Stock Market Tips on Budgeting

Written By: Mariusz Skonieczny



It is truly amazing how many people entrust their entire life savings to stockbrokers who know absolutely nothing or very little about investing. In their defense, many stockbrokers may be honest individuals who truly want to help their clients. However, the problem is that they were never trained to be investors but instead were trained to be salespeople, and they are constantly being pushed by their employers to sell. After being recruited by a brokerage company, they are subjected to intensive sales training where they are taught how to cold-call, prospect for clients, and counter various clients’ objections. The actual education on how to select and analyze particular investments is limited. Read the rest of this entry

Does your income always last you to your next payday? According to R3, 42% of Britons can’t say the same and are unable to follow tips on budgeting. Recent research by insolvency trade body R3 found that 11% of adults struggle to make it to payday on a regular basis – and that another 31% do so occasionally.

A full 35% of the people struggling said that making their credit card payments was a main cause of this. 25% of them said that their problems were caused by their spending on non-essentials or going out.

Steven Law, President of R3, said that “Our addiction to credit cards is still out of control, despite the recession and a ‘tightening up’ of lending criteria. There needs to be a cultural shift in consumer attitude to debt. For too long we have got used to the idea that this is money we are entitled to. Using a credit card is just delaying the inevitable day of payback – the sooner this is tackled and professional advice sought, the smaller the final bill will be for individuals.”

A spokesperson for  Think Money commented: “When someone can never make it through to payday without needing to borrow money, this is an indication that something fundamental is wrong with their financial situation. Their borrowing may take them over to the next month, but it does mean that they’re facing a shortfall when they pay it back – or that their debt is getting bigger every month.
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The Dollar Stretcher Blog
by Gary Foreman
gary @stretcher.com

I’m starting over with no retirement. With this economy there are lots of middle aged people like me who through company closings, stupid choices, divorce, etc have little retirement savings and are seeing a need to kick things in overdrive for a healthy retirement. Personally my goal is to buy a place – have it paid for and build Social Security and savings over the next 15 years. I trusted someone and they blew my life savings. My own fault. So I gotta get this ball rolling…How do I do it on $10 an hour but in an area you can get a home for under $50K?
Sandra

Sandra is right. She’s running a bit behind schedule. And, yes, she has a lot of company. Many people in their fifties are recognizing that they don’t have enough savings for the retirement that they expect and want.

Sandra has no time to waste. She needs to move on a number of fronts at the same time. She’ll want to control her spending, acquire a home and build up her retirement accounts.

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