Invest vs Pay Down Debt

I found this calculator on practicalmoneyskills.com. By using this calculator you are able to figure out if you should invest any monthly surplus or pay down debt. Click here to see the calculator.

Advertisements

Budgetting for Travel

Do you need to get a better idea of how much you will need to spend on a trip ? Fear no more; simply go to practicalmoneyskills.com and look for the Travel Budgeting Calculator or click here. I plan on visiting Toronto Canada at some point this year so something like this can come in handy. I hope you enjoy it and please feel free to leave a comment. I want to be sure that information provided on this blog is useful.

Drew Brees Plays Financial Football

italyFound this video on PracticalMoneyskills.com. I deeply urge my visitors and readers to explore the website. The most useful part of the website is using calculators to estimate how much you will pay when taking out a loan and other financial products; it’s full of knowledge. To watch the video of Drew Bress quarterback of the New Orleans play financial football click here.

What does a 5yr Know about a Budget ?

This is a funny video I found on Youtube where a five-year old kid talks about budget the video was created by GreatAm Financial. Watch it and it will make you realize how important it is to be financially literate.

Click here to watch the video.

FranchiseExpo.com

I was looking at CNNmoney.com this morning and in the corner of the homepage I saw something called Franchiseexpo.com. This is a website where people interested in buying franchises can start exploring what they want to buy. The good thing about franchise is that it carries less risk than an opening a new business. Just remember that ‘less risky’ doesn’t mean that it doesnt carry a risk at all. Some of the franchises offered are Filta Environmental Kitchen Solutions Franchise according to its own description, “Repeat customers, repeat revenues, multiple service offerings to each customer. Our services are set up to provide solutions to some of the most problematic areas of the kitchen. We remove the hassle and liability of some of the least desirable jobs, and do them in a safe, efficient, clean, and cost-effective manner. Customers enjoy benefits such as: cleaner fryers, longer oil life, less waste, more consistent food product, happier staff, less employee accidents and claims, reduction in insurance premiums, no more smelly waste oil bins out back, and an overall more efficient operation.” Another thing to remember about these franchises is that its expensive so if you lose money in a franchise there is no guarantee of return. For example Enviromental Kitchen Solutions has Franchise: $31,000 and an Investment Level:$50,001 – $100,000 plus royalty fees of $525/month. They are not cheap and still carry a risk so before you go on buying a franchise start thinking about what you will do in the event that it fails ( how much loss can you take). Afterwards, start thinking about who you would market the product to and where. Click here to read the full article.

What about stocks

What they are

■ Stock symbolize possession of a corporation. Stockholders possess a share of the company and are permitted to a share of the profits as well as a vote in how the company is run.

 How earnings are made

■ Company profits may be divided among shareholders in the form of dividends. Dividends are typically paid quarterly.

■Larger profits can be made through an augment in the value of the stock on the open market.

Advantages

■If the market value goes up, the gain can be substantial. You could buy a stock at $20 per share and in months or days it could go up to $40 per share which means you made a $20 profit.

■Money is easily accessible.

Disadvantages

■ If market value goes down, the loss can be substantial.

■ Choosing and managing stock often necessitates study and the help of a good brokerage firm.