Stock Market

4 Tips on investing in the stock market and earning money

4 Tips on investing in the stock market and earning money

For most individuals, being financially independent is a big challenge. As per the best financial experts, one must be totally independent financially after reaching the age of 40. If you are looking to invest in stock market shares, you need to follow certain tips. Unhealthy financial practices and emotional spending must be done away with. The below stated tips are must to know for every newbie in the stock market. By being smart and tactful, a lot many investors are making money through this general finance medium.

There are many people who simply rely on luck when they invest in shares and blame the destiny for losing money. But this is not so. Investors make some grave mistakes due to which they lose money. The person who invests without having any plan in the mind is sure to fail. Prior to investing, know your goals and try to invest on a long term basis. Think deeply whether you are saving for the retirement, to buy a home or just for meeting educational expenses of your children. The stock market is highly volatile and thus it is not wise to set short term investment goals. If you need your investment back in a few months, the stock market is not for you. Always keep in mind that the growth of your investment portfolio is reliant on the invested capital, the annual earning on the capital and the time period you can allot.

General Finance

Get to know about your own risk tolerance. Although the psychological trait is based upon the genetic factors, it is influenced by income, home background and education. Check out the degree of anxiety you experience after making an investment. If you lack risk tolerance, the stock market is again not meant for you. By knowing the risk tolerance, you can avoid the investments that make you very anxious.

Always make logical decisions when it comes to buying and selling of stocks. If you are known for making rash decisions, you will lose a lot of money in the stock market. Learn how to control your emotions and try to have a balanced mindset. The person feeling negative about the market is addressed as ‘bear’ and the one who is positive about the stocks of a company is termed as ‘bull’. The price of the securities keeps changing due to the anxiety of bulls and bears. So, when you purchase the stock, find out the reasons why you want to buy. It is mandatory to check out if the buying decision is guided by anxiety. Impulsive buying has no place in the stock exchange market.

If you have never made an investment in the market, learn about the basics. Get to know about stock market terms, metrics, techniques of stock selection and timings, the order types and various kinds of investment accounts.

Apart from the mentioned tips, there are various other golden rules to follow. Smart investors tend to diversity their investment portfolio to minimize the risk. You can buy the stocks of different companies rather than choosing anyone.…

5 Things to Do If You Lose Your Wallet

We’ve all been there.

We’ve all experienced the anxiety while trying to find our lost wallet, the frustration at not being able to, the dread of facing the consequences, and the lingering regret due to losing it in the first place. Sure, it may seem funny when you look back at it. However, losing your wallet—apart from the major inconvenience it may cause—can be financially devastating.

When you lose the wallet, you don’t just lose the cash in it. You lose half your life. From credit cards to driving license, and from insurance card to ID, all lost in an instant. The least that can happen is that you lose your valuable cash. At its worst, however, the consequences of losing your wallet may include identity theft and major fraud.

But some of the worst potential effects of losing your wallet can be avoided if you follow these 5 simple steps:

1. Determine whether it’s stolen, lost forever, or just misplaced

Before you take any steps to prevent some of the worst consequences of losing your wallet, you need to do first things first. And the first step, that many people often miss in the immediate aftermath of realizing they’ve parted company with their wallet, is to assess the situation.

Retrace your footsteps. Determine when exactly it was that you lost your wallet. If possible, try to visit all the locations you visited earlier. You might be wondering why all this is important. You really don’t want to take all the anti-theft measures like cancelling your credit cards or reporting a stolen wallet just before finding your wallet on the bedroom floor.

2. Cancel your debit and credit cards

You may have lost all the cash in your wallet but you are also at the risk of losing more money from your account if you don’t take these steps.

The first thing you should do after being sure that you’ve lost your wallet is to call the bank to cancel your ATM  and credit cards to prevent whoever found or stole your wallet from accessing your bank account or spending on your credit card.

3. File a police report

If you’re absolutely sure that your wallet was stolen, never ever hesitate to file a police report. This is one of the most important ways you can prevent identity theft.

Make sure to list everything you lost along with your wallet in the police report.

4. Don’t forget to set up fraud alerts

So now you’ve frozen your credit and debit cards and filed a report with the police. That makes you safe from identity theft, right? Absolutely wrong! Although thief can’t use your existing credit or debit cards, they can always issue new ones using your ID.

This is why it is crucial to set up fraud alerts with the any one of the 3 major credit unions: Equifax, Experian, and TransUnion.

5. Keep an eye on your credit report

While it is important to take the preliminary steps after losing your wallet, you need to keep an eye out for suspicious activity in the long run.

Not all thieves are in a hurry to go on a shopping spree after finding your wallet. Some might even sit on the information to let the danger pass before they make their move. This is why it’s important for you to review your credit report after every few months. If you find any suspicious activity, report to the authorities immediately.…