Frugal Or Miser - Which Of The Two Are You?

There is definitely a difference between a frugal and a miser. However, the line that separates them could be very thin. In this post, I will try to point out the clear distinction between the two.

Misers are branded as stingy by many. Stingy people have money which they do not want to spend for fear of losing all of it. Usually, this results from unwanted pains of previous financial difficulties. People who are plagued of such thinking deny themselves not only of the things they want but also need. Additionally, guilt is another thing which causes people to be misers.

There are some who feel guilty about having more than enough when their relatives and friends are suffering. In order to ease the guilt feeling, they simply do not touch their money.

The frugal, on the other hand, are known for their great money management skills. Unlike the miser, the frugal spend but they spend wisely. Also, they choose to make wise investments to earn more money which they can enjoy to save and spend at the same time. If you think that they do not have debts, you are very much right on that. This is because they are good in matching their finances with their goals and they do not compete against other people in terms of their possessions.

All You need to Know About Borrowing Money from Family

Borrowing money from family and friends can be a perfect solution, but be sure to look at the pros and cons of this approach. Before you join the bandwagon, review first this short list of its advantages and disadvantages. The Pros Flexible Terms: Unlike other forms of traditional finance, funding from family and friends is typically offered on flexible terms. Friends and family may agree to a longer repayment period and may seek a lower rate of return than traditional lenders. On a practical level, little or no security is required and the repayment can be tailored to your financial projections. Minimal charges: One of the greatest advantages of borrowing money from friends and family is that the funds are offered at little or no interest. As a start-up or loss-making company, the interest rate charged by traditional lenders can be very high. Easy to set-up: On a personal level, the family member or friend already knows your ethos and business circumstance and so are less likely

How to Free Yourself from the 'I'm Poor' Mentality

Financial fears prevent you from taking financial risks, accepting new opportunities and making monetary decisions. They interfere with your financial security and freedom and hold you back from achieving financial success throughout your life. Start Saving Early - You might have to live paycheck-to-paycheck when you start your career. However, you can start saving a small amount of money every month and put it in your savings account. Come out from the Fear of Debt - While it may seem impossible to resolve all your debts, you can grow a large savings to cover your unexpected expenses and put down more cash while borrowing. Look for Affordable Housing Options - Go for smaller and affordable housing options so that you have enough funds to cover other expenses. Grow a savings and diversify your investment to afford a house. Build an Emergency Fund - You can overcome your fear of losing your job by building an emergency fund. You should save 6-8 months of earnings in your em

Successful Trading Guideline: Effective Rules To Follow

While loss is part and parcel of the risks that comes with trading, it can be reduced to a minimum and make investments manageable. No matter how big your trading account is it can be managed well if you have a reliable set of rules to follow. These rules are usually included in a trading plan. A trading plan tells you when to enter, exit and manage your investments.You can create your own plan by getting ideas from other traders. To see how it is going to work, you can do some backtesting before spending real money. Besides following your plan up to the T, it is also important to treat trading as a business and not just a hobby. Thus, you must put your mind and heart into it. Spending less effort and time on it can take all your investment down in the drain. Think of yourself as a business owner. Ask yourself every time what a business owner must do to keep his company thriving and so that your efforts wouldn't go off the track. As you need to be focused on your trading, utiliz

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