediction, you know, and luck is – by its nature – unpredictable. But sometimes it steps in, making things take a favorable turn. It can be in the form of an unexpected raise or promotion at your workplace, or even an unexpected win. The trick is to give it a chance.

    Meet Jon Heywood

    Jon Heywood was an average man from Crewe, Cheshire, who let a TV ad convince him to give chance a… chance. He registered an account at an online gaming portal, made a deposit worth about £30, and started playing (small stakes) on a progressive jackpot slot machine called Mega Moolah. Imagine his surprise when he not only won, but hit the jackpot of a lifetime: £13.2 million (equal to about $21 million at the time). The life of the 26-year-old Afghanistan veteran has changed overnight – the win provided him with a solution to many of his issues, including the treatment of his seriously ill father.

    His win was the biggest ever in the world of online gaming, but not a single case.

    Progressive slots

    The Euro Palace Online Casino gives anyone the chance to win big playing progressive games, without a major burden on their finances. The key is, of course, moderation – having a certain amount set aside for this goal each month, and not exceeding it, no matter what. Playing at the Euro Palace will not guarantee a big win, of course – it all depends on luck. But it provides players with the possibility of rounding up their monthly budgets in the most entertaining way possible – through games. Many are playing social versions of its games already, often feeding them with small amounts to top up their accounts. The Euro Palace offers the same entertainment experience – or even better – with the added chance of real wins. Let the Euro Palace Winner’s Wall stand witness to this claim.

    Budgeting in the fun

    Each budget should have an amount set aside for entertainment. No matter if it’s a movie ticket, a dinner at a posh restaurant, or even a city break at a wonderful foreign capital, the fun has to have its place in anyone’s budget. Depriving yourself of even the simplest form of entertainment – even if it is for a greater goal, like paying off student debts or mortgages – can lead to issues like depression or burnout, which can then lead to the demotion of health and quality of life. Which will cost way more to repair in the long run.

    Investing and Trading – Contrasting and Complimenting

    by  • July 19, 2016 • Tagged: ,

    Except for finance professionals in the investment world, most of the rest of us assume that investing and trading are one and the same thing. It is not rare to find someone using the two words interchangeably in a statement as if they are synonyms. However, the two words have different meanings and they are two different concepts which have a few similarities nevertheless. Investing generally is a long-term view of wealth creation while trading is a short term view of making gains from the rising and falling of prices of the investment instrument you are buying or selling.

    buffetFor investors, the focus is on a concept called value investing which was advanced by the respected US investor Benjamin Graham. Ben Graham was also the mentor to Warren Buffet who is the global icon today in stock investment. Under the concept of value investing, the investor does what is called fundamental analysis of the market to identify the intrinsic value of the stock they want to buy. After calculating the intrinsic valuation of the stock, the investor will then wait until the market undervalues the stock to make a purchase of the undervalued stock.

    The whole concept of value investing is based on the belief that all traders are irrational and they overreact when making trading decisions based on good and bad market news. As such, the resulting stock price from the forces of supply and demand is not always the intrinsic value of the stock. In the long-run, investors believe that the stock will overshadow the market overreactions and its price will correct itself towards the intrinsic value. It is based on this premise that investors look for stocks they believe are undervalued and invest in them for the long run as they wait for their prices to get to their intrinsic values.

    Once the stock the investor holds goes beyond its intrinsic value, it is said to be overvalued and the investor then sells it and earns the margin between the price they bought it for and the price they have sold it at. It is a common belief amongst value investors that you make your money when buying and not when selling. The goal is therefore to always find the most undervalued stock based on its intrinsic valuation from your fundamental analysis and buy it at the that lowest price; then sell it later when the price corrects itself to or beyond the intrinsic value. In its very nature, investing is a low risk undertaking.

    On the other hand, for traders the focus is on making quick gains from the day to day price movements of the stock being traded on. Traders can follow a strategy called technical analysis in making predictions about price movements of various stocks and hoping to gain from them. In essence traders make money through speculations. To make their speculations more informed, they use charts to track the stock prices and use the trends formed by the price movements to predict the next movement in the price of the stocks they are trading in. Their predictions then inform their buying and selling decisions.

    Traders are also very keen on market news too and often use the news from the market to predict the way their charts will move in the short-run. If good news about a company comes up they assume that the market will reward the company by buying more of the shares of the company. This will then push up the demand for the particular stock relatively higher to its supply and hence result to an increase in its price. With that assumption in mind, traders then buy the stock of the company that releases good news into the market and sells it when the price rises. On the other hand, if bad news hits the market either from a specific company or on economic and geopolitical sectors, the market slows down and prices fall as traders sell off most of their holdings. This makes trading a very risky venture due to the random price fluctuations in markets. buffet

    However, with the new generation of trading companies, even beginners can start trading in controlled environments where their risk is moderated. Companies such as Avatrade.com offer automated trading programmes that moderate risks for beginners. They also offer experienced money managers who support beginners in trading based on their risk appetite as thy learn more about the market. Another strategy that can be used to by new traders is the stop-loss options which are available in the new generation of trading companies.

    Taken together investing and trading have their own outstanding differences. However, in both cases you need to analyze the markets before getting in. In the end, you might want to begin with investing, but if you want to get regular returns from market movements, you will soon find yourself venturing into trading. Done together, investing and trading can be used to construct a well-balanced investment portfolio with evenly distributed returns and reduced risk exposure. This will eventually improve your personal finance and lead you to your path of financial freedom.

    Reasons People Trade Forex

    by  • July 19, 2016 • Tagged:   • Comments

    The retail market of forex is starting to become more popular each day and this phenomenon makes us look for the answers to the following questions: “Why is forex so attractive to a lot of people? What makes them interested in trying to learn how to trade in the forex market?” We are here to ... Read more →

    3 Financial Management Tactics You Can Start Using Today

    by  • June 28, 2016 • Tagged: , , ,  • Comments

    Financial management is about more than just balancing your checkbook and making sure you don’t spend more than you make. Let’s take a look at some of the financial management tactics you can start using today that can help you achieve your long-range goals. Before we do, let’s make an important distinction between tactics and ... Read more →

    Bad Credit Alternative Lending Solutions

    by  • May 4, 2016 • Tagged: ,  • Comments

    For a large part of America’s population, times are tough and taking out the occasional loan is a must. Without a steady job or a great credit history, they may end up looking at alternative lending solutions. Payday Loans Payday loans are the most expensive short-term loans available. Offered on practically every street corner in ... Read more →

    Tax Scams You Should Look Out For

    by  • April 7, 2016 • Tagged:   • Comments

    Accountants busily working away, stressful documentation issues, and the hope for a big tax refund—yup, tax season is definitely here. The end date to file your taxes is upon us, and if you’ve waited until the last minute, you’re most likely frantically hurrying to get them done. Or perhaps you’re an early bird who had ... Read more →

    Is Owning a Rental Property Worth It?

    by  • January 13, 2016 • Tagged:   • Comments

    The buy-to-let market should be going through something of a boom. With first time buyers still finding it hard to raise the required mortgage deposit, often 25%, the housing rental sector continues to increase with almost 3.5 million people today living in private rented accommodation in the UK. But is owning a rental property worth ... Read more →

    Taking On Wedding Debt Is a Bad Idea

    by  • August 21, 2015 • Tagged: , ,  • Comments

    Getting married can be a wonderful thing if you’ve got rich or generous parents and an unlimited budget to fulfill your wildest wedding dreams. But if you’re like most people, the cost of getting married can unfortunately detract from the happiness of what should otherwise be your special day. According to The Knot’s 2014 Real ... Read more →

    How to Save Money on Monthly Expenses

    by  • February 16, 2015 • Tagged: , ,  • Comments

    1.      Verify You’ve Signed up for the Right Plan The wrong cell phone plan can eat up a lot of your income. So you want to be sure you are signed up for the right plan. Contact your carrier and check to see how many minutes you are actually using versus what you are paying ... Read more →

    When Should You Buy Your First Home?

    by  • November 20, 2014 • Tagged: ,  • Comments

    Are you thinking about purchasing your very own home for the first time? Perhaps you’re sick of renting or you’d just like a permanent place to call your own. Whatever the case may be, make sure you’re certain that you’re ready to buy your first home and are doing it wisely. Follow the helpful tips ... Read more →

    Maximize Profit on Your Business Website

    by  • November 19, 2014 • Tagged: , , , ,  • Comments

    Every business needs a website. Local market searches are a driving force for businesses to increase market share locally. Organic web traffic is not just about local traffic, though that is where the bulk of online traffic generates. It is also about global traffic. Shoppers in other countries use the web to find better products ... Read more →

    8 ways to monetize your website

    by  • September 29, 2014 • Tagged: , ,  • Comments

    The Internet is a great way to make money. In order to do this though, it is necessary to know how to monetize a website. There are all sorts of different ways to do this, but knowing the ins and outs of this process is helpful. That is why understanding the eight different ways to ... Read more →

    Budgeting for Traveling and Using a Great Rewards Credit Card to Help Along the Way

    by  • July 8, 2014 • Tagged: , , ,  • Comments

    Learning about different cities, cultures and customs is educational and exciting! Everyone loves to visit different places, whether it is to visit friends or family or for a vacation. You may be wondering if it is possible to travel more without spending a lot of money. It is possible, with careful budgeting and using a ... Read more →

    Loan Shark Guide

    by  • July 3, 2014 • Tagged:   • Comments

    With research suggesting that the number of illegal money-lenders operating in the UK continues to soar, read our handy guide to how to spot a loan shark and what to do if you fall victim to one.  Our guide covers the definition of a loan shark, how to handle a loan shark as well as ... Read more →

    How to Cruise on a Dime

    by  • May 23, 2014 • Tagged:   • Comments

    Cruise holidays are some of the best deals out there for budget travellers. All-inclusive cruise deals mean that most food, accommodation and transportation are all nicely wrapped up into one very reasonable sum for a journey that can vary from the Caribbean to Asia. With a range of amenities that are included in the cost ... Read more →