Daily Archives: September 17, 2019

Feast & Famine: What to Do with Your Money in the Financial Extremes

Especially for those new to investing, but even for those with more experience, there is one basic, fundamental question that is formidably difficult to answer: What do I do with my money?

It might seem like a simple question, but the simplicity of its wording actually hides the complexity of thought that its answer requires. Knowing what to do with your money is the central challenge of investing, and is in fact what keeps most away from investing in the first place. The financial world for many is a foreign one that looks like a minefield from afar.

While there is no easy answer to the question of where your money should be going, there is one factor that will have more influence over the answer than anything else — and that is how much money you have available.

In broad strokes, you either have a surplus or scarcity, or you don’t. Meaning that you are struggling with money, you are in an average situation, or you recently had a windfall — most people fit more or less into one of these three categories. And it is these categories that will help you determine how to invest what you have. I am going to focus more on surplus and scarcity, as there are already a wealth of articles on personal finance for those in average situations.

Surplus

There are fewer people in this category than either of the other two, for apparent reasons. Not everyone has the luxury of a surplus of cash. Whether you won the lottery, inherited money, save a large sum while serving in the military or anything else, having a large sum of money to work with puts you at an advantage, but also brings new challenges.

Cash is best used for emergency situations or short-term spending needs, such as groceries, entertainment, and so forth. Financial planners generally agree that an ideal cash savings equals 12 months of your regular monthly expenses combined.

If you are sitting on more cash than that, you’re in a great position, but are sacrificing an enormous opportunity to grow your money. In the current market, you don’t want to throw all your money into stocks or other long-term investments at once because you will be more likely to lose more of it, but you should have a long-term investment strategy planned.

Michael Kitces, a commentator on the financial-planning industry, recommends that you move portions of your cash into the market a little at a time, over a period of three, six, or even 12 months.

Scarcity

Another word for scarcity is “debt.” They are both scary words, as anyone with a substantial amount of debt knows, and certainly words that introduce doubt about the future into your life.

No one will contest that investing for the future is an important part of managing your finances, but if you are drowning it debt, it doesn’t make sense to be regularly contributing the highest amount possible to your 401(k) every month. Instead, you should be trying to wipe out your debt as quickly as possible.

J.J. Montanaro, a certified financial planner, points out that “if you make an extra payment on a credit card balance that has a 15 percent interest rate, that’s equivalent to earning a guaranteed 15 percent return on your money — a promise the stock market can’t match.” In other words, the more quickly you pay off your debt, the more you’ll save in interest, and the more you’ll have to invest later.

Of course, if it’s possible, you should make contributions to your investments where you can, making sure that you have your priorities in line. Most families are saving for retirement and for a college fund for their children at the same time; if you are struggling with money, it is always a better idea to put the college fund savings on hold, as there are numerous ways to pay for college, and very few ways to pay for retirement.

In addition to rearranging your finances, you might want to start thinking creatively about how to generate more income, and not just cutting back on expenses. Renting out a room in your house or getting a second job are great ways to help pay your debt of more quickly, so that you can get back to investing in the future.

Guest post by: Mariana Ashley is a freelance writer who particularly enjoys writing about online colleges. She loves receiving reader feedback, which can be directed to mariana.ashley031@gmail.com

Ultimate Tokyo Travel Savings Guide With Suica , Pasmo & JR Pass

If you are planning to go Tokyo, you might have heard of various types of travel cards and tickets you can purchase in Japan.

Which card you buy will depend on where you are planning to go in Japan. If you are only planning to travel within Tokyo itself buying a prepaid Suica and Pasmo is recommended as it saves you time and money as you be changing lots of trains.

Just see how complex the train station is in Tokyo alone below

Train map of Tokyo
image from https://www.tokyometro.jp/en/subwaymap/

Always Get The Suica & Pasmo Cards From Machines

Never ever buy these cards online or from website as it cost over US$20 to US$30. Compare to getting them from the station machines it cost only ¥1000 (US$9.50).

I highly recommend getting the PASMO card as you can get back your deposit when you are at the airport going back for your ¥500 with no return fee that Suica charges about ¥230.

Below is a quick overview of what the card is about, charges and instructions how to get the prepaid cards.

Steps To Buy IC Card At Narita Airport

Travel Apps To Help You Navigate In Japan

As you can see from the map about, it is impossible to navigate your journey without the help of apps as there will be times one station has over 20 over trains to choose from.

Here are some recommended navigation apps to download and use to plan your travels in Japan.

Android Apps

iOS Apps

Get JR Pass For Long Travels In Japan

The Japan Rail Pass ( JR Pass ) is useful only if you have plans to travel the whole of Japan as shown below

Here’s a quick video to explain the about the uses and what it do for JR Pass

for more information on JR Pass check out the official website here for latest pricing and outlet to buy JR Pass

You can also get your JR Pass fast and easy at our trusted partner here or click on the banner below:

 

BiggerPockets Business Podcast 21 – Reframing the Rat Race: How to Use Your Day Job to Prepare for Entrepreneurship with James Anderson of Forged Axe Throwing

BiggerPockets Business Podcast 21 – Reframing the Rat Race: How to Use Your Day Job to Prepare for Entrepreneurship with James Anderson of Forged Axe Throwing

What went into building a 7-figure axe throwing business? In this episode, James Anderson shares the skills he gained as a marketer and tour guide that he then used to bootstrap the business he co-founded, including creating buzz, split-testing, designing sys…

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EARNINGS DISCLAIMER:
This video is for educational purposes only. There is no guarantee that you will earn any money using the techniques and ideas mentioned in this video. I am not a financial advisor and anything that I say on this YouTube channel should not be seen as financial advice. Your level of success in attaining the results claimed in this video will require hard-work, experience, and knowledge. I am only sharing my biased opinion based off of speculation and my personal experience. You should always understand that with investing there is always risk. You should always do your own research before making any investment. We have taken reasonable steps to ensure that the information on this video is accurate, but we cannot represent that the website(s) mentioned in this video are free from errors. You expressly agree not to rely upon any information contained in this video.

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