eHow asked:

Prepaid credit cards are used to rebuild credit. Consumers will deposit money into an account and use that money to spend with the credit card. Learn how credit card companies will eventually allow the consumer to use regular credit cards after a prepaid card withinformation from a registered financial consultant in this free video on credit cards. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC

Joel

Nicole Anderson asked:




Proof that the problem of unclaimed money is a national problem is evident from the fact that the Maine Unclaimed Property Division owes 122 million dollars to more than 500,000 people spread all over the nation. The money is waiting to be claimed by its rightful owners.

To be more specific, a staggering 578,000 people are owed unclaimed money by the State of Maine. There are some unclaimed funds checks that range from $50 to $100. However, some claims exceed even ten thousand dollars. Now, that is a lot of money.

Do not ignore unclaimed money in Maine. The single largest claim is worth $222,000 plus stock. What if this was owed to you?

Unclaimed money can come into existence from the most ordinary transactions. It may result due to the fact that an individual had deposited money in a savings or checking account and then had forgotten about the same. It could result from inheritances that the inheritor is not aware of. Bonds, stocks, dividends- all can result in unclaimed money. If you have abandoned your money and if it has remained so for three years or more, your money must have become unclaimed money.

That $10.4 million of Maine’s unclaimed funds was repaid last year is touted as a major achievement. However, the truth is that $25 million got added as new unclaimed money last year. The net gain was of -$15 million in the last year.

The residents of this nation must find out whether they are owed Maine unclaimed funds or not.

A simple search, based on your name, is sufficient to determine whether lost fund is owed to you or not. The same can be done for your family and your friends as well. Some of the unclaimed funds databases covers the state databases as well as the federal databases. Do find out whether your friends or family members are owed money or not. Simply searching for your money will not do.

To claim funds, documentary evidence is required. You will have to submit the proof of identification. You may have to submit proof of ownership of funds as well. The states unclaimed assets division sees inflow of unclaimed cash throughout the year. Hence, you must check at least three to four times in a year for Maine unclaimed funds.

Do not restrict your search to unclaimed funds from Maine alone. You may be owed money from another state or from the federal base. Considering the fact that $35 billion is owed to millions in the nation today, you could still be owed unclaimed cash.

You or your immediate family members may be owed unclaimed money. Use the money wisely and enjoy the unexpected income.

Jesse

ParkAveConsulting asked:

Risk & Money Management are very important, if not the most important issues that must always be addressed by anyone seriously considering trading the Markets. They cater for the preservation of both your Initial & Accumulated Trading Capital. You may already have a great system or set of rules to determine what to buy but if your method of Money Management is clumsy, you will lose money, unnecessarily! Once buying that share your role is no longer as a Trader or investor but a Risk Manager. At some point in time your trading system will meet a draw down period (losing streak) and if you don’t know what to do, you will lose your feeling of control and try to desperately trade your way out of this crisis. Many people feel despondent and abandon a perfectly good trading system, or give up trading altogether with large profits still to be made. As a Trader or Investor, you’re destined to fail without proven Risk / Money Management rules. Managing the Capital in your trading account, controlling the risk it’s exposed to, the size of each trade, together with exit strategies are all pre-requisites of any Money/Risk Management System and successful trading. All these issues and more are covered with JBL Risk Manager. Short Selling now also included in trial. Now also available: Multiple Portfolios, Stock Split Adjustments, preset Brokerage fees including % and provision to select either short or medium term trading or long term investing. 14 day FREE evaluation now available …

Tamara

Lawrence Losoncy asked:




Only fools and dead people have no worries. Human nature being what it is, all of us worry about money. We worry about money when we have too little, when we have enough and when we have extra. But not everyone worries equally.

Those who worry well about money are relatively stress free when it comes to money management, no matter whether the concerns are about too little money or how to best manage adequate and surplus funds. Those who do not know how to worry about money are nervous wrecks and consider finances to be a headache producer.

I suggest three rules of thumb about how to handle the financial concerns that go with every business and that are usually pressing concerns with small businesses.

First: organize the worries. Financial matters fall into a very few categories such as cash flow, debt management, credit development, receivables, taxes and asset management. Each have their own considerations and need to be well-organized, carefully filed and accurately tracked. For example, with cash flow it is important to have cash on hand to meet daily expenses and payrolls. With credit is is important to develop lines of credit, the longer the better. But aside from writing legibly and making careful notes and entries, none of these money matters merit non-stop attention.

Translating the worries into organized tasks that can be accomplished is a way of acting on the worries instead of worrying. If organizing the worries into action is step one, then step two becomes scheduling the dates on which the actions occur. Change the worry to action, schedule the action, and live worry-free during the interim.

Second: schedule the tasks and do them faithfully at the proper times. Get the taxes done on time. Be sure to make payroll on time every time. Organize debt payments to be automatically deducted or do them manually on the same date each month. It might be that the various tasks related to financial management of the business require a total number of hours each month equal to less than one work day! By organizing and scheduling the financial tasks a new perspective becomes possible: financial management of the business is not a big headache, just a collection of routine tasks!

Third: worry about the finances on purpose. Remember, we are all humans. It is human to worry. The manager of a small business and indeed of any-sized business will worry about finances, no matter how well-organized and efficient the company’s management of financial tasks and policies. The goal is to be worry free in between the tasks you have organized. But the human mind does not always adhere to schedules.

Ridiculous as it may seem, commit yourself to worry on purpose when you “feel it coming on.” Just be sure the worry session has a beginning and end before you get into the worrying. Keep it short: ten minutes is far more than enough to worry yourself sick and get it out of your system. This is a different approach than being half-worried or a little worried or stuffing down the worry.

Nagging worries simply produce a sense of unease. By comparison, an all-out bone-rattling worry acts like a strong storm: it clears the atmosphere so calm can return. Venting out fears, worries and anxiety is a cleansing antidote as old as human nature. Use it as often as needed. It won’t let you down.

Managing a small business brings with it plenty of financial problems and challenges. It is human nature to sit up and take notice of financial problems. Just remember, they never really go away, they only mutate. Managing worry is the best approach: organize the worries, turn them into tasks and schedule the tasks. When you need to worry do it with abandon. The rest of the time enjoy successfully managing the financial aspects of your business!

Alvin

AirelonTrading asked:

The Blog Entry that Accompanies this Podcast is: investorandtrader.blogspot.com My Daily Blog is at: investorandtrader.blogspot.com My channel at BlogTV is: www.blogtv.com Whether you are a forex, stock market, day trader or commodity futures trader, Money management is key. Most know that from my daily blog at investorandtrader.blogspot.com , I often talk about Money Management. Now on the video blog, I will give a brief introduction to it, and in the next few entries, discuss Money Management principles, and the importance of such strategies . . . I am re-doing this video, as YouTube has asked that I remove the videos that have copywrited music before and after thevideo … NOTE: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research and risk tolerance. Included Music is by Paul Young. A personal friend and is not a part of any music license, recording label, etc

Esther

equitymonkinstitute asked:

For more details and services visit : equitymonk.com. equitymonk is a research organization established with the principal mission of carrying out profound research-based analysis of Indian Stock Market. Providing up-to-date research reports to the Market Participants for Intra-Day Trading, Trend Trading (short term) & Investing (long term) through SMS Services, conducting Informative Awareness Programmes for traders & investors as well as imparting practical Training in Tech-Funda analysis are the other activities of equitymonk.

Jerry

William Mccready asked:




A number of qualities are necessary in order to become a successful futures trader. These characteristics can be your keys to success. Some are more crucial than others, but together they form an unbeatable — and winning — combination.

The Discipline of Excellence

Discipline is the primary key to successful futures trading. You must have the discipline to learn your system, study it daily and tweak it to perfection. You must have the discipline to keep a trading log that records your trades, as well as the market conditions, thought processes and external influences that affected each trade. Without such a log, you are doomed to repeat your mistakes, rather than learning from them. You must have the discipline to do your homework, to study and keep up with the market, and to keep your system current.

The Profit of Patience

You must be patient if your trading system is to be effective. By trading too soon, you negate the value of your trading system. You must exercise patience and give your system time to work. More than a virtue, patience for the futures trader is sheer profit.

Learning to Deal With Loss

Loss is simply part of the trading game. You must be able to take losses in stride and get right back in the game. When your system dictates that a loss be taken, you must have the discipline to follow your system, take the loss quickly, minimize the damage and move on.

Perseverance

There are no overnight success stories in futures trading. Success is a matter of building experience, working and perfecting your system, minimizing losses, and capitalizing on small gains. Success, particularly at the beginning, is more often a series of small steps than giant leaps.

Confidence

Above all, a futures trader must have confidence in him or herself. You must have confidence in your system and your ability to work your system — to “pull the trigger”. Futures trading is a game of risk. You can’t be afraid to act. You must have confidence in your ability to read your system and act. Those who hesitate or who second-guess themselves on every trade are doomed to lose in the futures trading game.

Flexibility

The market and market forces are ever changing. You must have the flexibility to change with the times, and to make changes to your system so it remains viable and in tune with current market conditions.

Each individual component of futures trading — from timing, to entry, money management, and exit — is directly affected by the person calling the shots: the trader. For this reason, personal traits and characteristics of the trader must be continually examined and developed, in order that optimal performance be accomplished and maintained.

Frederick

Morgan Hamilton asked:




While most experts would agree that giving credit cards to teens may not be the greatest idea in the world there most definitely is a viable solution in the form of prepaid cards for teens. Debit cards offer many advantages including having the ability to set spending limits while teaching youngsters how to manage their finances responsibly.

Let us first establish the difference between credit cards and prepaid cards. Credit cards, as their name implies, offers consumers a line of credit that they can tap into. The cardholder is basically borrowing from the credit card issuer agreeing to pay them back within the billing cycle or to at least make minimum monthly payments including interest until the debt is paid off.

Conversely, prepaid cards do not offer credit at all. You are actually tapping into your own money that has been deposited by you. You are allowed to access whatever funds that are available up to the amount deposited, but nothing more. Additional funds can be added at any time. There are no credit checks necessary to be approved for prepaid cards.

There are synonymous terms that people commonly refer prepaid cards for teens as including preloaded cards and debit cards for teens. These terms are usually used interchangeably to describe the same thing. Some prepaid teen cards also have parental controls that allow parents to monitor the spending activity of their children. They can also make deposits to the card as well.

Now that we have established the differences between credit cards and debit cards, let’s take a look at the similarities. Debit cards basically perform the same as credit cards as far as being able to make purchases are concerned. They can be used to buy things online, place orders over the phone and of course, purchase things in stores, restaurants, movie theaters, etc., etc.

Probably the most sought after function that teens and parents are looking for in prepaid cards is the ability for the teams to access cash through an ATM. These cards can make it very easy and convenient for the teens to do just that. It is extremely easy to add additional money to the account which makes this card ideal in case of emergencies.

There are fees involved with using prepaid cards for teens. Some cards charge an annual membership fee, while others will charge a monthly fee. There can also be nominal withdrawal fees and fees for monthly statements if you choose to have one sent to you. There are however, no inactivity fees.

Be sure that you carefully read the terms and conditions set forth by the issuer of prepaid cards for teens so you fully understand the fees, terms of service and the way it works. They do differ depending upon the issuer. Prepaid cards for teens are an excellent way to teach financial responsibility to teenagers without having to worry about going into debt or paying interest rates.

Dolores

Martin Hayne asked:




Money Management – what’s that? If this is your response to the title of this article, then either STOP trading forex until you have learnt about it or, if you are new, do not start yet! The chances are, if you trade without any Money Management rules, you will lose your capital investment faster than the time it takes to read this article!

Forex is a leveraged product, and if you over-leverage yourself, the truth is you could be staring at a ‘blown account’ in no time at all….

Therefore, it should go without saying that disciplined Money Management is an important key to not just succeeding, but surviving in Forex trading. Sadly, the temptation of riches can wreak havoc with even the most disciplined people out there! In fact, the determination to succeed and be wealthy may just be the one thing that causes a person to relax their own Money Management rules… ‘Speed up the path to the intended destination’ will be the justification in their mind!

I know it, because I personally fell foul of just that! So certain that the trade I was going to put on could go in only one direction, I calculated that if I increased my trade size for this particular trade, I could then go on and move up legitimately to a larger trade size for all future trades (by legitimately, I mean according to my Money Management rules)……. Brilliant! I’m sure this is the type of risk these successful guys take every now and again… After all, you have to take bigger risks sometimes if you want to ‘make it’! Well, I’m pretty sure I don’t have to tell you what happened next…!!

So,… here I was, now in a position where I now had to decrease the size of my future trades, to account for the huge hit I had just taken on that one trade. And not only that, to make matters worse, I exited the trade early because I did not want to take the ‘full hit’ of it reaching my pre-determined Stop Loss!

Yep! You’ve probably got the next bit too! The trade didn’t make it to my intended Stop Loss, and actually would have been a successful trade if I had followed the rules of my strategy! I had just gone down the ladder several rungs in a ‘calculated’ attempt to move myself up a few rungs. It would now take several weeks of SUCCESSFUL trading to get back to the trade size I had been taking that day…

So, the first thing I did that day to cause such a hole in my account was throw away my Money Management rules. However, that wasn’t all that followed! Through just that one act, I lost all sense of discipline, and also didn’t follow my trade strategy. By exiting early, I hadn’t given the trade a chance to succeed according to my entry and exit rules for that trade. Now, had I adhered to my money management rules, and applied my normal trade size, I would not have been concerned by the trade potentially hitting my Stop Loss, and therefore would have remained in the trade, and been in a position to record a successful outcome, and not a rather large losing one!

I tell this story not for entertainment value, but to share a lesson on how disciplined you have to be at all times in Forex Trading. My discipline here had succumbed to the emotions of greed and fear, and I paid dearly for it. What I’m telling you here is,… if you allow just one area of your trading to ‘relax’ against your predetermined Trading Rules, no matter how valid you think your reasons are, there is a very high probability you will pay the price. You will likely ‘need’ to break other rules too.

I would ask you to think about this….Your Trading Plan will have been created while in an environment of calm and rational thinking, based on information, knowledge and facts. When you are trading Forex, the environment is neither calm nor rational, and the only thing that can keep you trading calmly and rationally, is to be disciplined enough to follow the rules of your Trading Plan – and in that, Money Management will be clearly defined.

Your adherence to your Money Management rules, and the power of compounding will help move the odds of reaching your trading goals in your favour …

Remember that..

Kenneth

Andy Britnell asked:




I remember how intrigued I was when years ago, and long before I had heard of time management, I recognised the link between time and money, realising that we say that we ’spend’ or ‘invest’ both time and money, and also talk about ’saving’ time and money.

Moreover we usually find that in order to save time, we have to spend money, and vice versa. For example, to save time cooking, we might buy ready- prepared food. Our decision depends on our circumstances and priorities – someone else might well prefer to save some money and spend more time preparing and cooking a meal.

We make these choices all the time and often have no objective yardstick to show us how effective they are – unless our choices are so extreme that eventually we are totally overloaded with commitments, or on the other hand we run out of money! Constantly trying to keep a balance between spending and saving time and money demands a willingness to keep checking priorities.

This is particularly true of self-employed people starting or growing a business. It can be tempting to try and keep all costs as low as possible and do everything yourself. But this can be counter-productive when you realise just how many activities business start-up and business growth entail.

You need to think carefully about money and time management. If you can pay a specialist to do a job and thus free yourself up to do something else, that may be the better solution. Our investments in both time and money will ultimately pay off in the success of our business and the happiness of our lives. It makes sense to think carefully about the balance.

Derek