5 Strategies for Defeating a Shopping Addiction News

If you can’t leave a store without a bag in hand, it’s time to
cut off your cash flow.

Have you ever bought nonessential items, even
when you knew you didn’t have the money to cover the credit
card bill? 

Have you ever talked yourself into an expensive purchase,
even when you knew you’d be letting others down by doing
so?

Have you ever bought a bunch of items at once, not even
realizing how much you spent until later on?

If you’ve said “yes” to all the above, you might be suffering
from a shopping addiction. A shopping addiction is when you
compulsively buy things even when you’re aware that doing so is
a financial mistake. You’re quite willing to go into debt and
even damage your relationships in order to keep buying more and
more and more things.

A shopping addiction can be an incredibly painful
challenge to overcome. After all, we do need to shop at
least a little to maintain our home and keep food on the table.
What exactly can a person do in order to take on a shopping
addiction? Here are five strategies:

Cut off your cash flow. When you head into a situation
where you might be spending money, make an active choice before
to cut off or restrict the amount of money you’ll have on hand.
Leave your credit cards at home or in the car, and only take in
a small amount of cash – or no cash at all. The goal of this
step is to ensure you don’t have the resources to make
purchases you might later regret.

Avoid shopping situations. Another useful strategy is to
avoid shopping situations entirely – or at least as much as you
can. Reduce your time spent inside of stores to the absolute
minimum, and avoid shops unless you have true necessities. By
coming up with a very clear blanket rule like this and sticking
to it, it becomes clear what financial choices you should be
making.

Rely on others. If you still end up buying unnecessary
things, ask your friends and family for help. For example, you
can ask your friends to help you
avoid unnecessary purchases by talking you out of them in
social shopping situations. You might also want to consider
asking friends and family to help you with your shopping so
that your spending opportunities are limited. This can be a
difficult conversation to have, but when you genuinely ask your
friends and family for help, they’re usually going to be there
for you to help you through your challenges.

Replay your shopping mistakes, and look for triggers.
When you find that you’ve made a shopping mistake, spend some
time thinking back on that mistake. Ask yourself:

Why did it happen?

What made you switch your mindset to allow yourself to make
this luxury purchase?

Was it
triggered by a feeling within yourself?

Was it triggered by something outside of you, like a friend
or a particular type of store?

Was it triggered by a website that inflates your wants?

If you can figure out exactly what things trigger your shopping
impulses, you can focus directly on eliminating those triggers.
For example, if you’re often triggered by a particular online
store, you know you should delete that website from your
bookmarks and unsubscribe from emails notifying you of sales.

Delete your credit card numbers. Many people – myself
included – will make poor buying decisions online because it’s
just so easy. On websites like Amazon, you can often
move from simply looking at an item to having that item shipped
to you in just a click or two, which is dangerous for a
shopping addict. Often, placing a simple roadblock in the way
can give you enough time to rethink your decision, and you can
insert that roadblock yourself by simply deleting your credit
card numbers from that website. Go into your account
information, and clear all your payment information stored
there. Suddenly, shopping on the site becomes a lot less
convenient if you have to get up to hunt for your wallet. And
during that time, you might realize you’re making a shopping
mistake.

One final tip: If you’re still struggling to overcome a
shopping addiction after applying these strategies,
seek out a financial therapist or money coach. There
are many techniques and strategies that can be approached with
the aid of a professional. If you find that you keep going back
to your old shopping mistakes no matter what you do, it may be
time to seek extra help.

Conquering your shopping mistakes is a vital element of getting
your finances in better shape. Once you can break free of a

constant routine of overspending, it’s easy for your
finances to fall into place.

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The Internet Is Used 24 7 But Timing Still Matters

With so much information on the net relating to Internet marketing, identifying the most effective approach is tough.

Following is a conversation of the timing problems you should keep in mind.

The Web is Used 24/7, However Timing Still Concerns

Info on internet advertising and marketing is a superabundant. Reports and researches typically think of things all of us already know if we use our sound judgment. Generally, even more folks are utilizing the Internet to locate services and products, the quantity of sales is improving annually, as well as folks are nervous concerning identification burglary. Wow, exactly what a shock. Permit’s take a look at subject you could actually benefit from.

While the Web is offered and also pre-owned 24 hours a day, 365 days a year, purchasing styles do not include this large time duration. On weekends or vacations, sale conversion rates will fall as people are more likely to be blowing time merely surfing around the Net.

So, how can you utilize this details to your perk? Your interactions with customers ought to be oriented to occur during the week, if possible on a Monday or Tuesday. Your advertising and marketing products ought to also be oriented to supply incentives for restricted time periods, generally 1 or 2 days from Monday through Thursday. Lastly, you should be sending e-mail newsletters on Monday evenings, so your leads can read it when they concern work Tuesday morning. The hassles of Monday should more than, which will make them much more receptive. These guidelines apply throughout the year with one exemption.

The holiday season on the web runs from early November with the end of the third week of December. If you market services or products that can be linked right into the holiday season, you can’t aid however make a bundle throughout this period. Customers are extremely encouraged to get as well as you have to get in front of them. Email interaction should be sent out every 3 days beginning in very early November. The first Monday after the Thanksgiving weekend is a significant online sales day. From that factor ahead, you need to be sending out different email interactions to prospects and also former customers each day. This is your gold time, so get in front of your clients.

Top 5 Things You Can Rent for Extra Cash

Airbnb wins for name recognition in the home rental space, but
other services worth checking out include FlipKey, 9Flats and
Roomorama.

If you’re in need of some extra cash to pay the bills or boost
your savings, remember that lesson you learned in kindergarten:
the value of sharing. By lending out what you already have
lying around – power tools, old college textbooks, even your
home – you can
bring in that extra income you need with minimal time or
effort. 

Nowadays, startup apps and service sites can connect you, the
generous property owner, with people who want to rent your
stuff. And they often offer insurance or protection in case
your things are lost or damaged.

Here are five common things you can list for rent and the sites
that’ll help you do it:

  

1. Your home 

While you’re away on vacation or taking a weekend getaway, your
home sits empty. Why not fill it with short-term renters?
Through a range of service sites, you can rent out your home to
visitors who want an authentic local experience at an
affordable price. In turn, the money you get can help you with
monthly bills, rent or even your mortgage. 

Airbnb, the reigning peer-to-peer home rental site, gives you
the option of renting out a shared room, a private room, an
apartment or
an entire house. You set the price, then choose who you
rent to. It’s free to list your place, and you pay 3 percent to
Airbnb when a stay is successfully booked. Each booking is
protected by $1 million in coverage.

Other sites, such as Wimdu and 9flats, operate similarly to
Airbnb. HomeAway allows you to list your home at an annual
subscription or a percentage per booking. FlipKey and Roomorama
offer free listings with a 3 percent booking fee. Each of these
services offers either an insurance policy or suggests setting
a security deposit.  

2. Your car 

After a long week, you’re just going to take it easy around the
house, leaving your car in the driveway. Meanwhile, someone
across town is looking to get away for a few days – and needs a
car to do so. It’s a perfect match. Renting out your vehicle
when you don’t need it can potentially cover all
costs associated with owning a car, including monthly
payments, gas, maintenance and repairs.  

Peer-to-peer car rental sites such as RelayRides, Getaround and
JustShareIt let your set your own prices and availability for
all trips. Each service offers theft or damage coverage for
rentals, as well as a $1 million liability insurance policy.
Drivers are screened, and you pick the renters.  

Depending on the service, you may need to arrange to meet the
renter to hand over your keys. GetAround and RelayRides also
offer devices that can be installed in your car so users can
access the car remotely via a mobile app. Using the app,
renters can navigate to your car and unlock it to access the
keys, which you leave in the vehicle for them. 

With RelayRides there are no sign up fees, you list your car
for free and you keep 75 percent of the total reservation
charges. Getaround allows you to keep 60 percent of your rental
profits, whereas JustShareIt lets you to keep 80 percent. 

3. Your space 

Your unused space has untapped money making potential. Sits
such as Store At My House and ShareMyStorage allow you to rent
out extra storage space such as attics, basements, garages or
extra rooms for any length of time. 

If you have an
empty driveway or parking space, rent it out on sites such
as JustPark, ParkingPanda and CARMAnation for as little or long
as you like. JustPark charges a 25 percent commission on
parking revenues; ParkingPanda charges a 20 percent commission;
and CARMAnation charges a 15 percent commission fee. 

4. Your textbooks 

Most
textbook rental sites, including Chegg and College Book
Renter, only allow you to sell your books, not rent them out.
RentBack by CampusBookRentals let you rent your textbooks
through its service. You just send in your book and receive
payment every time the book is rented. 

Renting out textbooks can be problematic, since professors
often require the newest editions. However, CampusBookRentals
claims that while books are in demand, students can make two to
four times as much by renting out books than by selling them
back to campus bookstores.

5. Your stuff 

Really, there’s no limit to the things you could rent out. Your
power tools, lawn mower, bicycles, ski gear, video games,
musical instruments or boat all can be put to good use through
sites such as Loanables and Zilok. 

Loanables listers pay a 10 percent fee per transaction, whereas
Zilok requires a commission for each transaction on a sliding
scale, based on the total amount you make.  

On Spinlister you can list bikes, surf equipment and snow
equipment. Listings are free, items are protected against loss
or damage and the company takes a 17.5 percent service fee from
each booking.  

With Boatbound you can list any type of boat, from canoes and
rowboats, to powerboats and yachts. Boatbound retains 35
percent of each reservation. The company offers $1 million in
liability protection and up to $2 million in hull damage
protection during each rental.

Remember, no matter what you decide to rent out, make sure
you’re aware of all fees, insurance policies and risks
involved. After all, when you’re done sharing your things,
you’re going to want them back in good condition for your own
personal use.

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8 Ways to Score Deals on Goodwill Half-Off Days News

Goodwill half-off days are akin to Black Friday. You’ll want to
get to the store early, and have a plan.

I arrived at my hometown Goodwill a few minutes before opening
on a first Saturday of the month. I was there the night before,
scoping out furniture to use for my daughter’s play kitchen.
Since I had things to do, I figured I’d just swing by Goodwill
the very first thing in the morning.

I was astounded as I pulled up. The parking lot was nearly
full, and there was a line of at least 20 people deep from the
still-locked front door. I had no idea Goodwill’s 50 percent
off discount on the first Saturday of the month would be this
big a deal!

Since that first trip (where I paid only $4 for the table that
is now my daughter’s play kitchen), I’ve been back to Goodwill
on first Saturdays many times. In fact, when I started a new
job, most of my wardrobe came from two Goodwill half-off day
shopping sprees.

In spite of its reputation as a place to get funky clothes to
wear to 80s night at the bowling alley, Goodwill can actually
be an excellent place for savvy shoppers to pick up everything
from dress pants to dish pans.

But since half off days are a little like Black Friday for
thrifters, you have to know how to take advantage of
these shopping days. Here are my top eight tips:

1. Know when the sales happen.

Here in Central Indiana, Goodwill has a half-off day on the
first Saturday of every month. And there are other deals at
other times, including tag color specials where just some of
the store’s stock is on sale. First Saturday sales are common,
but check with your local Goodwill stores to figure out when
the best sales happen in your area.

2. Scope it out.

If you’ve never shopped at your local Goodwill stores, take
some time before your first trip to scope out the stores in
your area. In general, areas where wealthier people live and
shop tend to have higher-end name brand items. But this isn’t
always the case. I’ve scored Eddie Bauer sweaters at Goodwill
stores in relatively low-income areas.

Still, if you know you’ll only have time to hit up one or two
stores, it’s a good idea to know which ones will suit you best.

3. Make a list.

Making a list when you’re
shopping at a thrift store is not the same thing as making
a list when you’re shopping at a department store. At a
department store, you basically know what’s in stock and that
everything will mostly come in your size. At Goodwill, all bets
are off.

Still, you don’t want to shop with no idea of what you’re
shopping for. So, for instance, when I’m shopping for new work
clothes, I have a general idea what I’m looking for. I’ll keep
a mental list of the outfits already in my closet, so I don’t
double up unnecessarily. And I might have a few vague specifics
in mind – like some sort of neutral sweater or a pair of dress
pants.

When I shop for my daughter at Goodwill, I’m even more general.
Usually, half-off days are for shopping for things she’ll need
the next season or even years down the road. Right now, my
“list” for
kids’ clothes is basically any adorable, must-have girls’
clothing item in size 8 or smaller. And the further the size is
from her current size – 4T – the more I have to love an item to
buy it.

You could also have a general idea of things you need for your
kitchen or accessories you’ve been looking for. Don’t be afraid
to deviate from the list if you find a great deal, but having a
list gives you some direction during your trip.

4. Try things on.

It’s tempting to buy a sweater for $4 without trying it on,
just because it looks like it’ll fit. But if you get it home
and it doesn’t fit right, you’ll have wasted $4. And you’ll be
stuck with a sweater that you need to find time to re-donate to
Goodwill.

Trying on clothes can be frustrating and time-consuming. But
most Goodwills have at least a few fitting rooms. So load up on
the things that look like they might work, and then take time
to try things on.

5. Don’t buy it unless you love it.

The first time I did a Goodwill half-off day, I bought a top
that I was a little ambivalent about. Again, you fall into the
it’s-only-$4 trap. And, again, I wound up with a top I would
never wear that I had to take back to Goodwill on my next trip.

If you’re a crafter, the temptation to buy things you don’t
really love is even stronger. I’m always thinking, “Well, I
could take it in here or add some ruffles there, and
then I’d wear it.” It’s great to shop for
bargain-basement deals that you can upcycle yourself. But if
you only buy articles of clothing or housewares or toys
to upcycle, you’ll wind up with an overflowing sewing basket
and an underwhelming closet. Only buy items for upcycling
projects you’ll actually have time for – preferably before
the next half-off shopping day.

6. Start early.

The key to getting the best stuff from a half-off day,
especially if you’re looking for bigger-ticket items like
furniture, is to go early. It’s like Black Friday. Get to
Goodwill just before opening, and get in line. If you’re lucky,
you’ll even get a cart. 

7. Plan your route.

With my girlfriends, Goodwill’s first Saturday sale is an
event. We typically block out most of the morning and early
afternoon, and we go to several stores in a row. If you need to

stock your wardrobe or your kids’ wardrobes ASAP, this is
the way to do it. I gathered most of my current work clothing
in one epic Goodwill day involving six stores.

If you’re just browsing to see what you might like for a good
price, you don’t have to go to multiple stores. But if you do
choose to shop multiple stores, know that they’ll probably be
out of carts by the second store, though things usually slow
down later in the afternoon. Plan which stores you’ll go to in
which order to make the most of your Goodwill shopping day.

8. Shop often.

The thing about thrift shopping – whether you’re just
Goodwilling on half-off days or are a frequent buyer at local
thrift shops – is that the stock always changes. The best way
to piece together a fabulous wardrobe,
decorated home or kitchen on a shoestring budget, is to
visit thrift stores early and often.

In my circle of friends, Goodwill’s first Saturday is fast
becoming a standing monthly appointment. And we always find a
few treasures on each trip.

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How To Sell More Of Your Products Online

“Making Money Online”  Is A Booming Business

 

If you run an online store selling products, such as tools, fashion jewelry, make-up, presents, apparel, or other items, you make additional cash when you offer even more products. Considering that the objective of any business is to generate income, online store owners understand that the more items they sell, the even more money they could make.

“How can I market more of my items online?” is one of the most common questions I hear from my customers is. Right here are several pointers that will aid you buy even more of your products online and create even more profits:.

– Show off the products in the most effective feasible light. When people acquire an item, they wish to know exactly what the product seems that. If an individual is getting a couch, they intend to manage to view if that sofa would fit with the rest of their furniture just before actually acquiring it. If someone intends to purchase an item of precious jewelry, they wish to see exactly what the fashion jewelry seems that prior to buying it.

The ideal means for you to convince your internet site visitors that your products are appropriate for them is by showing the items in the finest feasible light. Have high quality, specified pictures of your items on your website to ensure that individuals are convinced that they require your product as quickly as they see it.

– Make your web site easy to use. If somebody comes to your internet site to buy your items, make certain they can find specifically how you are looking for. Your website should have clear and succinct gps that is specifically the same on every web page of the web site.

An easy to use gps guarantees that your internet site visitors discover how they are trying to find on your website and investment it.

– Optimize web site for online search engine. One more great way to drive more consumers to your internet site and improve your on the internet sales is by optimizing your web site for search engines. Search engine optimization is the process of modifying website content and meta-information to improve the search engine position of the web page. Meta-information consists of certain HTML tags (title, heading, emphasized text, keyword and description meta-tags), as well as the interior (hyperlinks in between web pages on the exact same site) and also outside (web links between pages on different sites) link framework of an internet site.

Maximizing your internet site assists you improve your search engine rankings as well as drive much more targeted traffic to your website.

– Create a blog site to market your company. A blog is your company diary, in which you share the info about your company, your new items, different ways of using your products and also far more. Your blog site is a superb tool to let the world find out about your company as well as your items, to get in touch with possible clients as well as promote exactly what you need to offer.

In order to bring one of the most online web traffic as well as earn cash with your blog site, make certain that your blog site constantly and also develop articles that are of interest to your past along with potential consumers. Regular articles that interest check out is how will keep your readers coming back as well as purchasing from you.

The Internet is a terrific place to sell your products. When you recognize how to market your company online, you bring additional internet site web traffic, obtain even more product sales as well as make even more cash.

 

Have an incredible day!

 

Mike Deets - Living

Mike Deets – Living

 

 

How To Increase Traffic To Your Website Increasing Sales With More Traffic

When all is said and done, the advertising concepts that use in the physical country have comparable applications in the online world, on the Internet and also World Wide Web. In shorts, several of the advertising goals that apply to doing business in the physical world are similarly appropriate in cyberspace and on the Net.

For instance, in the brick and mortar world, among the keys to making sure that your company will certainly endure is establishing methods whereby you can bring customers to your real world establishment. The exact same concept holds true on the Net. In order for your Internet based company to prosper, you should drive company to your Internet web site. You have to boost website traffic to your Internet internet site.

One approach that you can utilize to improve traffic to your site is seo of SEO. SEO is the marketing device whereby you improve your ranking level on online search engine search engine results page. As an example, if you have the ability to initiate and implement a solid SEO program, you will certainly manage to take a position towards the peak of specific online search engine outcomes. By going to the peak of search engine search results, you will have even more people clicking on the search results page associated with your website. You will wind up with even more traffic to your internet site.

As a basic policy, increased web traffic to your website always cause an increase in the number of consumers or clients collaborating with your business company. More company indicates much more sales. More sales equates right into even more earnings for your company. And, eventually, an increase in profits lead to even more earnings for and from your web-based business enterprise during the lasting.

In regard to SEO programs, you might would like to see an SEO expert. There are now certified, respectable and also reliable men and women which been around in this day and age supplying to individuals certain marketing plans that center on SEO. These folks could help you in establishing an SEO program that will increase traffic to the internet site of your Internet based business. Once again, as has been mentioned, solid SEO and enhanced traffic to your business web site will lead to an increase in income as well as a rise in profits for your online business venture. You will certainly appreciate real online business success today … as well as tomorrow.

 

 

Want To Have A Personal Online Marketer?

 

Mike Deets - Living

Mike Deets – Living

 

 

4 Unfair Bank Fees That Will Drain Your Account News

The average overdraft fee at the 10 largest banks in the U.S. is
about $35.

In an ideal world, you would be exempt from all bank fees
simply for maintaining a balance in your
checking account. In reality, even the most responsible
customer can incur costly fees at the bank.

Although most fees are a result of a consumer’s limited
understanding and lack of attention to detail, in some cases,
they may be a result of something completely out of your
control. In fact, most complaints filed against banks regard
fees deemed unfair by customers – as many fees are marked up
exponentially and do not reflect the true cost of providing a
certain service.

Here’s a
list of bank fees that are both unfair and costly. Keep
these fees in mind to avoid being a victim of unfair charges.

1. Stop Payment Fee

Whether you want to place a hold on a payment or stop an
erroneous check, a stop payment order is a quick and effective
method to prevent a payment from processing – but it comes at a
cost.

The average stop payment fee is $32.40 at the 10 biggest banks
in America, according to a MyBankTracker.com July analysis. The
highest fee was $36 at SunTrust Bank, while the lowest was $25
at Chase.

This high fee may be worth it if a stop payment is necessary,
but it will generally expire after a six-month period. Many
banking customers fail to realize this, and the stopped payment
goes through. To prevent this from happening, a customer must
actively renew the stop payment request before the expiration
period, which will incur an additional fee. 

2. Overdraft Fee

When your account balance is low, the last thing you need are
extra fees, which is exactly what can happen.

Another July analysis of the 10 largest banks found the average

overdraft fee charged for each transaction that resulted in
a negative account balance was $35.20. Overdraft fees are one
of the most expensive bank fees, but this isn’t the only reason
why they’re a sore spot for many banking consumers.

For one, you will be assessed an overdraft fee for dropping
even a couple cents below your balance, which means you’ll have
to pay roughly $36 for being short 2 cents.

There’s also a gray area with overdraft fees that often
confuses customers. Even if you deposit a check right before
you overdraft, this will not guarantee that you won’t be hit
with an overdraft fee, thanks to a fund availability policy in
the U.S.

If you don’t realize you have a negative balance, you may
continue spending money, which could result in multiple
overdraft fees on a given day. All these extra fees may make it
difficult to bring your account back to a positive. Sometimes,
a bank will give you a limited amount of time following the
initial overdraft to pay for the charges. If not, you will be
charged an extended overdraft fee for keeping your account
overdrawn for an extended period.

3. Deposit Item Returned Fee

When someone writes you a check, and that person doesn’t have
sufficient funds in his or her account, the check will
bounce. Although this is not your fault, you will have to
pay for this mistake (along with the person who issued you the
check). You will be charged the deposit item returned fee,
which is currently an average of $12.85.

4. Debit card replacement fee

It’s bad enough you
lost your debit card or someone ran off your information,
but what’s worse is that you may have to pay for your
replacement card, especially if you want it rush delivered.

Thankfully, the average cost of getting a lost debit card
replaced is only $1.75, and most banks offer this service for
free when delivered through standard mail. Banks also won’t
charge you a fee
if your card was stolen.

However, the delivery time of the replacement cards can vary
greatly and take anywhere between three to 15 business days.
Depending on your needs, this time frame may not be an option
for you. If you needed to use expedited delivery, it can cost
upward of $30.

The Silver Lining

Even the most unfair fee policies today are tamer versions of
fees in the past – when there was no limit on the amount you
could be charged in a day for overdraft fees. To control these
unfair practices and protect bank customers from inflated
charges, federal regulators are continuing to implement new
rules until both bank and customer can find a happy
balance.

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The 8 Biggest Myths About Rich People

Warren Buffett may be worth $63 billion, but his humble abode
resembles nothing close to a mansion.

When we see rich people, either in our daily lives or in the
media, we have assumptions about them. The monikers of wealth –
designers bags, expensive sunglasses and luxury
vehicles – usually help us identify the status
of that individual and make seemingly logical assumptions about
their lifestyles.

The thing is, not every wealthy person is a big spender with an
immaculate financial history. In fact, being wealthy doesn’t
mean you necessarily have any clue how to manage your personal
finances. Here are eight stereotypes about rich people and
names you know who break the mold.

1. They’re homeowners.

Celebrity reality shows like “Keeping Up With the Kardashians”
and MTV’s “Cribs” have confirmed our assumptions that rich
celebrities inhabit the palace-like homes and condos of Malibu
and New York City. Yes, many rich
people – celebrities or not – own their
homes, but not all of them do. In fact,
several celebrities, including actresses Diane
Keaton, Meg Ryan and Jane Fonda, have paid rent for their
residences.

Queen Latifah rented a 4,700-square-foot loft in Atlanta from
Fonda, in fact, for $10,000 a month, according to Zillow. For
celebrities and businessmen who change their residences
regularly for work, renting might be a better financial option.
Although, at $10,000 a month we can’t say Latifah’s rental is
low budget.

2. They’re experts at money management.

Wealth, if it’s not inherited, is often the product of making
it in a business. Whether you’ve built your name up to command
a certain salary, as is the case with athletes and celebrities,
or built up a company,
honing that entrepreneurial mindset is often key to
accumulating wealth. However, just because someone knows how to
acquire money doesn’t mean he knows how to manage it.

Wonder how the rich continue to get richer? They can afford
financial
advisors who make sure their money works as hard as they
do. Even entrepreneurs like Mark Zuckerberg, who started
Facebook from his college dorm room, turn to financial advisors
when it comes to managing the product of their success and
business savvy. Divesh Makan advises both Facebook founder Mark
Zuckerberg and chief operating officer Sheryl Sandberg on their
financial decisions.

3. They have perfect credit.

Credit scores are used to measure the likelihood that someone
will pay back what he or she borrows on time. Those who fail to
do this will experience a
credit score decrease, which will hike up the interest rate
offered when borrowing in the future.

It’s natural to assume that the wealthiest people have high
credit scores that help contribute to their wealth. However,
because rich people can be extravagant spenders, this is not
always the case. Celebrities with debt, or who have gone
bankrupt, suffer from low credit scores. Lindsay Lohan, for
example, reportedly owed $600,000 in credit card debt in 2010,
requiring a minimum monthly payment of $15,000. Who knows
whether Lohan managed her payments or what her exact interest
rate was, but it’s safe to assume that her credit history
reflected her spending decisions.

4. They’re big spenders.

This is true for many rich people, especially celebrities, but
it’s not a rule. With more money comes the ability to purchase
luxury goods and pay for extravagant experiences. The more
money you have, the cheaper that private yacht
or – in the case of Virgin Group founder Richard
Branson – that island might seem. However, just
because you’re rich doesn’t mean you have to act like it.
Zuckerberg is famous for his trademark gray T-shirt and
hoodies, and he isn’t the only entrepreneur who exercises
frugality.

Warren Buffett is the third-richest man in the world, boasting
a net worth of $63.3 billion, according to Business Insider.
With an average earnings of $37 million per day, the Oracle of
Omaha is famously frugal and still resides in the home he
purchased in 1958 for $31,500.

5. They’re debt-free.

The belief that wealth and debt cannot co-exist is turned on
its head by a wide range of celebrities. From Lohan’s credit
card debt, to the $18 million professional boxer Mike Tyson
owed the Internal Revenue Service, those who command big
paychecks and endorsement deals also often have debt to match.

Even with a fortune of $300 million, Tyson’s debt
reached $38 million in 2004, according to USA Today. Other
celebrities who struggled with debt include actors Nicholas
Cage and Burt Reynolds, photographer Annie Leibovitz and former
baseball player Jose Canseco.

6. They come from money.

The silver spoon perception of wealthy people isn’t entirely
misguided. After all,
heirs of family fortunes have a significant head start
toward wealth. However, the whole concept of the American dream
is centered on the self-made man who has control over his
financial status, regardless of family money.

We’re seeing self-made men climb to the top of the earnings
charts, as places like Silicon Valley churn out wealthy tech
entrepreneurs at an alarming rate. Some of the world’s most
successful people started off not just in the middle class, but
poor. Starbucks CEO Howard Schultz was raised in a housing
complex for the poor in Brooklyn, and business mogul and talk
show host Oprah Winfrey was born into a poor family in
Mississippi. Forbes estimates that Schultz is now worth $2.1
billion, while Winfrey sits at $82 million.

7. They’ve never been bankrupt.

Much like debt, bankruptcy seems to be the antithesis of
wealth. However, some of the most successful people lost
everything at some point. Some wealthy people who bounced back
from bankruptcy include Henry Ford, Walt Disney, Milton Hershey
and H.J. Heinz – all of whom went on to create brands
we still see in our everyday lives.

Another example: Hotel mogul Donald Trump has filed for
corporate bankruptcy an astounding four times – in 1991, 1992,
2004 and 2009 – but he’s worth more today than he was
before filing for Chapter 11 the first time. In 1990,
Forbes estimated Trump was worth $500 million; he’s now valued
at $4 billion.

8. They don’t have a budget.

With wealth comes the ability to live carefree on an infinite
budget, right? While even the likes of Bill Gates and Warren
Buffett have only so many billions to spend, one could think
that these megarich don’t need a budget at all, especially
since they’re not living paycheck to paycheck. However, a wise
person who has amassed wealth lives on a budget, as he
understands that just as quickly as it was
earned, it
can all be lost.

Actress Kiera Knightley revealed to Glamour magazine this year
that she’s been living on a $50,000 annual budget since 2012,
despite her $50 million net worth.

“My parents were actors and writers, and that gives you the
mentality of, OK, I’ve got [money] now, but it could all go,”
Knightley told Glamour.

Just as you have to budget for retirement, your mortgage and
car payments, groceries and other expenses, wealthy people
should and do apply the same guidelines for themselves; when
they don’t, it’s likely that their wealth will be misspent,
leaving nothing for the future.

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The 6 Best Bill Splitting Apps

Sit back, relax and let your smartphone do the math.

We’ve all been there. You’ve enjoyed an evening out with
friends or work colleagues, eaten a nice meal, shared
pleasant conversation and then the check arrives. Some of you
are paying cash. Some are paying with plastic. At least one
of you is put out that the group is splitting the avocado and
deep fried onion appetizer evenly, and not just among those
who dared to try it.

Eventually it gets sorted – and God help the server back at
the register keeping it all straight.

But there’s an easier way. In fact, there are six easier
ways, each as close as your smartphone.

Divvy
is one of several smartphone apps that employ optical
character recognition to capture details such as items
ordered and prices from the restaurant check. From there, you
assign items and amounts to each member of your party. It
calculates and divides the tip, allows you to sort guests
into groups for those who would like to pay together (or pay
for the avocado fired onion appetizer they hogged) and more.
When it’s done, you’ll know exactly how much everyone owes.

Available for iOS.

Billr works a
lot like Divvy, except Billr doesn’t rely on OCR to capture
an image of the check. Instead, you enter items and amounts
manually. Like Divvy, you can split items like avocado and
fried onion appetizers among several guests. Once
everything’s entered, the app calculates everyone’s share.
From there you can settle up at the table, or send text or
email reminders to everyone.

Available for iOS. 

A much more ambitious app than a mere restaurant
check-splitter, Splitwise helps groups divide and settle
all sorts of bills, such as rent, utilities and groceries.
Plates by
Splitwise simplifies the app to suit the diner (or the
bar or the food truck). The app tracks IOUs over time, so,
for example, if you picked up lunch last week at the upscale
bistro, while your cubicle-mate picked up lunch this week at
the corner deli, you’ll both know how much you’re still owed.
It will even send out a friendly email reminder to pay up.

Splitwise is available for Android, iOS and via the Web. Plates
is available for iOS. 

The people who make Cover have
inked deals with hundreds of restaurants in San Francisco and
New York to allow users to pay for dinner using the app. Just
let your server know you intend to pay with Cover, and you’re
set – no waiting for the check. The app handles the splitting
and calculation, too. Payments are made via a credit card you
register when you install the app. If you’re splitting the
check, other members of your party will have to have Cover
installed, too.

Available for Android and iOS. 

PayPal has teamed up with restaurant bill paying service
MyCheck (much like Cover, above), to add
restaurant check splitting and payment capabilities to the
PayPal smartphone app. Like Cover, users inform staff they
intend to pay with PayPal, and bypass the end of meal check
drop-off and wait to pay routine. Users can split the check
evenly, by percentage or by item. When you’re all square, pay
via PayPal and manage the IOUs that way, too.

Available for Android, iOS and Windows Phone. 

While Splittr is designed to share the costs of
weekend getaways or other big, hard to account for events, it
can also handle a night out on the town. Set up an event,
enter attendees and start tracking expenses. At the end of
the trip or evening, the app splits the expenses, no matter
who paid for what and when, and sends all guests a report
covering who owes what to whom.

Available for iOS. 

Most of the apps noted here simply help you divide and tally
your group’s expenses. But what about settling up among your
group?

The smartphone payment and money transfer market is moving
fast (you may have heard about Apple Pay, Apple Inc’s
recently announced payment service). Several banks now allow
money transfers via their proprietary smartphone apps. PayPal
will let you quickly and easily send money to another PayPal
user. Google offers a transfer service, too, via Wallet, as
does mobile payment service Square. All you need to send
someone cash with those services is an email address.

Put it all together, and at the end of the night nobody should
feel like they paid more than their fair share for that crummy
plate of avocado dip and deep fried onions. 

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