Checking Accounts and Bad Credit

If not being able to get loans and credit cards wasn’t enough, a bad credit rating can even be a barrier when it comes to acquiring a checking account. A checking account is a necessity these days as you simply cannot keep all the cash you have, on you all the time. Unfortunately, banks see people with a poor credit score to not be financially strong enough to even pay up on bank charges. They, of late, have been referring to the credit history of their applicants before granting them an account. The points described below need to be kept in mind while scouring for such an account.

Bank Charges

Few banks will be willing to allot you a checking account with checks, if you have a bad credit score, but the ones that do will surely try to make a bit more money off you. And they know that they can either biff you off and tell you to come back when you have an acceptable credit score, or use this opportunity to trap you with high charges for running your account. After all, since no one else is ready to offer you an account, they have a monopoly and can dictate terms with you.

Online Checking Account

This is another option worth exploring. Internet banking accounts generally ask for a lower credit score anyway, and can often brag about lower bank charges and transaction costs, as compared to physical accounts. They will, of course, ask you to maintain a minimum balance in your account all the time. This means you may or may not be able to avail the overdraft facility. Of course, it is always better to open an online checking account with a more reputed bank. They may charge a higher fee but you can rest assured knowing that your money is safe.

Investment Account

Of course, if you’re at a pretty low ebb with your credit score and the physical or online checking accounts are simply not coming your way, investment accounts may just be the last option you get to park your funds. The idea is a simple one. Investment accounts will require you to maintain a large minimum balance, but at least you don’t need to keep all your extra money lying around the house and you can give it to them for safekeeping instead.

Checking accounts really make managing money a lot simpler and hence, it is really important to have one. Now that you know the options at your disposal, you can go ahead and apply for one right away.

Ways to Make Money Without a Job

Tre Cool, the renowned drummer of the American band Green Day says, “I never completed high school and I am very rich and very successful.” Education is important, but it’s not mandatory to have a regular job to be successful. A daily 9-6 working hours routine doesn’t always guarantee you a step upwards in the ladder of success. You need to explore your caliber and channelize all your efforts in the direction you want to take. It can be music or sports, painting or acting. The beginning might not be a walk in the park, but hard work can definitely make you successful. The other option to make money is to begin with certain activities that will fetch you dollars, and later on you can make a change.

Earning money can be easy if you are well informed about the different ideas and options that can help you in this direction. You can achieve this by pursuing your hobby as a career, or taking up some temporary work available in the society. Given below are some ways to make money without doing a job.

Creative Instinct
If you have creative abilities, just explore them. Use your painting, singing, or dancing skills to teach others. Put up hoardings or advertise online. Be patient and see the results. Teaching handicrafts and photography is a good option to make money fast.

Blogging
This one of the best options to make money online. Just start a blog having relevant content, news, and the latest buzz. Sign up for Google AdSense to get posted with ads. Every time the ad gets clicked, it will fetch you bucks.

Freelancing
If you have a passion for writing, opt for online freelance writing. There are numerous websites that look for freelance writers. Join their site and work from home. Choose the topics that you are passionate about to bring out the best in you.

Business
Starting a business requires more intelligence than money. If you have an inclination for business, plan for a joint venture with your relatives or close friends. Women can start a pickle business, design boutiques, and crafts. Men can opt for software or delivery businesses. The quickest way to make money is to start a website business.

Tutor
One of the best ways for college students to make money is to take up some teaching classes. You might have passed out of college recently and are looking for a job. Make an attempt to take coaching classes on subjects you are good at. You can also opt for online tutoring.

Computers
If you have in-depth knowledge about computers and systems, you can start a software or hardware center. Within a few months, you might begin to get a lot of students who are willing and wanting to learn computers. Advertise about the courses in newspapers, hoardings, on the television, and the Internet.

Departmental Store
Working part-time at departmental stores is one of the easiest ways to make money. Retail outlets, grocery stores, book stores, etc. offer part-time jobs. This gives you an exposure to dealing with customers and will add to experience for the future.

Others
Some other sources of income are babysitting, home delivery, vehicle washing, shoveling snow, pet care, yard cleaning, driving, and bar tending. Go ahead with writing an ebook, reviews, web designing, selling products, and freebie trading to earn money over the Internet.

Use your talents wisely instead of sitting idly and waiting for a pile of cash to flow to you.

Fastest Ways to Make Money

With growing inflation, many people these days are searching for ways to earn extra income by working for a few more hours apart from their regular jobs. Though, some succeed in doing so, many fail to discover the fastest ways to make money. Here are some of the ways, which can help you upgrade your lifestyle.

Stock Market Transactions

It is a well-known fact that, the stock market is one of the quickest ways of earning money. On a given day, a trader can buy shares of companies at lower prices, and get phenomenal returns by selling them at higher levels on the same day. However, it also depends on the market conditions and overall profile of the company you are investing in. You can also earn quick money by taking delivery of the shares and selling them at upper levels after a few trading sessions. However, only those traders who have a deep knowledge of the markets can succeed in short-term trading. Knowledge of the company fundamentals and results, company news and technical charts of stocks, can help traders earn more in a very short period. However, one should note that, stock markets are volatile and hence, only experienced and knowledgeable people can earn money in this way.

Doing Labor Jobs

You can take up jobs like watering the garden, cleaning residential and office spaces, plumbing, painting, washing cars, etc. These jobs can also be done on a part-time basis by continuing with your main job.

Online Jobs

With the advancement of Internet, many online jobs are being offered to people above eighteen years of age by multi-national and other companies. Jobs such as content writing, creative writing, data entry, can help you to make some quick bucks. The best thing about these jobs is that, you can earn decent money even by working three to four hours a day. The only thing you have to take care of is that, the company with whom you are associated with, should be legitimate. You will get several opportunities by conducting a proper research on the same.

Become a Street Performer

Street performers, who are good at activities such as magic, singing, mimicry, and dancing can earn good money by displaying their skills at crowded places. Here the pay depends on your performance. Also, this job can help you earn more in large cities as compared to the smaller ones.

Become a Salesman

Becoming a salesman of a renowned company is also a good idea. You can earn fast money by selling the products of the company to potential buyers. In addition, you can do the job independently by making some easy products such as greeting cards and toys, and selling them at the right places. Salesmen need to have good communication skills, interpersonal skills, and marketing skills to become successful.

Teach Small Children

According to the earnings survey, the incomes of teachers was found to be better than many other professions. Apart from good work environment, here you will also get job satisfaction by teaching small kids.

Besides the above mentioned ideas, there are many more ways, which you can discover yourself. One should remember that, money can be earned easily, if you put steps forward in the right direction and work hard.

How to Make Extra Money During the Summer

During summers, people, especially the teens, get into a partying mode, spending money or going on vacations. Working to earn a little money is out of the question for them. However, in these uncertain economic times, every penny counts and earning a little extra is a great option especially if you mix work with fun. You don’t have to search for a job, rather do what you are interested in. This will not only help you enjoy earning money, but also gain expertise in what you have always liked to do.

Fun Summer Jobs

– If you love golf or want to learn it, become a caddy for a golf course. You are definitely going to make pretty good cash from this high profile game.
– Deliver newspapers. This consumes only a few hours of your time. When not delivering newspapers, opt for some complementary work like watering gardens, mowing lawns, walking neighborhood pets, etc.
– If you have a lot of things that you don’t use, and they are lying in your backyard adding to the waste, hold a yard sale. Sell all the things you don’t require and get money for the things you do need.
– There are a lot of seasonal positions vacant in hotels, resorts, parks, etc. especially in summers. Many of these places hire just for the season and pay good wages.
– If you are good at shopping and in creating unusual gift ideas, specialize in a shopping service. There are organizations that fear the time-consuming task of gift selection, wrapping, and giving. They will love to pay a good wage if you offer them your services.
– If you love pets, then instead of walking neighborhood pets, you can start a pet escort service. It doesn’t require any investment at all. There are many people in the society today, who don’t have enough time, like elderly people and working professionals, to care for their pets. The services include walking the pet, taking it to the vet, grooming, etc.
– Work from home. There are opportunities to become a virtual assistant, or a marketing assistant who is outsourced.
– A very interesting job is to become a freelance writer. If you think you’ve the ability to express your thoughts well, and have an extremely good command over grammar, spelling, and communication, becoming a freelance writer for newspaper, magazines, or various websites is another option. You can find thousands of such writing and editing jobs daily.
– You can offer to clean homes, during the day and offices at night. It will surely increase your profits.
– If you are sound in studies and basic fundamental concepts, volunteer to teach kids.
– If you know another foreign language, offer to teach it to kids or at some school. Knowing a foreign language is in demand and people will pay you well to learn it.
– Sometimes teachers take leave from schools for various reasons. Step in and volunteer to teach till the teacher comes back. Check out with schools to see what requirements they looking out for.
– If one is an ardent photographer, possess a good camera and the pictures come out uniquely well, try out photographing people’s children, weddings, anniversaries, parties, etc. You can also upload few good pictures on appropriate sites, and get paid each time anyone uses them.

There are some summer jobs for teens also, which can earn them good money. Try to get referrals from your existing clients. They can help you reach out to masses and advertise your availability for a particular job. Now that you know how to make extra money during the summer, you can use these ideas to collect and save cash for your wishlist, and have a great time simultaneously.

Easy Money-making Ideas for Teens

Making money for any teenager may not always appear as an easy task. However, that does not mean one needs to feel disheartened about the same. Teenage years are the ones where youngsters love to live a spirited and carefree life. But, this is also a phase when teens can know about the importance of money and learn to value the same. Therefore, there are many parents who believe their teenagers would learn the ropes of a professional life by working at an early age. Well, teens can surely make money in the holiday season once they get the hang of certain things. Take a look at the easy money-making ideas for teens which are given below. However, remember not everything is easy and would require a lot of hard work as well!

4 Ways to Make Money

Well, babysitting and mowing lawns may not always give you the allowance you are hoping to receive. In order to find a job that pays you well, the first step is to do some research. The second step is to go over our list of easy money-making ideas given below.

Garage Sale
If your mommy has been hollering about clearing the garage or cleaning your room, you can see the positive side in this situation. Collect all the items you don’t really require but cannot discard. Hold a garage sale and sell items such as toys, old gadgets, books, or clothes!

Tutoring
Are you good at your studies? A home tutor is very much in demand and this can earn you a decent amount on an hourly basis. Besides, you always remain in touch with your subject and the joys of teaching are an added plus point!

Arts and Crafts
A creative teen can come up with many easy ways of making money. Arts and crafts can provide many ways for this purpose. The beauty of art is that every object is unique in itself. There are plenty of craft ideas one can come up with, which can be used to make money and derive creative satisfaction. A talented teenager who knows how to paint can create paintings and display them in the garden! Someone who loves to design handcrafted jewelry or clothing can make these with the odds and ends around the house! Your family and friends will love these items and chances are, you would soon be receiving plenty of orders for new creations!

Cooking
Cooking is a great stress buster and teens that love the idea of making good food can even sell some of the food items. You can bake cookies or try out some different food recipes with your mom. You can join hands with a friend planning for a yard sale and sell these food items over there. People coming it to look at the various objects on display would love to munch on yummy cookies and guzzle on delicious, icy cold lemonade!

Use your skills to the maximum. Are you good at giving swimming lessons or are you a natural with the piano? Think about your hobbies and plan accordingly. This will give you many money-making ideas.

These ideas may help you to earn loads of green bucks, but wait a minute! Now comes the tough decision. Save and think before you spend. A good idea would be to give a portion of the money to your parents and spend the rest on things you really need. This would surely help you to have a balanced approach towards life in the future! Have fun!

Creative Ways to Make Money

The more you get, the lesser it seems. That’s what money is all about for many people. We wait endlessly for our increments, and we always want those extra few bucks to splurge on things we need, or rather, desire. While jobs always give a certain kind of stability, many people travel that extra mile to make more money. Some of them employ creative ways to generate an extra income so that they have some cash in hand. Definitely, today’s mantra is all about green bucks. The paragraphs below enlist some creative ways to make money.

Freelance Writing

– If you have a flair for writing, you would surely believe that the pen is mightier than the sword.
– With the popularity of the Internet and social media, new options are being opened up in various segments.
– Writing reviews, blogs, articles, online content, etc., will help you make money and keep the creative juices flowing as well.
– You can look for reliable websites that will publish content.
– Freelancing for certain companies can give you the option of obtaining work on a long-term basis if your writing is appreciated.

Selling Handmade Greetings and Paintings

– If you can draw or illustrate well, you can create beautiful and exclusive greeting cards and paintings.
– Handmade greeting cards always have that personal touch that is not depicted in the customized ones.
– Use new techniques and create some meaningful paintings. Survey the market to know the choices and budget and plan your work accordingly.
– This will also help you stay in touch with your creative side while filling your pockets simultaneously.

Freelance Photography

– If photography is your hobby, and your current job has nothing to do with it, use your talent to start a related business.
– If fashion is your forte, you can start with stylish portfolios.
– You can specialize in a number of categories, whichever is within your interest and your budget and time constraints.
– Or perhaps, you could utilize your holidays to click stunning images of nature and look for magazines or websites where you can sell your work.
– You can start your blog and publish your photographs online as well.

Catering Business

– Do you love to cook? Do you have the right business acumen?
– If yes, you may get into a catering business.
– To begin with, look out for specific areas in your town where there is a lack of good eat outs. Here, you can set up your own snack station and cater to a select crowd.
– You can start off with a small-scale business if you have the finance and the zeal to do something different from a regular job routine.

Miscellaneous

– Teenagers and youngsters can also find creative ways of making money.
– They can opt for gardening or care for their neighbors’ kids as well as pets.
– Girls who can cook well can look out to supply their homemade stuff at local stores.
– Those with a flair for designing clothes can begin by creating clothes and providing their designs to design stores. There are many design houses on the lookout for new talent.

Use the above ideas to make money and have a great time by projecting your creativity. If things work out, you can even have a very lucrative small-scale business where you can make money the fun way!

How to Make Money with Postcards

In October 1869, the postcard was born in Austria. Thanks to Raphael Tuck, a German printer and lithographer, the postcard became a popular mode of sending and receiving greetings in Europe. In 1873, the US government issued plain postcards for a cent. However, the monopoly of the same was broken when commercial picture postcards were issued in 1893. Sadly, when World War I broke out, the golden age of picture postcards came to an end. However, today there are clubs and groups that are reviving that lost glory.

If you are stocked up with a postcard collection and don’t know what to do with it, here are a few ideas that could put your beloved collection to use and help you make some money out of it too!

One of the most popular ways is to find out if there is someone who would be willing to part with a large number of postcards. The postcards could be photographs, illustrations of modes of transportation, sports, important personalities, and so on. It could be anything that holds one’s interest and could be sold easily.

There are many online malls, which allow you to buy the postcards outright, or place a bid on select cards. Else, you can purchase cards from someone who is willing to part with his or her rare collection of cards. Once you collect enough cards with you, segregate them into two categories – the ones that could be sold easily, and the ones that could take a bit of time.

Once they are segregated, you need to price them. Before you do that, it would be wise to check the prices on the Internet, or consult someone who is an expert in this business. You could then post an ad on one or more online advertising sites. Else, you can submit your cards and the price tag to one of the malls on the Internet.

This can become your new hobby too. Instead of selling out the entire collection, you could keep certain cards for yourself, and later you would have quite a large personal collection of beautiful and rare postcards.

Where to Look for Antique Postcards

Some antique shops and bookstores trade postcards. If you search the boxes in your attic, you may sometimes come across cards from the past. There are many clubs and groups that actively promote the hobby of collecting cards. They would help you getting in touch with the other collectors. A club would allow you to display the stamps that you want to sell and also purchase the cards that you put up for sale.

The cards, which are in great demand and make big money, include advertising cards that belong to companies such as Coca-Cola and Cherry Smash. Macerated money-cards, cards of the former US presidents, sports teams, and art nouveau are a few popular types of cards.

Before you spend money on postcards, it is advised that you consult an expert. He or she would be able to guide you accordingly regarding the present-day commercial worth of such. For instance, of the hundreds of postcards issued before 1914, only a few were popular. You have to do a bit of research before plunging headlong into the serious yet fun business of making money using postcards.
Read more at Buzzle: http://www.buzzle.com/articles/how-to-make-money-with-postcards.html

How to Invest in Distressed Debt

Possessing wealth is not enough. You also need to invest it in a proper manner, if you wish to enjoy it for a longer period. Most people go for some kind of investment to grow their money. People who are willing to take risks, put their hard-earned money at stake and invest in high-risk investment options like stocks, mutual funds, etc. Those who wish to play it safe, go for a fixed but low-return instrument like bank deposits. No matter what investment option you choose, it is imperative that you think logically, before investing your money in it. You simply cannot afford to allow your investment to shrink due to volatility in the economy. Distressed debt is yet another investment option for the enterprising folks, who are willing to take risks.

How Does it Work?

Distressed debt refers to the bonds of a company, which is not doing well financially. The company might have already filed for bankruptcy or could be heading towards one. When the company faces a financial crisis, it can choose to sell its bonds to new buyers, in order to attract capital. Thus, it simply means investing in the bonds of a failing company. In such a scenario, the company usually sells its bonds at dirt cheap prices. This is often the last resort to recover from a financial turmoil. Mostly, these buyers are financial entities such as mutual funds, private equity firms, brokerage firms, hedge funds, and specialized debt funds. These entities have their own criteria, which enables them to invest in the right companies. They usually check a company’s background on the basis of following parameters:

– Does it have any legal problems?
– Does it have overextended debts?
– Are there any operational issues?
– Has it been underperforming?
– Does it have potential for recovery in the future?

Returns

Returns on investment are usually high, if you invest in the right company. Such buyers are more interested in buying the debts of a company, rather than its equity shares. This is because in an event of liquidation, debt owners are given priority over equity holders, meaning that debts are liquidated before equity. The buyers often get a good return on their investment as the debt liquidates at a much higher price than its initial selling price. If the company survives, then the buyers have a greater stake in the restructuring of the company. Mergers, takeovers, and internal restructuring are some of the ways of resurrecting a failing company. If the company does well after reorganization, the investors can still claim a profit share.

Risks

Just like any other investment option, distressed debt investment is also not free of risks. Although, buyers of such debts often make neat profits, they may have to endure huge financial losses in certain cases. If the company does not perform well, even after restructuring, then the investors may not get any return on their bonds. During liquidation, the proceeds may turn out to be pretty expensive, thereby reducing the profit margin drastically. To minimize the risks, you need to thoroughly analyze the financial situation of a company before investing.

Distressed debt investment is exclusively for those who possess the requisite knowledge and acumen. It is definitely not for the novices in the field of investment.

Investment Advice for Beginners

Ideally, most people would like to earn money with as little effort as possible. Risk averse individuals, with sufficient liquidity, may consider depositing their money in Money Market Accounts (MMAs) that offer a rate of return that is comparable to the interest earned on a CD (certificate of deposit). Unlike a CD, there are no penalties for early withdrawal from a MMA. Moreover, the money that is deposited in a MMA is insured. Hence, people who are risk averse, have sufficient liquidity, and are interested in regular withdrawals would do well to deposit their money in a MMA in lieu of temporary financial investment.

How do Beginners Choose their Investments?

Stock Investments
Stock investment/trading confers upon the investor the opportunity to reap dividends and earn by way of capital appreciation. The preferred stock investing strategy, viz. capital preservation or capital appreciation, will determine the kind of (shares) investment that should be pursued by someone who intends to play the market. Investing in companies that are in the mature growth phase of the business cycle, and have been undervalued by the stock market, will result in the investor earning dividend income in addition to capital gains. In case of dividend-yielding stocks, the intrinsic value of a share is assessed using the Dividend Discount Model (DDM) while the return on investment (ROI) can be calculated using the following formula:

Return on Investment = (D1+P1- P0) / P0

D1 = Dividend Received
P1 = Selling Price
P0 = Purchase Price

Technical analysis may prove handy for those who are adept at reading graphs and charts, and looking for patterns and replications. Fundamental analysis, on the other hand, is useful for people who are comfortable with analyzing financial statements (10-Ks and the 10-Qs) in order to determine market timing. This is because investors relying on fundamental analysis believe that the price of a security may be mispriced in the short run, but will eventually correct itself over a period of time. Investors, who are solely interested in capital appreciation, should opt for growth stocks since value investing will not yield the desired results.

Mutual Funds Investment
Mutual funds are good investments for people who would prefer relying on the expertise of a fund manager. The latter raises money by issuing shares whose net asset value (NAV) is the difference between the fund’s assets and it’s liabilities. Price per share and NAV are equal if one invests in funds that do not have a front load. The money that is raised is invested in stocks, bonds, and other securities in accordance with the fund’s mandate, viz. capital preservation and/or capital appreciation. Interest from bonds and dividends from stocks, that are either distributed to the shareholder in the form of cash or additional shares, and capital gains from the investment fund are contingent on the ability of the manager to pick out appropriate investments.

Bonds
Investing in treasury bonds that are issued by the US government provides the bondholder the opportunity of receiving regular interest income. The government issues treasury bills, notes, and bonds; I Savings Bonds and EE/E Savings Bonds. Treasury Inflation-Protected Securities (TIPS) provides a hedge against inflation, so that the expected and the accrued ROI are the same. The aforementioned fixed income securities are exempt from state and municipal taxes but are federally taxed. In addition to these securities, municipal bonds, viz. General Obligation Bonds (GO) and Revenue Bonds are also worthwhile investments. It would behoove the investor to note that treasury bills are sold at discount to par, and the return to the bondholder is the appreciation in the value of the bill.

Alternate Investments
Investing in commodities in addition to investing in stocks and bonds is an excellent way of diversifying one’s portfolio, since the relationship between commodity price index and the price of bonds and stocks is generally inverse. In addition to commodities, options trading is also very profitable for experienced traders. However, these investments entail a great deal of risk and may not be suitable for a novice.

Hopefully, the above article would have provided useful investment advice for beginners. People who are uncomfortable with the aforementioned investments can try their hand at passive income opportunities, since leveraged and residual passive income opportunities are a dime a dozen.

Best Short-Term Investments

Short-term investments provide an opportunity for investors looking to make a quick buck without a long hold. They can result in huge profits within a short span of time, if handled cautiously.

High-Yield Savings Accounts

High-yield savings accounts are one of the most common forms of short-term investment. Nowadays, many banks offer such accounts with a higher APY (Annual Percentage Yield) and a much better rate of return than the local brick-and-mortar bank. Basically, it is a savings account at an online bank, and offers the facility of transferring money to and from the person’s checking account. However, opening this account is not an easy task, as the banks offer this facility only to certain valued customers. The investor should meet any one of the following criteria, in order to open such an account:

– He should make a sufficiently large initial deposit.
– He should limit his transactions.
– He should maintain a high average balance.

It is always advisable to first check with the existing bank, if there is any kind of facility which can yield better profits. In case, the bank doesn’t have anything to offer, one can check online.

Penny Stocks

Penny stocks are those that trade for less than one dollar. As compared to others, they are a riskier form of investment; however, the monetary returns can be substantial. The volumes traded daily can run into hundreds of millions for a sub-penny stock. In the past, some of these stocks have shown an enormous rise from 25 cents to USD 20, and on the other hand, there have also been cases when these stocks have become worthless. They represent all the small companies across the US, and are gaining popularity because of the comparatively smaller initial investment. They are powerful enough to turn a small amount into a big fortune. An example being Tim Sykes who has made millions from an initial capital of just USD 12,000. Trends provide an efficient way to find profitable stocks. They are basically a repeating pattern of the market, which occurs consistently over the history of the stock. On close observation, an investor can see smaller patterns that occur at consistent intervals, which can be used as guidelines to forecast future movement.

Low-Risk Stock Funds

Low-risk stock funds are also a profitable option for the short term. The ideal way to look out for them is to measure their volatility, by the standard deviation of their monthly returns, over a period of time. These funds also provide the benefit to buy a ‘n’ number of units, for a diversified portfolio. Before opting for a low-risk stock fund, the investor should get a thorough idea of factors such as the risk involved, profits, and tax-efficiency. It should be kept in mind that generally, these types of funds are of high volatility and low tax-efficiency.

One must remember that these investments need to be handled carefully. The time required to get the best benefit is usually very precise, and even a single mishandled purchase or selling opportunity can result in a big dent in its value. If required, one should take the help of a financial advisor.