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Author Archives: Glasses or Contacts

Helping Your College-Aged Kids Build Their Credit Score

A good credit score is important in determining whether you’re eligible for loans with affordable rates and higher lines of credit. When it comes to helping your kids understand the importance of building their score, the earlier you start the better. In an interesting study, CreditKarma found that the average score for those between the ages of 18 and 24 was 630. This is considered poor credit; just 20 points lower than a 650 credit score which is considered fair. Even so, college students will have a greater opportunity to improve on financial discipline before entering the workforce. Yet, with tuition and other college related expenses, it can be difficult to stay above water and not enter a spiraling cycle of debt. Teaching them to live within their means, paying credit card balances in full each month and applying for scholarships will assist in reducing the amount of debt they carry once graduated. A few ways to guide them on proper financial management include: 1) Let them Piggyback Allowing your child to become an Authorized User on your credit card account will help improve their score. You’ll be able to keep track of their charges and assist them in building a solid credit history. This ...

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How Do Interest Rates Affect the Price of Gold?

As Gold doesn’t have an inherent interest rate, traders holding the commodity incur opportunity costs when interest rates rise, a factor which favours other asset classes. Opportunity costs describe the loss of alternative investment vehicles once Gold has been chosen. It is important, therefore, to keep a close eye on interest rates and related financial variables to know if Gold is a sound investment.   In simple terms, when interest rates are falling, investors tend to seek out Gold, which boosts  demand for the yellow metal and pushes its price upwards. On the other hand, when interest rates are increasing, savings, short-term debts, bonds, and other fixed income investments become more attractive, because they are now more profitable. As a result, investors are discouraged from holding Gold, which depresses demand and forces its price downwards.   Of course, this negative correlation between interest rates and gold isn’t always linear, as sometimes interest rates go up, while the Gold price remains flat, or even rises, often due to higher industrial demand, or because a natural disaster has occurred.   The positive correlation between US interest rates and the US dollar is also important to consider when trading Gold. When interest rates ...

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Graduation: Give a Lasting Gift to Your Children

When your children graduate from school, it is an exciting yet scary time for everyone. They have the whole world ahead of them to do what they please. Whether it be heading straight to college, jumping into the workforce or travelling around the world, life is at their fingertips. But with this sense of freedom comes a great sense of responsibility – and worrying parents. Your child’s safety and protecting their future are now top priorities. So while you are debating on the perfect graduation gift for your child, why not consider something that will help protect their future? Here are a few reasons why gifting life insurance to your child is a good idea. It’s A Stable, Reliable and Lasting Gift The gift of life insurance is not going to fall apart or go out of style the next year. Unlike buying a material object as a present, a life insurance policy will be there for your children. As long as premium payments are kept up, it won’t be going anywhere for quite a while. It Provides Protection A life insurance policy is there to protect your loved ones in case of unexpected death. It is there to pay ...

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Ways to Preserve Your Home to Prevent the Need for Spending More Money in the Future

Maintaining your home is not just important to the health and well-being of every member of your family, but also, can help you save a lot of money in the future on avoidable costly repairs. Luckily there are many ways to preserve the integrity of your home, helping to reduce the possibility of an unplanned catastrophe. Pest Control No home is 100 percent pest-free. A couple of bugs here and there may not seem like such as big deal. However, in many cases, it’s the ones you don’t see that can cause a lot of damage. Termites hide inside the walls of your home feasting on your wooden supports. Once you see one it’s too late. The same applies to mice and rats. They can chew through your wiring and cause your home to go up in flames or bring disease to a family member through their toxic droppings. Thankfully, in almost every corner of the states, there are companies who specialize in pest control. For example, if you live in Kansas City, you just need to look in the yellow pages or go online and see the list of companies that offer Kansas City pest control services. A Solid ...

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How The Biggest Banks Are Copying The Fintech Industry

Fintech companies represent a niche industry at the peak of innovation, quick to respond and adapt to ever-changing needs of their customers. They’re leading the way with ground-breaking money management apps, online lending options, and mobile wallet opportunities. Trailing behind them are conventional retail banks, stalled by outdated banking models. These financial giants have a choice. They can remain unchanged and continue to offer traditional services to an increasingly frustrated consumer base, or they can follow in fintech’s footsteps. Many of them are choosingthe second option, as it’s the only these financial stalwarts can remain relevant in an increasingly digital age. Though they may be slow and cumbersome in comparison, here are three ways the biggest banks are copying the fintech industry. Money management apps By far the most popular money management app on the web, Mint has over 20 million users. The app was a trailblazer in 2007, and it remains a huge force within the financial world today. It’s a mobile budgeting app that offers an easy way to track expenses by synching up with users’ banking accounts. Though a leader within the industry, it’s not alone. Joined by countless others, including Spendee and YNAB, Mint represents consumers’ ...

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