Money Management Guide

On survival blogs and forums, buying junk silver coins is gaining momentum due to uncertainty in the financial markets. The term “survival silver coins” is a term giving by people who believe that the bottom is going to fall out of our monetary system and that it’s a prudent move to have an emergency supply of food, water, clothing, and money to survive the possible closure of the US banking system. Having an emergency supply of silver in your possession is like having an emergency supply of food and water. So what is “survival silver”? Prior to 1965, US coins were minted with 90% pure silver and today these worn and circulated coins are referred to as junk silver. These coins contain 90% silver.  They have withstood the test of time as real money and will continue to do so even if the US dollar becomes worthless because of the underlying value of silver.

Most people who buy silver bullion coins do so for three main reasons-as an investment vehicle, a hedge against inflation, or for survival purposes. The concern of most people is the safe return of their money as opposed to the rate of return. Governments that start out with good intentions become hungry monsters that eat up their citizens savings through taxation and inflation.

The Secrets To Finding Discount Silver

Independently Owned Coin Shops

Honestly, I would go to your local coin dealer first. Getting to know your local coin dealer will compliment your online buying by providing you with personal service and instant knowledge of current market conditions. The benefits of personal relationships with local vendors will be priceless during turbulent times. I make it a practice to buy both locally from several vendors and online for my precious metals. While I am not well known to any of them, they know me because I often bring in both of my boys to look for rare coins.

Though I prefer local coin dealers for buying silver bullion, I also buy silver coins from online dealers to spread out my silver buying from various sources. You can find incredible deals online for survival silver that is just pennies over the spot price.

Golden Eagle Coin Dot Com

Golden Eagle Coin is a locally owned company started by two coin enthusiasts that has grown into one of the most respected gold and silver companies in the United States. Golden Eagle coins caters both to numismatic buffs and silver investors. Golden Eagle coin has a small business feel and you will be treated as well from them as any local coin dealer.

I have purchased a $100 face value bags of half dollars and quarters and need to increase my supply of dimes for making change.

Reasons Why Owning Silver Bullion Makes Sense

People who purchase gold and silver coins for survival purposes are expecting the worst case scenarios that have happened throughout the centuries. I am not one given to conspiracy theories. It seems that everyday there are new stories about financially struggling nations. The United States Government via the Federal Reserve has tripled the money supply essentially making each dollar worth approximately 1/3 of it’s value. Since the US dollar has already outlive the average life expectancy of 27 years for a fiat currency, experts are starting to see signs of failure as the Federal reserve keeps the virtual printing pressing rolling.  In 1971, President Richard Nixon took the United States off the gold standard to keep foreign nations from turning in their excess dollars and exchanging them for gold.  By doing this, he started the run up on the amount of dollars in circulation competing for goods and services.  The run up is more commonly known as inflation.

Paraguay and Argentina barred the doors to their banks in 2002 to prevent a run on their currencies. The few people that had the foresight to save part of their money in hard assets like gold and silver fared very well. Eventually, the banks opened their doors and the people could withdraw only limited amounts of cash from their accounts. During the bank closure, the currencies of both countries sank in value. At the same time, neighboring Brazil had financial difficulties of it’s own and defaulted on a large portion of it’s international debt.

Similar to a forest fire burning excess ground cover and dead trees, the free market when left to do it’s work cleans up the financial chaos. No matter how hard the government tries to tinker with their currency, the free market will eventually prevail by crumbling the fiat currencies as well as the governments. Unfortunately, dictatorships often take over the failing government.

I am not an expert on any of these political matters. I have read what has been repeated dozens of time throughout history by greedy politicians and corrupt bankers. When economies fail, people will still need to eat food and drink water to survive.  Business will still be conducted.  However, it will not be business as usual.  Some people will prosper as this has happened during every major financial catastrophe in in history.  Survivalist prefer tangible assets that have practical uses such an automobile, garden tools, fuel, land, or livestock. Having items that have practical use will be just as good as owning precious metals to conduct your day to day business

Morgan silver dollar gold coin, one of the silver bullion coins dealt in by precious metals industry, has a fascinating and rather tumultuous history behind its minting, circulation, ban, reissue and recirculation. It was first minted in the last quarter of the 19^th century, in the year 1978 with the passage of the Bland-Allison Act that had made it mandatory for the treasury to procure at least $2 million to $4 million worth silver per month and mint it into coins to be circulated in the market. The reason behind this was that the country followed a silver standard then and the farmers plus the other professionals believed that due to the increase in the circulation of the Morgan dollar, the inflation level will go higher, which will ultimately be beneficial to them.

The Sherman Silver Purchase Act of 1890 increased the monthly amount of silver to be minted into coins to 140,000 kg for the next one year. The inflation and ultimate recession that ensued in the country led to the bankruptcy of major industrial and financial institutions, prompting the then President of the US to do away with the Sherman Act and mint all the silver in the country into coins so as to tap the increasing inflation. By the year 1904, the US Mints had minted all the silver procured under the Act into silver Morgan dollar and thus in the year 1904, the production of the Morgan dollar was stopped.

Are you wondering about the history of investing in the Morgan Silver Dollar?  In the year 1918 an act for resuming the production of these coins with a different design was passed and those that were dated 1921 were called the Peace Dollars.  Neither Peace Dollars or Morgan Silver Dollars are eligible for either the gold ira or the silver ira.

At Merit Financial and other precious metals companies, good accountants will tell you that these Morgan dollars are so called because the assistant engraver at the US Mint, George T. Morgan had designed them? The obverse side features a Liberty head, which is essentially the face of a teacher at a Philadelphia school. Date and “E Pluribus Unum” are printed on the obverse side along with the stars on the rim.

On the reverse side, there is an Eagle with its wings outstretched, holding an olive branch in one talon and a bunch of arrows in the other. The words “In God We Trust” along with the denomination and weight of the coin are printed on this side. The denomination of the Morgan dollar is $1 and there are many of them available because the US Treasury and the Federal Government did not call for their destruction or removal out of circulation even when they were not being minted. In the year 2006, Morgan silver dollars were minted to commemorate the foundation of the Old Mint at San Francisco. On the observe side of these coins, a picture of the old mint at San Francisco is there.

As a parent it’s important for your kids to get a good financial education on how money works.   It’s also important to be a good role model in showing them how to properly save money even when starting at a young age, after all are kids money habits tend to be a direct reflection of are own.

However you also need to consider where you want to save money for your child as well.  A few places that come to mind are your local bank savings accounts, a certificate of deposit, or even a money market account.  However one that I suggest over all others is the ING Direct Kids Savings Account, and in this article I will show you just why this account is the way to go.

First off, the reason the ING program is the best kids savings account is because it’s all done online, allowing your kid to be a part of the entire process in showing them why saving money is so important.

Next, saving money for your child is also an investment in their financial future.  Today doing even just the normal things in life from going to college, to getting married, to buying that first home cost a good amount of money and by getting your child started early they’ll have a much higher chance of succeeding in life.

Third with the ING Account your child will earn a 1.00% variable interest rate.  Now I know that don’t sound like much but if you can tell me any other savings account that is offering more than that I would like to know about it.

Fourth, with the ING account you don’t have to invest a certain amount of money up front to open the account, in fact their is no minimum balance you have to maintain to fund and open the account.

Fifth and finally, their is no fees involved with the ING DIRECT kids savings account.  This means more saving for your child over the long run.

In the end the ING Kids Savings Account is a good financial investment for your child.  To get started today check ING DIRECT today to open your account.

Bankruptcy is very often the last resort for those who are financially overwhelmed as it can wipe out most types of debt, but it comes at the cost of a severely damaged credit report. It can cause your score to drop enough to make it difficult to qualify for a loan or mortgage, rent accommodation, or even be given a promotion at work.  There are many websites explaining how to remove a bankruptcy from your credit report, but do these tips really work?

First of all, you have to acknowledge that claiming personal bankruptcy enables you to have your debts discharged and start over with a clean financial slate.  This comes at the cost of a credit score damaged by as much as a few hundred points and a reference to the bankruptcy that will remain on your credit report for 10 years for a Chapter 7 filing and 7 years for a Chapter 13 filing.  This mark is designed to ensure that people do not abuse the system by repeatedly filing for bankruptcy the moment that they max out their credit cards.

If you wish to hire a company to remove a bankruptcy from your credit report, or if you wish to do it yourself, the process involves disputing negative marks on your report.  The burden of proof is on the credit bureau to prove your error and according to the Fair Credit Reporting Act anything that can’t be verified must be deleted from your record.  Although the credit bureaus have 30 days to respond, they do not all keep internal records, therefore they are sometimes unable to provide the verification and are forced to erase the negative marks.

Keep in mind that erasing negative marks will increase your credit score, but the bankruptcy will still appear on your record.  Companies that claim to sell you the secret of how to remove a bankruptcy from your credit report are all rather shady and you will probably just end up spending money to increase your score by a few points.

For more information on the personal bankruptcy process including information on how much is it to go bankrupt, please visit claimingbankruptcy.net.

Foreign currencies do not behave like gold in these times. While the precious metal is showing relentless growth and has risen by nearly 300 per ounce in last 14 months, foreign currencies today keep fluctuating far above the general currency-pair average calculated over the last few decades. Since the world has become increasingly global, your currency dealings are also exposed to a greater spread. Moreover, with high volume transaction, operational hedging is also getting more difficult by the day.

Think about the transnational companies conducting business on foreign shore. if they are just exporting their goods, currency deprecation in their home country may provide a boost to export but if their production house is in the other country and they pay through the currency of other country for production, this export saving is bound to be offset by increased production cost.

Those who deal in Exchange-traded funds also sometimes keep their foreign exposure “non-hedged”. While this can bring greater profits, it can also create an atmosphere of volatility and heavy losses. Foreign exchange risk is always there because currencies are continuously fluctuating. Moreover, at any given time, a political or a military coup or slowdown can create a serious dip in rates. The only solution to minimize this risk effectively is to hedge the exposures.

On a relatively unrelated note, Forex managed accounts are doing pretty well today. These are quite different from stocks and commodities but can ensure you about 10 percent per month if played well. These Forex accounts trade off-exchange and there is a fear of volatility. This is where the need for managed retail foreign currency market arises. Those business houses or individual portfolio holders who are looking to diversify but find time constraints can also go for these accounts. Managed Forex accounts let you play and profit without involving yourself.

Our current economy has turned many people to studying, and learning new ways to build wealth. It is both practical, and important for you to understand the best ways to manage your finances, so that you are prepared for whatever may come your way. Here are 5 practical ways you can increase your finances, and seek stability when it comes to your cash flow:

• First, start out by making it a habit to set aside a portion of your earnings each month. Try for at least 10-20% of your savings to be put aside. If you struggle with saving your money, you can consider having an automatic withdraw made on your account each month, so that you will be less tempted to use that money elsewhere.
• Second, aim to get out of debt. Make it your goal to pay off your house, cars, and school loans. If you are in serious debt with credit cards as well, then it may be time for you to obtain a debt consolidation loan. The loan will balance your debt, and help you to pay it off once and for all. If this is the case, then make it a priority.
• Another are that is important, is to find ways to build a passive income. There are hundreds of different ways, but the idea is to create an income that takes little or no maintenance, and continues to bring in money even when you are not working. A few ideas include creating stabilized web sites, or investing in real estate such as rental property, etc.
• Try to find ways that you can work for yourself in addition to your job. For example, you can create a work at home business that focuses on internet based work. Data entry, web design, graphics, online photography classes-the possibilities are endless. The goal here is to create your own source of income that you have full control over within your home.
• Consider investing your money in stocks, or even dividend stocks. If you are new to the territory of investing, then you may want to consult a financial adviser. They can help you choose the best option for your family.

With these practical tips, and information you can be on your way to a more stabilized financial future.

The inflation rate is a government calculated analysis of how much your money has decreased by percentage over he last year. Yet the inflation rate does not truly reflect the real loss of percentage that currency undergoes every year. So what is wrong with the way the current inflation rate is calculated and how could it be fixed.

The inflation rate is a selected amount of items from the Consumer Price Index, that are averaged and configured to determine if money has lost or gained a percentage of purchasing power each year. It sounds quite simple, yet it is not really and the way in which the current inflation rate is figured is not a true depiction of the rate of inflation.

The first problem is that a selected amount of items are chosen, the problem with this is it could be items that will naturally go down such as useless things. You would think that the inflation rate would include things such as your food, gas, and electricity but it does not.

No not the things you have to use and purchase every day that would be the best indicator of what your money is really buying. The reason for this is because it is said that the items are to volatile and thus would not give an accurate depiction of the inflation rate.

But these are the items you are guaranteed to not only purchase every year, or season, or month, but every day. It would be thought that these items would give the most accurate depiction of the inflation rate, at least food and electricity, at least one should be included yet non are. The second problem with the inflation rate calculations is the fact that the items numbers are averaged.

The averaging of items is most odd because if you have a useless items like a giant big screen T.V. and something people use all the time averaged then you will get an inacurate depiction of your money, what its buying, and its purchasing power. In the long run inflation is typically a few points higher than what is reported.

It is important to know that the increase in everyday items is not hurting the rich, but the poor and middle class. So the inflaton rate reassures you that you are doing fine, that it is not that bad, yet you are suffering more every day to just buy the necassary things.

A fixed asset annuity may be the best way for you to make sure that you are able to live the way you want during retirement. While you may have spent a significant amount of time thinking about retirement, people usually fail to plan according. However, without the best plan, you will not be able to take advantage of all the financial instruments that are available to you. Understanding the fixed annuities pros and cons will help you to determine if these are for you. Where you put your money matters, you want to make sure that you are getting the most from anywhere that you put your put. Speak with a professional and obtain advice that will allow you to select the option that would best help you accomplish your goals. One basic thing that you should understand about retirement is the fact that you will need to do more with less.

When you no longer have a paycheck coming in, you will need to create some passive income in order to stay on top of your bills. If you accomplish this by just spending money that you do not have, this would be a very big mistake. Since the average person is living several years more than they did in the past, it is very likely that your savings will not last you for the rest of your life. As such, you need to be careful to only spend your savings in situations that are very important. While living on a fixed income is possible, a fixed asset annuity can help you to find some additional money that would allow you to buy the things that you want in life. Once you know the fixed annuities pros and cons, you will see that this is the best financial instrument for your future.

Nowadays, it’s difficult to live by if you don’t have money because almost everything is for sale and you need money to pay when you buy an item.

This can pose difficulty to those who are short of money and are encountering money problems. Asking for financial help from friends and loved ones is often a last resort when you have nowhere else to turn. Even though it’s kind of embarrassing to do so, you have to say “I need money today for free” or else you will be left in a dire situation.

To ensure that you will not be asking for financial help in the future you have to know the best way to save money. Lack of money can be due to the lack of self-discipline of the individual especially about his/her spending. If you really want to save money, then you should not overspend. Orient yourself that you will not spend on things that you don’t really need.

Saving money and being more frugal requires hard work and commitment and takes time to getting used to because it means adjusting your lifestyle. It may be difficult at first, but it will offer you benefits in the end, so it’s worth sacrificing.

You can also save money if you recycle things that are still usable. Also, if you can manage to do thing on your own, don’t hire anyone or ask friends to help you to save on cost. To monitor your expenses, make a list of your spending so that you can pinpoint the areas where you can save. It will be very difficult for you to save money if you don’t budget.
Additionally, making more money can help a lot and you can do this by holding a garage sale, work online and do a part-time job. It may not be very big, but it can contribute to your savings.