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Credit Card Debt Solutions

Credit Card Debt Solutions

Credit card debt is something which is very easy to compile but it is relatively difficult to eliminate. Credit card debt is very different from home loan or mortgage payments where the creditors have at least a tangible asset to back up their money. This is the reason why credit card debt has become extremely concerning issue among both credit card holders as well as creditors these days. Credit card debt has been paralyzing many households across the world and if the issue is not handled with diligent mind then it can put your finances on roller coaster ride. If you really wish to get out of your miserable credit card debts then you should collect some reliable information about credit card debt solutions. Here are some useful tips on how to get out of credit card debts –

Self Help Tactics

If you don’t owe much of the amount then you can talk with your bank and shift the amount to your account with lower interest rate. This will help you to lower your monthly bills. This is one of the effective credit card debt solutions which you can use to lower your interest payments. If you are in a position of making your credit card payments but you think that the balance is going out of control then check the interest rates of all the credit cards and pay one which has high interest rate attached to it.

Manage your Credit Card transactions

Stop making any new purchases on your credit card. Paying in cash will make you aware of your spending habits and you will able to spend within budget rather than tempted by splurge. Most of the times, even a best deal turns out into a high value purchase by the time you pay several months of interest on it. If possible, try to make your credit card payments in early time instead of waiting till the final due date. This will help you to save significant amount of interest and lower the chances of incurring any excessive credit card debt.

Selection of perfect credit card solution

Customers searching for credit card debt solutions have diverse options from debt consolidation loan to balance transfer. They can even seek advice from any debt relief company if the debt is too high to resolve on their own. No matter what credit card debt solution you choose, it is extremely essential to check credentials of debt relief company you are planning to work with. If you are considering any debt settlement plan then consult a company which provides diverse credit card debt solutions and not just a conventional type of plan.

Balance Transfers

Most of the people opt to consolidate their all debts by transferring balances from several credit cards into one. This can be an effective strategy, but you have to be extra careful. Most of the credit card companies charge more than 4 % for balance transfers. Apart from this, many companies appear as they are strongly supporting credit debt relief and discount transfer fees during initial transfers. You can utilize the strategy of balance transfer to manage your debt effectively, but make sure you read all the terms and conditions properly.

Late Payments

Apart from varying interest rates as a part of introductory periods, you must be aware of changes in payment rates in case of late payment. In a particular month you will get so busy that you find yourself not meeting your payment deadlines. It may create very strong impact on your credit card payments. Most of the times, consumers find themselves in absolute financial jeopardy as their credit card interest rates get skyrocketed because of late payments.

Teaser Rates

You must be getting emails from several credit card companies offering you attractive interest rates on credit cards. Most of times, credit card companies promote loan plans by providing you higher interest rates which are also referred as ‘Teaser’ rates. That’s the reason why it is extremely essential for you to figure out what the annual percentage rate would be after your introductory period will get over. Credit card companies want to run their businesses in profitable way and though their attitude towards you is always helpful, you have to identify things important which they are not explaining you.

Debt Management Plan (DMP)

In Debt Management Plan, you can pay affordable monthly payment to DMP provider in order to cover your credit cards. The DMP provider does some negotiation with credit card company on behalf of you and distributes payment in appropriate proportion. The single monthly payment makes easier for consumer to manage his debts in effective way. Some other benefits of DMP include reduced late fees, lower interest rates and less time consuming process to manage your credit card debts.

Debt Settlement Plan (DSP)

In Debt Settlement Plan, you have to make monthly payment which you can afford to DSP provider. The amount will be held in escrow when they negotiate a modified settlement amount with credit card companies. Once an agreement has been made, the funds will be released from your escrow account and you have to pay only certain portion of your overall debts. However, one important thing a credit card holder must understand that DSP may create a negative influence on his credit as compared to DMP.

Conclusion

Credit card can be a great convenience for anyone but most of the people end up incurring too much of debt on it as they fail to utilize it in effective way. Getting out of credit card debt is not as easy as getting into it, but it can be achieved through proper planning. There is no magic wand which can resolve your credit card debts overnight. But with consistent efforts, you can definitely set yourself on a way to achieve safer financial future. By taking into consideration above mentioned tactics, you can definitely manage your credit debts in effective way. Above mentioned credit card debt solutions have produced successful results for many credit card holders and you can also utilize these tactics to live comfortable and debt-free life.






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Trade exit – Pitney Bowes Inc. (PBI) put selling – 1.07% gain

Trade exit – Pitney Bowes Inc. (PBI) put selling - 1.07% gain

I was no longer comfortable with Pitney Bowes (PBI) stock and thus earlier I changed my mind on this trade. Originally, I was OK to hold this stock in my portfolio in case I get assigned, but after 50% dividend cut the rules changed.

For this reason I decided to take advantage of Pitney’s somewhat good results which boosted the stock up and close my put selling position. I think this boost of the price may have a short life and I bought back the put contract:

08/01/2013 10:56:55 Bought 1 PBI Jan 18 2014 12.0 Put @ 0.3

This closes the trade with 1.07% gain after commissions (with $12.88 cash gain) or 2.80% annualized gain. It could have been better, but I wasn’t willing to hold my maintenance cash tied to this stock. Well, still better than a loss.






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Dividend investing boost with Scottrade


ScottradeWhen I read about Flexible Dividend Reinvestment tool on Dividend Growth Machine blog being adopted by Scottrade, I thought that this was a great idea. Yesterday, I looked at my Scottrade account and found a link to this program already available and I decided to give it a shot.

If you have an account with Scottrade or plan on opening one, I recommend you to give it a consideration.

The program’s benefits

The program is similar to a classical DRIP program which is provided by many brokers, but there is one significant difference. A typical DRIP system normally takes all dividend income from a stock which generated the dividend and invests it back to the same stock.

The Scottrade’s program takes a different approach. It allows you to include all your eligible stocks, include them into a program and use their dividends to accumulate other stock holding, a different one from those which generated the income.

Here is an example:

Currently I hold only three stocks in my Scottrade account: AGNC, FGP, and PSEC. I could include all three stocks into the program and use the dividends these stocks generate to be reinvested into only one stock. In my account it is PSEC. So as AGNC, FGP and even PSEC pay the dividends, all those dividends will be used to purchase my PSEC holdings.

Once I accumulate enough of PSEC, I can change the distribution of the dividends to another stock, for example AGNC. Or I can distribute dividends equally into all of my holdings. In my example, 33% will go to purchase AGNC, 33% to purchase FGP and 34% to purchase PSEC.

You can play with the distribution as you need and change it any time should your priorities change. You can also select a monthly or quarterly frequency of reinvesting.

See the picture below how such distribution looks like:

Scottrade FDRIP

Click to enlarge

On the picture above you can see in the “Program settings” that I have chosen all three stocks to contribute towards the Flexible Reinvestment Program, but then I elected that 100% of accumulated dividends will be invested in PSEC. At the bottom I chose Quarterly reinvestment frequency. At the end of October the dividends are planned to be reinvested into PSEC. I will not have enough saved in the program however, there fore this investment will skip.

I found the program quite appealing to me for this reason, that if you have a small account, you can use a power of all your dividends to purchase more shares of one stock. It is a great boost and the holding growth of your portfolio will be faster.

What’s not so good?

There is one thing which makes the program slightly inefficient. The typical DRIP will allow you purchasing fractions of your stock. Scottrade’s program doesn’t allow it. It will accumulate the dividends as long as you have enough cash in the account to purchase at least one share.

In my example I elected PSEC to be bought using this program because PSEC currently trades at around $11 a share. Thus every quarter I will be able to purchase at least 3 stocks (my current quarterly dividend income is at around 36 dollars). AGNC or FGP at their current prices would allow me only 1 share every quarter. With PSEC, the holding growth would be faster.

Although waiting for accumulating enough cash may look like a negative thing, it still is minor to me to kill the entire program.

And what is absolutely best?

The best thing with the Flexible Dividend Reinvestment tool is that the program is absolutely free and reinvesting will cost you nothing. I would say, that this program is a very valid and appealing and I must say: Scottrade – bravo!






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Diversify Your Investment

Diversify Your Investment
This is a guest post by Jeremias. He introduced himself.
My knowledge regarding stocks or investments I would say is quite on the average compared to people on the same age as I am, 15 years old. My parents introduced me to mutual funds when I was seven years old and I place money there on a yearly basis. I have quite saved a large amount of money ( for me), but I intend to use it at my senior years.
For me it is impressive, and I am happy, to meet a young man like Jeremias who is interested in saving and investing cash in such young age. I believe, if he continues educating himself in investing, he will be able to retire early. Very early.

 

My mother always reminds me on decision-makings that I always have a choice. That is absolutely true. In any situation you are in, you always have a choice. So, in relation to investments, you also have other options of investment. Investment does not only circulate on stocks and mutual funds. There are other ways and some of them may be in the form of material things. Some good examples would be land properties, vehicles, and computers.

Acquiring land properties is the best option if one wishes to diversify in investments. Aside from the fact that one can earn money from them, they never diminish even if it takes eternity. Of course, this is true as long as the landowner pays his/her taxes for ownership. The greatest thing with land ownership is that through time, the property’s value increases. This is due to the high development of the surrounding areas. Therefore, by the time the owner sells his/her property, its value is a lot higher compared to when he/she bought the property. In addition, the owner may develop his/her property buy building something and have it rented by other people. This way, the owner has secure money on his/her pocket on a regular basis. Places to stay are highly in demand nowadays since the human population increases rapidly. Moreover, people have increased their entrepreneurship skills, thus, many are interested on having a store. A landowner may offer his/her property to become a store stall for rent.

Development of land properties are among the common options great investors put their money on. This is also known as real estate. Development companies buy vast land, improve the area, and transform it into subdivisions, condominiums, or parks with stores around. Then they sell the lots alone or with houses on it to individuals who look for a place to stay on subdivisions. This also applies to condominiums. Parks with store stalls around them are ideal places for business. It is a good leisure place for people, at the same time, the entrepreneurs who rents the stalls earn money.

Vehicles may also be an option for investment. A person may buy many vehicles and have it rented by people. It could be turned into a taxi business or a school service business. This is ideal because transportation has a major role in people’s everyday lives. Another good renting business is on computers. Almost everybody communicates to the world through computers. The same concept with vehicles may be applied to computers. People rent the use of a unit and pay for the number of hours they used it.

These are only some of the possible options for investment. There are still lots of them waiting to be unraveled and explored. Even the little things one sees is a possible option for investment. One only needs to visualize and think of different possibilities. Always remember that great things have small beginnings.






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New Trade – Realty Income Inc (O) covered call

New Trade - Realty Income Inc (O) covered call

I decided to take a partial return covered call trade on Realty Income stock I already hold in my portfolio. If you follow my blog for some time, you may know that I distinguish between the two covered call trades: a total return and partial return.

Total Return Covered Call

The total return covered call is a trade also called “buy-write” where you buy a stock (usually 100 shares or multiples of 100) and at the same time you sell a call option contract. Your expectation is to get called away at expiration and collect a defined gain on the stock plus premium. You have a gain on the stock and on the option contract.

Partial Return Covered Call

On the other hand, the partial return covered call is a contract, where you sell a covered call against a position you already hold in your account to generate income. Your goal is to collect premium only and keep the stock at expiration. Thus you do not want your stock to be called away at expiration.

This is why I like selling total return covered calls over partial returns because I do not want my core portfolio holdings to be called away.

However, I wanted to give it a try and see the outcome.

Realty Income Partial Return Covered Call

Today, I sold 1 covered call contract against the my core holding and there will be three outcomes:

  1. The stock ends below the strike price of the option at expiration and the option will expire worthless.
    If that happens, I will keep the stock and consider selling another covered call contract.
  2. The stock ends up above the strike price and option will get exercised at expiration.
    If that happens, I will either roll the covered call higher and further away in time, close the contract, or let the stock being assigned and immediately repurchase it back.
  3. I can get early assignment and the stock gets called away prior to expiration.
    This typically happens when options get In-the-Money (ITM) or deep in the money and the premium cost to buy the contract back is lower than the dividend payout. In this particular trade the premium is worth almost 9 times more than the dividend payout, so early assignment is very unlikely. If that however happens, I will lose the dividend, but overall gain would be significantly higher so I can immediately repurchase the stock and still make good money.

And here is the trade details:

07/29/2013 14:30:51 Sold 1 O Aug 17 2013 45.0 Call @ 0.41

If the stock stays flat and the option expires worthless I’ll keep the premium and realize 0.7% gain or 13.21% annualized gain.
If I get called away I will realize 8% return ($331.21 net gain) or 374.5% annualized return.

How do you trade covered calls? Do you trade them at all? If you trade covered calls, do you trade them against stocks you already own or do you trade buy-write, total return trades?

 






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Posted by Guest July 28, 2013
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Marketing Strategy for Starters

Marketing Strategy for Starters
This is a guest post by Jeremias. He introduced himself.
My knowledge regarding stocks or investments I would say is quite on the average compared to people on the same age as I am, 15 years old. My parents introduced me to mutual funds when I was seven years old and I place money there on a yearly basis. I have quite saved a large amount of money ( for me), but I intend to use it at my senior years.
For me it is impressive, and I am happy, to meet a young man like Jeremias who is interested in saving and investing cash in such young age. I believe, if he continues educating himself in investing, he will be able to retire early. Very early.

 

“No, because customers don’t know what they want until we’ve shown them.” 

Steve Jobs

This was the response of a former CEO of Apple, in one of his conversations with his employee. He was asked if he wanted to do market research. It is actually a great idea a company must have. One must have the vision to create things unique and futuristic. Moreover, one must put itself on the shoes of the consumers in order to understand what are the possible needs or wants of the consumers.

People love unique things. The common examples for such are computers, television, and songs. If such would look or sound weird, people get interested with how unique or weird these things may be. Even if it were weird, it would stick to people’s minds because it is the only existing product in this world. Moreover, if they see that such thing has great quality and would be very functional in the future, they would be very willing to buy it. In addition, people want to buy things unique because there are those that feel they are privileged to have the capability to buy such things.

apple_bite2A company must have a great vision of the future. This tells one what to create and do with their products. In addition, the companies who can create futuristic products often acquire the capability to dictate what products must be in the future that consumers must buy. Consumers love advanced products because these products are those that are highly capable of doing many things. They are those that are easy to use and very efficient at home or at work. People want to buy things that would make life easier for them. This has, of course, good and bad implications on the lifestyle of the people. People might get lazy to do things and often choose the easy way out on problems. On the other hand, people’s work becomes more efficient and many perform better with the use of such products.

The pricing of products is very critical in marketing those that are produced by many competing companies. A consumer would rather buy a product that is of the same quality but at a more affordable price compared to that of the other companies. Moreover, consumers have become more intelligent and meticulous with buying products nowadays. They have more knowledge if products are on the right pricing for its quality. In addition, many have set specifications for the product the wish to buy.

These are not the only considerations in marketing. A company must not forget one last important aspect in marketing products, service. Consumers want to be treated the best. Everyone wants a king or queen’s type of treatment. They also want to have their problems or concerns with the products answered immediately. Good service is something that builds the popularity of the products and the name of the company. If the company has good customer service, then the consumers would definitely want to buy products from that company. People would recommend the product or the company itself for great service.

These are only some of the basic knowledge people must know regarding marketing. There are still a lot to learn and the best way to do so is by first-hand experience and observation. Companies must remember that at the end of the day, the consumers have the power to judge how effective the marketing strategy of the company is. Visualize, Experiment, Innovate!






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Posted by Martin July 28, 2013
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My inspiration in the last week #30

My inspiration in the last week #30

I often browse the internet to find ideas about investing, trading stocks, options, investing opportunities and strategies. I like to read about investors and what their investing/trading approach to create income you can live on is.

 






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Quality Determines What It Is

Quality Determines What It Is
This is a guest post by Jeremias. He introduced himself.
My knowledge regarding stocks or investments I would say is quite on the average compared to people on the same age as I am, 15 years old. My parents introduced me to mutual funds when I was seven years old and I place money there on a yearly basis. I have quite saved a large amount of money ( for me), but I intend to use it at my senior years.
For me it is impressive, and I am happy, to meet a young man like Jeremias who is interested in saving and investing cash in such young age. I believe, if he continues educating himself in investing, he will be able to retire early. Very early.

In the field of marketing, there are so many things to consider, but of all these who is the most significant? It is the quality of the product; or better yet, its contents. The consumers consider this the most significant because it would be their sole reason for choosing the product. Aesthetics or looks could be deceiving but what would be the product of use when it has the least functionality. Others might say that the price should be the first in consideration. Well, they are wrong. A product may be cheap or too expensive but its features may only be a waste of time and money.

For consumers, the quality of the product is not only limited to its lifespan and functionality, it is of course concerned with the safety of its consumers. One may disregard the other concerns for the products quality but never its safety. As the saying goes, health is wealth. The product may be returned to the company and replaced for a better one, but when the consumer’s health is the one that is affected, it is irreplaceable and irreversible. Also, spending cash on safe and efficient products is a lot cheaper than having to go to a hospital to get treated for an illness a product caused.

Quality defines the company. Before any company got their name on the top, they have been establishing their quality through years. And by this concept, we mean that by merely spreading the news to their friends or acquaintances, the company becomes popular. When something is popular, people tend to be interested about it. Better yet, more people purchase products of the company to confirm for themselves the news they heard. Also, the name of the product become the generic term for all similar products like the toothpaste. When people go to stores they would sometimes say, “May I buy one Colgate.”, where in fact, the person is pointing at another brand of toothpaste. Not only does quality define companies, but it is also something one competes for.  Companies continue improving the quality of their product to invite more consumers.This gives the consumers the power to choose the best. Once the company has established the quality of their products, consumers would not only demand for the quality of their product but also the quantity, the consumers can avail.

In marketing, having quality product means everything. It does not only provide the company strength and money but also power amongst their rivals. The consumers on the other hand, has the ability to manipulate the quality of the product according to their needs and desires. You, as a consumer have the power to do this!






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How to Manage Your Investments

How to Manage Your Investments

Most of the people believe that they are very good in managing their finances. Financial experts also claim that when they ask their customers, many of them think that they have made their investments in effective way. This is mainly because they have been getting decent returns from whatever investments they have made. But many investors fail to understand that situations don’t remain same always. It is only when financial emergency occurs then investors will realize that whatever ‘profitable’ investment decisions they have taken were actually a wrong choices. Go through following list of tactics to know about how to manage your investments and finances in most effective way –

Hope for the Best, Prepare for the Worst

The first and foremost think an investor must understand is that financial crisis can arise at any time and it is difficult to foresee it in prior time. The best thing you can do is to prepare yourself for any worst scenario and reduce the influence it can create on your finances, when such a financial crisis occurs.

Analyze your credit card spending pattern

One more important thing you should do is to review your pattern of credit card spending regularly. Most of time people end up paying more than their financial capabilities because of leverage they can avail through credit cards. This means they don’t know where the money is actually going as they don’t track their spending. If this has ever happened with you then it is best time to review your credit card spending habits.

Identify your financial goal

In order to manage your investment and finances effectively, you must identify your financial goals at right time. The process will require proper planning and you should aware of the objective behind your investments. Having so many goals in the mind will lead you nowhere in long term. Financial goals revolve around your income, resources, spending habit and how much money you wish to earn. If your financial priorities are clear and if you split them into short term milestones, then achieving your long term financial goal will be very easy.

Consider your family members

You family members play great role in managing your finances and investments in long term. Once you have finalized about all the strategies to manage your investments, you should convey all the things to your family members in order make them feel that they are financially safe. This will also help you to take some major financial decisions with their support and co-operation. Sometimes you may have to modify your monthly financial budget and it is completely impossible without their proper support.

Understand financial jargons and terminologies

On your endeavourer of becoming a successful investor, you may have to consider different investment products like stocks, commodity, insurance, government bonds and fixed deposit. In order to understand how these products work, you may have to make yourself acquainted with some typical financial terminologies and jargons. Once you get hold of a financial glossary, it will become very easy for you to understand how the investment products exactly work.

Track your monthly budget

Budget analysis is one of the key things an investor must consider in order to manage his finances properly. Try to save some amount every month from your budget which you can contribute to your investments to multiply your money in long term. Cutting your monthly budget doesn’t mean you should not enjoy luxuries and comforts of the life. But the important thing is that you should not squander your money without any purpose.

Diversify your investments

It is always said that ‘Don’t put all your eggs in one basket’. The similar principle applies to investment as well. You should always consider different investment avenues such as stocks, mutual funds, government bonds and commodities. However the selection of these products entirely depends upon your risk taking ability and your waiting period. Once you have decided on your final portfolio, the important step you have to take is to synchronize it with your current investments. One of the effective ways to achieve this is through exchange traded funds or investment funds such as unit trusts. These funds are extremely cost effective and they let you to spread the risk in all the investment avenues equally.

Re-balance investment portfolio regularly

Another important thing you should consider is to rebalance and reassess your investment portfolio regularly. Rebalancing is nothing but a technique of bringing your entire portfolio back to its initial asset allocation. This is mainly recommended when one of your investment assets such as equity or stocks grow faster than other assets of your portfolio.

Age factor

Remember that investment strategies vary from person to person depending upon the age of investor and market environment. For example, young investors should prefer long term investing options such as mutual funds, shares, stocks or commodities, while old people must opt for debt products or highly liquid investment avenues. Considering age and risk taking ability of investor, you must allocate proper weightage to different investment products.

Time span of investment

It refers to the time duration for which you want to keep your money invested in particular product. The time span of your investment depends upon many different factors such as market fluctuation, financial emergency and your financial goal. You can consider short, medium or long term investment avenues depending upon your investment objective.

Seek professional advice

If you wish to earn some additional profits by investing in strategic way then you must seek an advice from financial expert to figure out best financial management tools. Your financial advisor will also keep you away from all the risks and major complications involved in the investment management process.

Conclusion

Investment making and financial management are dynamic processes and that’s why you should always remain open to some innovative ideas. Managing your investment and finances is not a complicated process but if you focus on your long term goals properly, you can definitely find out the right track to success.

One of the most vital things you should consider is to manage your investments like a business. Your every investment decision should be backed by proper planning and right strategy. If you follow effective strategies armed with decent financial knowledge and resources then you will be surprised to know that money can’t be in better hands than your own.






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Save Up Money For Something Great

Save Up Money For Something Great
This is a guest post by Jeremias. He introduced himself.
My knowledge regarding stocks or investments I would say is quite on the average compared to people on the same age as I am, 15 years old. My parents introduced me to mutual funds when I was seven years old and I place money there on a yearly basis. I have quite saved a large amount of money ( for me), but I intend to use it at my senior years.
For me it is impressive, and I am happy, to meet a young man like Jeremias who is interested in saving and investing cash in such young age. I believe, if he continues educating himself in investing, he will be able to retire early. Very early.

 
 

Money, such a small thing made up of different natural materials that is so much valued in this world. People use it to get their needs and wants in life. It is so much important that without it, living in this world would be so much difficult. So how do they earn money? They work and save up their money. Furthermore, many people have knowledge on investments, which is so much helpful in the development of one’s finances.

What are the tricks multimillionaires do to acquire such big amounts of money? They actually do not have any tricks. What they have are discipline, patience, and strategy. Multimillionaires are good strategists of money. This idea often applies to investments, but we are not going to discuss it here.  In this article, we are going to talk about personal finance in terms of saving.

Discipline is the most essential idea one must understand to have more money. A person must know how to determine what are important and not and what are efficient and not. When a person learns how to determine things, he/she will be able to distinguish his/her needs and wants. It is the “wants” of a person that causes his/her own savings to diminish easily. With this reality, the only solution to have and sustain a great amount of money is to control self-desires. I am not saying that the person must no longer buy the things he/she wants in life, rather, purchase in moderation. Another thing, as mentioned earlier, the efficiency of the product is important. By efficiency, we mean that the product is good, at the same time it is not expensive. The consumer must be good in decision making for his/her money not to be put in waste by low quality products or over priced products.

One strategy I have been doing since I was a kid in order to save money was not to buy lots of food in the canteen. First, foods, once consumed, can no longer be used in the future. In addition, the foods people often want are those that taste good but have bad effects on the health of a person in long terms. Another tip in saving money is to stick to your goal. Everyone has his/her own reason for saving money, may it be to purchase an expensive thing or in preparation for his/her own life in the future. Whenever you want to use the money you saved up for your goal, always weigh things. Think of what is more important at that very moment, to purchase the thing you saw or to save your money for the goal you have set yourself. But, the best method to save up money is by having a piggy bank. With it, you are forced not to use the money you placed. Furthermore, it would be better if you place money on a regular basis even at any amount.

Patience is another essential idea in personal finance. Earning money and saving it to increase in amount does not take overnight. It takes a lot of patience to achieve the goal of attaining a great amount of money. One must learn how to wait and make proper timings. One good example would be placing money into a piggy bank on a regular basis to save up on a computer. Then a sale occurs and the computer you want is on sale by a large discount and you have saved more than its sale price. This is the best time to purchase the item you wish on the price you can afford.

Those are some simple ways on how to save up money for a goal. However, remember to use this goal only as a motivation to become better and not for the purpose of desperation of things. Let us remember that money and things are not the most important things we can acquire in life. Love, Friendship, and knowledge are more important in life than having lots of money. Money is only an incentive of the three. One ideology one must remember is a line in the Indian movie, The Three Idiots. It says, “Chase excellence and success will follow.

 






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