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How to Maintain Good Credit

This post is a contributed post from  See their Financial Self-Defense Kit for advice on how to build financial confidence as well as safeguard your finances.

“It takes many good deeds to build a good reputation, and only one bad one to lose it.”

— Benjamin Franklin

maintain good creditYour credit history is your financial reputation. And just like your professional and personal reputations, your credit history takes many years to cultivate, can be easily damaged, and will follow you for the rest of your life.

Sound intimidating? Good. Are you scared? Don’t be.

Yes, maintaining good credit is important. Nearly everyone will need to borrow money from a lender at some point — say, for buying a car — and your credit history determines whether you qualify for a loan and, if you do, what interest rate you pay. It can make or break your application for a credit card. A prospective landlord can check it to judge whether you’ll be a responsible tenant. Potential employers may request your credit reports to see if there are any red flags.

Luckily, many resources are available to help you learn how to successfully establish — and maintain — a healthy financial reputation. Here are three tips for creating a stable foundation for good credit:

Monitor your credit reports

Understanding your financial habits — such as payment history and spending patterns — can help you improve them! Your credit score is generally based on information in your credit reports. Mistakes on your credit reports could hurt your credit score, so check them regularly. Make sure to check that your reports don’t contain any errors, such as incorrect contact information, closed accounts listed as open, or an item like an unpaid debt listed twice.

If you find something wrong in a credit report, you should contact both the credit reporting agency that produced it and the creditor that provided the information.

Pay your bills on time

This is one of the simplest ways to keep your credit score strong — yet, with the hustle and bustle of everyday life, it can be easy to lose track of time and miss payment deadlines. Set up auto-payments or electronic reminders to ensure that you won’t be hit with late-payment penalties. Paying bills late can also hurt your credit score, which in turn can raise your interest rate — meaning that you’re out even more money.

It’s a common misconception that the best way to improve a credit score is to pay off all of your accounts and close them. Get up to speed on your payments and stay on schedule, but be careful when closing accounts. Doing so eliminates some of the credit available to you, making balances appear higher when compared with the combined credit limit of all of your accounts. Also, if you managed that account well and made payments on time, closing it will remove all the positive benefits of your responsible credit behavior on your report and score.

Don’t get close to your credit limit

Credit scoring models look at how close you are to being “maxed out,” so keep your balances low in proportion to your overall credit. Experts advise keeping your use of credit at no more than 30 percent of your total credit limit. That means that if you have $12,000 of available credit, you shouldn’t use more than $3,600.

You can decrease your credit utilization ratio over time by paying as much of your credit card balance as possible each month. If you can, pay more than the minimum balance due; this will increase your available credit and decrease your utilization ratio faster.

Just as a shining professional reputation can take you far in your career, your credit score can make or break your financial status. To learn more about how to establish a stellar financial reputation, visit


Most Obvious Reasons to Start Binary Options Trading

Binary Options TradingIf you are familiar with the trading industry, you have probably heard already about the relatively new binary options trading. This is one of the most attractive modern ways to trade and actually boost the profit. However, just like for any other type of trading, this one demands a little attention. But before looking for ideas and techniques, become familiar with the actual industry and its advantages. So, what should you expect from binary options trading?

High Returns

The possibility to reshape your income has always been a challenge for traders. Binary options trading steps in to make this idea reality. The returns of your investments will be drastically increased when compared to other trading ideas. Forex traders will usually gain about 10% on a successful trade. On the other hand, a binary options trader will end up with a much better return – 60% to 90%. Besides, binary options also allow currency trading, just in case you are too fond of the actual currency pairs.

Known Risks

Knowing risks is yet another important aspect in binary options. Basically, you know how much money you are risking before you even trade. You also know how much money you might get or lose. In other types of trading, identifying risks is almost impossible. Every specialist agrees that controlling risks implies controlling returns. But when you have no clue what the risks are, you obviously cannot control your returns either. What happens then? Simple. You might lose a fortune. In binary options, everything is set up front. It makes no difference what kind of financial disasters or wonders the world goes through.

Returns On Losses

Last, but not least, keep in mind that binary options may give you some returns even if you lose the trade. Binary options underline way higher payouts. On the other hand, the risk is obviously a little higher than in other investments. In order to prevent too many risks, many brokers offer some of the money back on a lost bet. This is also a smart move to make binary options trading more appealing for newbies. Sure, unexpected situations will always arise. Not everyone will win round the clock, not even the most experienced traders. But then, instead of losing 100% of your stake, you might lose 85% to 95% of it. Therefore, you have some extra to get back on your feet.

In conclusion, binary options trading is quite advantageous. Benefits are highly diversified too:

  • No complicated platforms for trading
  • Fast turnover rate
  • Multiple assets
  • Ease for newbie

With these conclusions in mind, it is easy to understand why more and more newbies rely on this form of trading. Once again, it requires technique and attention.

Guide to Forex Currency Pairs

currency pairsCurrency Pairs

Forex trading works due to the value of a currency being determined by its relative value in comparison to another, you trade forex in currency pairs for this exact reason. The first currency of a pair is the base currency, and the second is called the quote currency. For example, with the GBP/USD currency pair the British Pound is the base and the US Dollar is the quote. The pair shows how much of the quote currency is needed to purchase one unit of the base currency.

FX trading involves the simultaneous purchasing of one currency and selling of another, however the currency pairing itself can be thought of as one unit that is either bought or sold. When purchasing a pair, you are buying the base and selling the quote. The ‘bid’ (buy price) represents how much of the quote currency is required for a single unit of the base currency. On the other hand, when selling a currency pair, you sell the base and receive the quote currency in return. The ‘ask’ (sell price) for the pair represents how much of the quote currency you will receive in return for selling a single unit of the base currency.


Traders will often refer to currencies by their nicknames. For example, GBP/USD is often referred to as ‘cable’. This term originates from the communication cable that runs between the countries from over one-hundred years ago. Other nicknames include ‘Loonie’ the Canadian Dollar, ‘Kiwi’ the New Zealand Dollar,  ‘Swissy’ the Swiss Franc, ‘Aussie’ the Australian Dollar, ‘Nokkie’ the Norwegian Krone and ‘Stokkie’ for the Swedish Kroner.

Available Currency Pairs

Commonly traded pairs are typically split into two groups related to liquidity and popularity: the Majors and Minors, with Commodities being a small subgroup of very commonly traded pairs.

Majors and Commodities are the most liquid and therefore are the most widely traded currency pairs in the market. These pairings account for the vast majority of all trading within the forex market. This is due to the fact that these pairs have the largest volume of buyers and sellers, along with typically having the tightest spreads.

(See a full list of currency pairs with a symbol guide at the end of the article).

Commodity Pairs:

The commodity pairing are the three pairs that include currencies from countries that possess and deal in vast quantities of commodities. Commodities are raw materials or agricultural products that can be bought and sold. Common commodities include gold, oil, wood, natural gas, sugar, salt, tea, coffee, rice, wheat, iron ore, crude oil, silver, copper etc.

The three main commodity pairings are USD/CAD, AUD/USD, NZD/USD. The value of these pairs has a very close correlation to changes in the value of these countries commodities, this means that traders look to gain exposure to fluctuations in the commodities to take advantage of these pairs.

Major Currency Pairs

These are the most liquid currencies, meaning they are the most frequently traded pairings in the forex market. These pairs account for around 85% of total trading volume in the market, with the EUR/USD pair alone accounting for roughly 28% of total daily global volume. The spreads for major pairings are generally tighter in comparison to the less traded minor currency pairs. These are some examples of major currency pairs:

  • Euro vs. US Dollar (EUR/USD) nickname: ‘Euro Dollar’
  • British Pound vs. Us Dollar (GBP/USD) nickname ‘Cable’
  • US Dollar vs Swiss Franc (USD/CHF) nickname: ‘Dollar Swissy’
  • US Dollar vs. Japanese Yen (USD/JPY) nickname: ‘Dollar Yen’
  • US Dollar vs. Canadian Dollar (USD/CAD) nickname: ‘Loonie’
  • Australian Dollar vs. US Dollar (AUD/USD) nickname: ‘Aussie Dollar’

Minor Currency Pairs

These aren’t traded quiet as heavily as the majors, resulting in more fluctuation in value. Spreads for minor pairs are usually wider due to the medium sized liquidity in the market, these are some examples of minor currency pairs:

  • Australian Dollar vs. New Zealand Dollar (AUD/NZD) Nickname: ‘Aussie Kiwi’
  • Euro vs. Japanese Yen (EUR/JPY) Nickname: ‘Euro Yen’
  • Euro vs. Swedish Kroner (EUR/SEK) Nickname: ‘Euro Stokkie’
  • Euro vs. Norwegian Krone (EUR/NOK) Nickname: ‘Euro Nokkie’

Various other forex pairs will allow you to take advantage of macroeconomic events and political situations in specific international markets, such as the USD/MXN (US Dollar/Mexican Peso) and USD/CNH (US Dollar/Chinese Yuan).

Tips to Take Your Business Up a Level

You’ll start venturing into an uncertain territory when you think of lifting your business investment by one level up. Whenever you’re attempting to enjoy the fruits of your investment, you must be prepared to take some risks. Many of the traditional investors will stick to the age-old investment options that they are used to. Trying out the newer pastures will be a common thing for you when you try to real a much bigger goal.

Take the following steps when you want to pull your investment to the next higher level –

Acquire Knowledge Steadily

You can only take your business to the next level by acquiring more knowledge on your industry. It will also act as a booster for your career. You might face a number of challenges in your attempt to meet a few deals; for most of your problems, you’ll find quality solutions as you achieve proper information and study them. By educating yourself, you’ll even be able to avoid unnecessary risks. When you don’t acquire sufficient knowledge on a specific area, you’ll find it difficult to deal with its underlying challenges. Big challenges are posed by residential apartments and large commercial properties. You won’t need to spend much time while gathering specific information and studying certain areas. All of your doubts will be clarified when you read articles, join online seminars and share queries over authentic blogs and professional forums. You mustn’t hesitate to clarify doubts before stepping a foot forward.

Contact Industry Experts

Investing in big housing complexes and similar commercial projects carries considerable risk and seems a bit complicated. For a large section of investors, it doesn’t seem right to move in this direction. They have the right vision. Dealing in large projects isn’t the beginner’s cup of tea. Seeking expert guidance usually helps you take the right decisions. Professionals donning this field have the expertise necessary in filing the gap created by inexperience and little knowledge. Your career may be boosted as you improve by following the footsteps of these industry experts. Handling a deal that’s complex but lucrative takes a lot out of you; the experts have the right skill sets to do just that.

Sharpen Marketing Skills
Marketing strategies are the keys to the survival of a business. If your business doesn’t have any marketing strategies, then it’s tough for it to survive in the long run. In case you dream of being a successful businessman, then it’s truly important for you to develop your market strategies and execute them properly. In order to begin marketing your products in an effective way, you may use a direct mail. Once your direct mailing efforts are responded, you’ll contact investors, banks and other lending institutions. While you own a firm that operates in real estate Pune, you must do a detailed research on its core marketing and cash flow factors if you really want it to flourish.

All the tips mentioned above are bound to help you develop your business regardless of its nature. You must identify the vehicles that are important for increasing demand of your services and goods in the market.

Four Jobs that Sound Good but Pay Bad

We know that dishwashers, preparers usually don’t earn big bucks. But we have a notion that fire-fighters, attendants and cowboys, whose jobs sound interesting and glamorous don’t bring home much.

Rounding up flying the sky as flight attendant, entertaining people as a model, cattle as a cowboy or rescuing people from a burning building – all of them get paid less than even 47,000 USD per year – the median salary amongst American workers.

Let’s have a quick look at what they do and how much they earn in return.

Flight attendants – They can travel the world, meet new people, sleep in a new city almost every night, but when it comes to payment, they get very less considering their job profile. Though they earn a little more than other sexy jobs with low payment, such as job of a cowboy or model, they hardly earns more than 43,000 USD per year. Shockingly they get paid for only those hours they fly. They don’t get any overtime for delays, tarmac or even waiting around at airports. If you consider more than 650 million Americans fly each year, does this sound glamorous anymore?

Models – Unless she is another Evelyn Nesbit, Tyra Banks or Kate Upton – she can’t expect to earn any thrilling amount. The same applies to he-models too! People have a notion that models swim in cash, but in reality, they earn very less. An average model earns as little as only $20,000 per year. Can you imagine? Moreover, they don’t always get paid with money; they get clothes and accessories in turn for their time instead. And obviously that doesn’t sound chic at all. They might afford a house for rent in Vishakhapatnam, but they may not afford an accommodation in a prime American location.

Cowboys – History says that by the end of Civil War, the country was the only resort to about 5 million cowboys while today the number has slashed down to only about 32,000. They are becoming an extinct species in America as they can bring home an average of 19,000 USD only every year. This job often involves professional hazards. They often get physically injured and even stampedes are very common with them.

Firefighters – They get training to respond to emergency situations as well as save lives by rescuing them from burning constructions. They risk their lives for others. They work for the society. Unfortunately, they earn very less; even less than average American workers. While firefighting is one of the sexiest job profiles in America as per generation Y, firefighters earn less than 46,000 USD per year.

So this is the overall picture of these four so-call exciting, glamorous and sexy jobs in America. They often earn even less than average American workers. These jobs are not good payment busters at all. They are rather endangered. If the situation goes like this, the county may hardly find people to choose these jobs as their career.