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.

How to Secure the Future of Your Child with Special Needs

If you have a child who is differently abled, you will agree that leaving your child with no financial support in the future is very daunting. Believe it or not, you can prevent this from happening by securing a special needs fund for your child as early as now. Because a child with special needs may be disqualified for public benefits, the aim of this type of trust fund is to give a convenient lifestyle to them without limiting their access to all available benefits. Generally, the creation of this fund is structured to supplement any assistance the government may provide concerned children in terms of clothing, food and shelter. The four important components of this trust fund are the asset, the beneficiary, the trustee and the purpose. The asset is the special needs resources that will be placed in a trust. The beneficiary is the concerned child while the trustee is someone who will be in charge of the disbursement of the funds. Meanwhile, the purpose serves as th...

Drawdown Dangers – What It Means To Traders

Drawdown is a word that is feared and hated by every trader, but it is an inevitable part of playing the markets. It is simply how much your account loses from its peak. Suppose you start with $10,000 in your account, and after a succession of losses the account goes down to $7000. That means you have lost $3000, or 30% of the original starting $10,000, and therefore your drawdown is 30%. Drawdown is relative to where your account peaks, so say you had a good run and built the account up to $12,000, then lost $3000 again, bringing it down to $9000. Your drawdown this time would be $3000 from $12,000, or 25%. Maximum drawdown corresponds to the lowest your account ever hits. Sometimes you will see trading strategies detailing how much maximum drawdown is expected to be when using them – usually the more risky strategies will anticipate a greater drawdown while expecting a higher profit on average. Drawdown is particularly dangerous because, the way statistics work, you ...

Helpful Insights On Getting Out Of Debt Today

Getting out of debt is a dilemma confronting most singles and couples today. According to a number of surveys, the varied technological advancements make it easy for people to incur debts. The latest gadgets emerging left and right encourage consumers to spend even though they do not have money at hand. Also, the internet prods consumers to purchase on impulse with just one click on the shop online button. While there is a grain of truth in both ideas, having financial liabilities is oftentimes a matter of personal choice. There are, of course, exemptions to this. A clear example of such exemptions is debt incurred due to sudden mishaps. Getting out of debt is doable. However, erasing all your debts may take longer than the time you spent gaining them. A firm decision to be debt-free is the best way to start. With that, you must also decide to stop acquiring expenses that can lead to additional liabilities. Do you have a credit card? At this point, you probably know what to do wit...

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