Money Questions and Answers

20 Up-and-Comers to Watch in the Stockbroking Industry

by Jeremy

Stockbroking involves the buying and selling of stocks and other securities for both institutional and retail clients. Over the years the brokerage industry has advanced since brokers not only compete by relationship, service and price, they also compete regarding commission and the quality of duty.

There are many companies at the top of the brokerage industry like CMC markets, but there are many more still fighting for their fair share of the top ranks in the brokerage industry.

National Bank Direct Brokerage is a company to watch out for since it has decided to improve it services and approach and most especially ensuring investor satisfaction. NBDB decided to get serious and stop the motions. It has an online advice support called InvestCube and also provides an all-round service for DIY investors. NBDB has decided to up its game and should be watched out for.

TD Direct Investing is also among 20 up and comers in the brokerage industry since it has managed to iron out its flaws by providing account reporting tool and has also managed to modernize its website this is a strategy to attract more clients, and therefore it is upcoming in the industry.

Raymond James Financial, which was also not doing well, has decided to come up and improve diversification, therefore, reducing investment risk.

eOption is also coming up in its respect as it offers lower commissions hence making trading cost effective. It has also enhanced the front end of its platform to make it more user-friendly and client efficient.

Capital One Sharebuilder is also a company to look out for as it has improved its services through adding features that enable the client to understand their portfolio.

Wells trade is also working to be at the top as it provided personalized service to its customers, with online and mobile support. Also, there is no minimum balance to establish an account hence its attractive to clients. Therefore, this will help in making it climb the ladder.

LPL Financial was not doing so well as of 2015 final quarter. Hence it has drawn it energy towards improving operation and capital plans; through introducing multi-client portfolios designed to improve efficiency and save time.

BMO Investorline is another superior firm that has not been leading since 2005 but is working towards adding commission-free trading of exchange trade funds as its strategy to be at the top.

FirstTrade is also back eyeing for the top ranks as it has improved its services by introducing a mobile application provide better services to clients and a more interactive site like translation to Chinese.

Should I Get a Small Business Loan?

by Hank Coleman

Should you get a small business loan? Each business is unique. So, there’s no single, universal answer to this common concern. However, we can examine some important questions, whose answers can help you make the best decision for your situation.

What is a Small Business Loan?

A small business loan works just like personal credit, only it’s intended to help you grow your business. For a new business, you will still personally guarantee the loan, but you will have to qualify based on your business’s health and your ability to demonstrate how the money will make your business more profitable and stable.

Though they are conceptually similar to personal loans, you can expect to see a few differences with small business loans:

You can get a small business loan for far more money than for most personal loans short of a mortgage
You may pay more interest, and possibly higher fees, than you would for a comparable personal loan
The application process can sometimes be more detailed and time-consuming

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How Can I Use a Small Business Loan?

Don’t think of small business loans as a credit card, which you use for convenience or to buy something today that you can’t really afford until tomorrow. Think of small business loans like student loans: specific investments that will make you more money than you paid in interest once you’ve leveraged what you buy.

By making this kind of investment, you can make more money sooner. This process can help you grow your business’ profits and income. In comparison, a small business loan is much like a student loan.

You borrow and spend the money during college so your salary post-graduation is high enough to justify the expense and interest. With a small business loan, you borrow and spend the money one year to make more money moving forward through the next several years.

Top 5 Cheap Cruise Tips for Your Next Summer Adventure

by Hank Coleman

Cheap Cruise Tips for Your Summer Sky’s the limit when it comes to summer vacation ideas. If you’re looking for an affordable yet exotic trip for the upcoming warmer months, then you can’t go wrong with a cruise! Not sure if/how you’ll be able to afford it? These cheap cruise tips lay out everything you need to know to minimize your vacation expenses while maximizing fun while sailing the seven seas!

Cheap Cruise Tips for Your Summer

Compare Cruise Prices

As with airfare, accommodations, and other aspects of travel, comparing your different options in terms of amenities and pricing is a crucial first step to saving money on your summer vacation and is an important cruise tip. All too often, folks rely solely on their preferred travel agency or cruise booking website without looking elsewhere for better options.

To avoid getting a so-so deal instead of the best deal possible, Cruise Compete and Cruise Critic’s comparison tool can help you search through multiple booking agencies and websites’ listings. The sites lay out all your possible options before deciding which cruise is right for your budget and vacation preferences. You can also check Priceline for deals!

If you’re cruising alone, you may have a bit more researching to do to avoid a huge single supplement on your cruise cabin because although more cruises are becoming solo-traveler friendly. The surcharge for a single-occupancy cabin remains a popular industry tactic for buffering their bottom lines.

When you compare cruises however, you might find some that offer studio-style cabins built specifically for folks traveling on their own. Or, you might find cruises offering reduced rates for solo travelers. Save up to $500 with a flight+hotel Vacation Package!

Find Onboard Credit Specials

According to Cruise Critic, onboard credits are basically free money that you can spend on everything from special dining options to onshore tour excursions. Even all-inclusive cruises may be missing a few luxurious add-ons here and there.

You may want to look for a day tour around the port city, unlimited drinks coupon, salon and spa package, etc. And, onboard credits can help you pay for extra services that aren’t already included in your cruise package.

Most online cruise offers include a small amount of onboard credits – e.g., $100 in credits when you book through a particular website, $250 in credits when you upgrade before departure, or $200 in credits for booking a cruise line you’ve sailed with previously.

But, you can score more onboard credits by signing up for the cruise line’s e-newsletter or loyalty program. You can also earn rewards for referring friends or family to your favorite cruise line too. For example, Royal Caribbean gives out onboard credits for everything from referrals and future bookings to joining the Royal Caribbean’s loyalty program, the Crown and Anchor Society.

Onboard credits are treated like a special credit card that you can use for most purchases of goods and services during your cruise adventure. Finding these deals before booking can mean the difference between a bare bones cruise with minimal amenities and a top-notch cruise trip with extraordinary services offered while you’re at sea.

Have you gone on a cruise lately? What are your best cruise tips in order to save money at sea?Click To Tweet

Digit Review – How To Easily Save Money On Your Smartphone Without Realizing

by Hank Coleman

Easily Save Money On Your Smartphone By Texting With Digit

What is Digit? I’ve been obsessed with Digit, the money saving app and website, ever since early last year when I heard about it from my buddy J. Money over a Budgets Are Sexy. I’m always looking for cool and interesting ways to trick myself into saving money. And, when I heard about Digit, I just had to try it out for myself.

I’ve been saving money through Digit for the past year, and now I’m starting to have friends and relatives ask questions about the money saving smartphone app and the service that Digit provides. So, I figured that I should just let everyone know about the great experience that I’ve had with Digit so far during my 15+ months of trying the service out.

What is Digit? Save Money On Your Smartphone With Digit

I’m a huge fan of Digit, and I use the service everyday to help save money without me even knowing it. I highly recommend everyone checking Digit out.

What Is Digit?

Digit is a free smartphone app and financial service that evaluates your spending habits, transfers money to a savings account from your checking, and helps you save money without even letting you realize that’s what’s going on. It’s often seamless and transparent to you.

After you link your checking account to the app, Digit studies your day-to-day spending habits. The service looks for areas and opportunities where it can save pennies or a few dollars every two or three days where you won’t even notice the amounts coming out of your checking account and moved into your Digit savings account.

Digit watches several attributes of your checking account. The service looks at your checking account balance, upcoming deposits that have been historically made in the past, any upcoming bills you might have, and your recent spending patterns. These are the factors the app looks at when deciding how much money to squirrel away for you every few days.

Digit’s algorithm determines a nonessential amount of money that you won’t notice the app moving from your checking account to a Digit savings account. The amount is based on how much you’ve earned as well as spent in the past.

Digit’s savings accounts are insured like regular brick and mortar banks with FDIC insurance for account balances of up to $250,000.

Want to save cash without thinking about it? Check out @hellodigit, it's like magic. And it’s free!Click To Tweet

The Best Thing About the Digit Savings App

The best thing about Digit is its simplicity. The app and service make it amazingly easy to save money. There is no action that you need to take. You simply link your checking account to the app, and the service does that rest.

It saves you money in the background without you having to do anything, without you noticing, without it interfering with your life. It doesn’t get more simpler than that. But, if you wanted to interact and save even more, then you’re able to do that too!

Here’s what their smartphone all and my account looks like with Digit. It is super simple, even with their design. They make it simple to save, and the app keeps it simple too.

What Is Quadruple Witching and How To Invest During It?

by Hank Coleman

If you’re like me, you’re always looking for the best return on investment. Can trading around quadruple witching help you earn more?

What is quadruple witching and can you use the phenomenon to your advantage when trading stocks? Should you even bother? Quadruple witching is the expiration of stock options and stock futures at the same time. And, it only takes place only four times throughout the year.

When is quadruple witching? Quadruple witching takes place in March, June, September, and December on the 3rd Friday of the month. It requires options and futures investors to close out their trading positions across stock options, single stock futures, stock index futures, and stock index options on the exact same da. And, the phenomenon is often associated with higher than normal trading volumes on the stock exchanges in the United States.

What Is Quadruple Witching?

Quadruple witching is a calendar phenomenon whose name may be far worse than its actual occurrence. The name conquers up thoughts of witches casting spells of doom and gloom on Wall Street. But, that’s not quite what’s going on of course.

During quadruple witching, many options and futures investors must let go of their futures and options positions before the contracts expire at the end of the day. Investors may notice a fury of investing activity if you watch CNBC, Fox Business News, and the other business television news networks, especially during the final hours of market trading in the United States.

The strange sounding phenomenon often forces investors to repurchase contracts and/or sell their market positions closing our their contracts. Investors must finish their futures and options contracts on the expiration day. They have the option to repurchasing – or rolling over their positions – or closing out all of their options and futures positions.

All of this market activity by the options and futures traders often leads to a very noticeable increase in trading volumes for the day on the NYSE, NASDAQ, and other stock markets in America. Many estimate that trading volume during quadruple witching days can be a high as 50% more than a normal trading day. There can often be an increase of intraday volatility as well.

At the end of the day, the name quadruple witching is a lot more bark than bite. For the typical investor, you may barely even notice when the day is or the spike in trading volume on the stock exchanges. For most investors who practice dollar cost averaging in the 401k retirement plans and the like, they will barely notice. And, that’s a good thing!

The secret to taking advantage of quadruple witching when #investing - here's how to do it!Click To Tweet

9 Ways to Save Big Money on Car Maintenance Right Now!

by Hank Coleman

When it comes to car maintenance, many folks prefer to depend on auto shops and mechanics’ advice for fluid fills, repairs, and tire care. Many automotive repair companies and mechanics have solid reputations, but deceitful practices such as misleading sales tactics continue to lead to lawsuits and frustrated customers. The average car maintenance cost can be a large portion of the cost of owning a new car.

To avoid getting a bad deal on your car’s maintenance and repairs, here are nine clever ways to save money on all things automotive including tips that you can use to save money on car maintenance right now – today!

How To Save A Fortune On Car Maintenance

How do you save money on car maintenance? Here are 9 great tips! Click To Tweet

Monthly DIY Engine Check

Even if you know very little about cars, you can still check your own engine fluids as a part of a monthly car maintenance routine. LifeHacker lists five engine fluids you can check on your own: engine oil, transmission fluid, coolant, power steering fluid, and brake fluid (LifeHacker also includes helpful videos for each fluid mentioned).

By performing your own car inspection on a monthly basis, you’ll be more aware of what needs changing or refilling and when, rather than relying on quick-lube shops’ “every couple of months” guidelines. It’s also very important to check and clean your car battery on a regular basis to avoid corrosion and maintain its functionality for several years to come.

Buy Your Own Auto Parts Online

Dealers charge a premium for automotive parts, and local auto shops may not be much cheaper. If you’re doing your own repairs or having your car repaired at a local shop that has a flexible policy on bringing in your own parts, you can save money on car maintenance by purchasing auto parts online.

Autozone.com, Parts Train, and Parts Geek are popular websites for affordable car parts with favorable consumer benefits ranging from free/fast shipping and low price guarantees to large inventories and money-back guarantees. Save 15% On Online Ship-To-Home Orders Of $100 Or More PLUS Free Shipping! Use Coupon Code: SAVE15

Check Your Car Warranty

All too often, people begrudgingly pay for pricey car maintenance work without checking the warranty first. If you have an older car with more than 100,000 miles then there may not be much left on the warranty (though it’s worth checking!), but a newer car will likely have some parts covered.

To check if your car has a factory warranty, Cars Direct recommends investigating with your car’s VIN number (on the dashboard or on the driver’s side door), contacting your dealership, or requesting a CARFAX vehicle history report. You may just find that a new battery or perhaps an $800 repair job for your engine might be paid for with the warranty instead of out-of-pocket. You have nothing to lose by checking, right?