Saturday, January 12, 2019

3 Golden rules to follow while taking out loans – Don’t miss any one of them

easy loans
In an ideal situation, everyone would have enough funds to pay for all their needs but the reality is far different from that. Majority of us have very few funds left in our bank accounts and hence the only option for us is to borrow money from lending institutions. Considering the banks and other lenders, this yawning gap between the consumer’s income and expenses seem to be their biggest opportunity on carry on their business. In fact, the lenders are already carpet-bombing the customers with loan offers that they send them through SMSs, mails and also over phone calls.

With the changes brought about by technology, you can not only get payday loans online but all sorts of lenders are available online waiting to meet your needs. They will just take 10 seconds to disburse a loan amount to their customers through net banking. But before you opt for loans, here are few of the golden rules that you need to follow.

Golden Rule #1: Borrow only an amount which you can pay back

The foremost rule of smart borrowing is something that the older generation has been advising us since years – ‘live within your means’. Make sure you take out a loan that you can repay easily. A thumb rule that you should follow is that your car loan installments should never surpass 15% and the personal loan instalments shouldn’t account for 10% of your net income that you make in a month. The total monthly income that you make towards all the loans shouldn’t be more than 50% of the monthly income.

Golden Rule #2: The loan term should be as short as it should be

The home loan tenure that is provided by few of the major lenders is 30 years. You have to understand the calculation that the longer the tenure is, the more will be the payment towards interest rate. However, it is always better to take out loans with shorter time period so that you can pay less on interest rates. On the contrary, if you take out short term loans from online sites like, you will get high interest loans for a short span of time as they don’t have any collateral and they offer loans to people with poor credit as well.

Golden Rule #3: Ensure paying back on time

As long as repayment of dues is concerned, you should be on time while repaying debts. Whether it’s a short term loan like a payday loan or a cash advance loan or a long term loan like a car or a home loan, you should never forget to make payments on time as this will lead to accumulated interest rates which will lead to debt. Also take care of your credit card payments as they carry the highest interest rate.

Therefore, when you’re wondering about the ways in which you can take out a loan and yet stay in financial peace, make sure you follow the golden rules mentioned above.

Friday, January 4, 2019

Gambling in the Forex trading industry - Something different !!

forex matters
If we are not careful with our professions, they will get out of hand. This can be easily visible in the trading business. For the sake of good returns from this business, traders will have to maintain it. Many traders though, happen to mislead their business and make a mess out of it. They happen to fall for various traps and make their trading experiences miserable to look at. In this article, we are going to discuss some of the most common and serious problems of the trading business. The following will be filled with all of the information about those mistakes. We will try our best to make the traders aware of them. We hope the traders at least the novice ones who are reading this article, will be able to change their business for a greater outcome from this profession.

Over trading is the most dominating

The most important in the sense of distracting ones trading business is the over trading problem. It can single-handedly mess with your trading business big time. When traders fall for that it becomes unorganized and the trade setups become haphazard before executions. This can cause the traders some serious losses from their accounts. You see, over trading is solely based on the trading frequency. It means the traders are placing their trades more frequently than others. This denotes the traders are not planning for most of the trades and when you are not making pre-planned trades, they end up looking very bad and the result from those trades do not bring any good luck. Because the position sizing may have been wrong and when several trades stay like this the total impact on the trades gets really massive. So, try to avoid this problem in your own trading business.

Getting rich quick

Many people in Singapore think high leverage trading account gives them the perfect environment to make tons of money within a short period of time. But if you do some analysis, you will be surprised to see all the risk takers are the ultimate losers of this industry. Forex trading is one of the most sophisticated business in the world. You can’t make any real progress unless you want to find the perfect way to lose money. Learn proper money management technique so that you can save your investment in the long run.

Risking too much is not good either

Like over trading problem, many traders happen to do too much with their risks. It means the traders have a poor money management plan for their business. When the trading business is running like that the outcomes from the trades will not be so good. The risk to profit margins will not bring any good smile to the trades. this not a false story at all, most of the traders think that with more money invested into the trades they will be able to make more profits. This comes from the general ideas about other businesses. When the traders use this strategy for their businesses without any kind of good position sizing, they begin to fall very short. The loss from those trades happens have a negative effect on a trader’s peace of mind. This also affects a trader’s performance after losing trades.

Micromanaging is bad for the mind

Some traders happen to fall for another problem by micro-managing things. It is the whole trading process we are talking about. The main problem comes when monitoring the markets because they are the main thing for proper position sizing. Doing this the traders becomes more engaged with the trades and their tensions during live trades affect a lot on the performance. This is because they begin to lose faith in the trading strategies which has been created from your own mind. So, for the sake of your own relaxation in this business, try to be calm and cool with the whole trading process.