financial – Page 5 – Luv Saving Money

What Is A Gold IRA?

One of the most important steps that people need to take to protect their financial health is to save for retirement. While there are lots of options that people can use to save for retirement, one example is called an Individual Retirement Account, also known as an IRA. Some of the most common IRA examples that people know include Roth IRAs and regular IRAs. One commonly overlooked option is a gold IRA. This is an important retirement savings vehicle that people should know.

What Is this IRA?

Also called a precious metals IRA, this is an Individual Retirement Account that uses gold and other approved precious metals as a way to benefit the retirement savings of the account holder. Like other IRA options, there are rules regarding how and when someone can withdraw assets from the IRA. In contrast to a regular IRA, which holds papers and other virtual assets, a precious metal IRA holds bars and bullion coins. This is a self-directed IRA, meaning that it is run by the account holder instead of a third-party. Furthermore, this type of IRA also allows the account holder to have access to more diverse investments.

What Can Be Held in this IRA?

If someone has a precious metals IRA, there are four separate items that can be held in this account. They include gold, platinum, palladium, and silver. These items must be held in an IRS-approved bar or coin form. Without a doubt gold is the most common item purchased, leading to the name of this account.

Why Does Someone Have a Precious Metals IRA?

The main reason why someone might want to have a precious metals IRA is that this can be used as a hedge against inflation, helping people manage their risk. Over time, the value of paper money is going to drop due to inflation. For example, the price of a gallon of milk today is far greater than it was fifty years ago. This is largely due to inflation. While paper money loses value over time, precious metals do not. For this reason, this type of IRA can be a valuable asset for those looking to save for retirement.

Use an IRA to Save for Retirement

A precious metals IRA can be a key retirement vehicle. It is critical for everyone to plan for the future. This means taking care of their financial health using an IRA.

Spend $15 on Household Supplies Get $15 Back At Staples: Here’s How

Toilet paper, paper towels, window cleaner, hand sanitizer, hand soap, bleach, the list goes on. Many of us buy these items for our households. I really don’t want to think how much Americans spend on these types of items a year. I try to buy when it’s on sale or I have a coupon.

This deal is great if you’re new to TopCashBack. Spend at least $15 on household products at Staples and get $15 cash back!

Step 1:
OFFER LINK
Using my link, signup for a FREE TopCashback account.This offer is for new TopCashback members only.

Step 2:
Follow the directions listed on the offer page to purchase. You must spend at least $15.00 to receive $15.00 cash back.

Step 3:
Within 7 days of purchase, $15.00 will appear in your TopCashback account. You’ll be able to withdraw this within 14 days of purchase. You can withdraw the money straight to your checking, PayPal, or claim as gift cards.

Tips:

Important: Check your email to confirm your email address. Click on the link in your email to authenticate your new account.
Want to purchase more than $15.00? Make a second transaction instead of adding more to an existing cart to maximize additional cash back.

Terms & Conditions:Note: Transactions must contain at least $15.00 worth of purchases to ensure the $15.00 cash back is credited to TopCashback accounts. Transactions may initially track lower, but within the 14 days after purchase it will be uplifted and turn payable at the amount of $15.00. Transactions may take up to 7 days to appear in your TopCashback account. The deal is open until 11:59pm PST on 5/24/2020 or until supplies run out; whichever happens first; applicable for purchases made directly after clicking through TopCashback. Only one TopCashback account is permitted per member. Cannot be combined with other TopCashback freebie offers. Do not close the window, open any new tabs, or use non-TopCashback approved coupons while checking out.

It’s a Good Time To Invest With Webull

The markets be a little scary lately. Watching the the market is like watching a rollercoaster. But this can be a great time to invest. With stocks lower than normal you can grab the stock you’ve been thinking about but haven’t quite pulled the trigger on.

Webull makes it easy to invest. Even giving you free stock when you start investing. In this way, you can get even more bang for your buck. How much free stock? Anywhere from $12 and up to $1400 in free stock! That’s not a bad deal right?

Why Webull (other than the free stock of course)? Webull offers:

$0 Commission and $0 Minimum Deposit
Free Real Time Quotes
Multiplatform Accessibility
Full Extended Hours Trading (Full Pre-Market 4:30 am – 9:30 AM ET and Full after hours 4:00 PM – 8 PM ET)
24/7 online help
Powerful Charting Tools with 44 technical indicators as well as 12 charting tools designed to help you analyze trends

I know it can be a little intimidating to start investing but Webull gives you the tools you need to learn and invest wisely. Start investing and get your free stock today!

This post does contain affiliate links. I will get a small commission from sales made through my links.

Credit Card Debt During A Pandemic with Saxton Associates

As of 2019, 184 million Americans actively used credit cards according to TransUnion. The average American owns 3.1 credit cards according to Experian. And the credit card balance total for all Americans? A whopping $1.05 trillion as of February 2020! That’s crazy.

Of the US that currently uses credit cards, 42% percent carry a balance month to month. And what is the average balance for consumers? Over $6000!

Want to know what’s even crazier? Americans paid $121 billion in interest to the credit cards companies. That’s a lot of money! That is up 7% since 2018. I think it’s fair to say with the pandemic, some Americans not working, and panic buying that credit card debt could go even higher.

So who are the biggest offenders? As much as I hate to say it, it’s my generation, Generation X. My generation carries the highest credit card balances. While people want to get down on Millenials for different reasons, they actually carry the lowest credit card balances. I know my sister in law is a Millenial and she’s into this “minimalistic” lifestyle. I mean Millenials aren’t even using top sheets right? Millenials also, on average, have less credit cards that Gen X and Baby Boomers. In fact, Baby Boomers, on average carry the most credit cards at 4.8.

Want to know how your state stacks up with credit card debt? Check out this infographic:

With more and more Americans currently relying on credit cards and other financial devices in these uncertain times these number could climb with record highs. Don’t let yourself get into financial trouble.

I realize people gotta do what they gotta do but when this is all over get your credit straightened out before it takes you down. Saxton Associates can help.

Delinquency rates peaked in 2009 at nearly 7%, but in 2019 delinquency rates were 2.6%, historically well below the long-term average.

Credit card debt becomes delinquent when a bank reports a missed payment to the major credit reporting bureaus. Banks typically don’t report a missed payment until a person is at least 30 days late in paying. When a consumer doesn’t pay for at least 90 days, the credit card balance becomes seriously delinquent. Banks are very likely to take a total loss on seriously delinquent balances.

Check out these ways to consolidate credit card debt too.

This post is sponsored by Diamond Links.

4 Steps For A More Secure Financial Future

Between household bills, unexpected expenses and trying to save, it can seem like you never get closer to securing your financial future. Luckily, financial security doesn’t have to be an elusive dream. There are steps you can take to help you move closer to making it a reality.

1. Develop a Budget

The first place you need to start is by developing a realistic budget. After all, you can’t adjust spending and start saving if you don’t know how much you actually bring home each month. Find a comprehensive budget worksheet template and then gather together bills and receipts to get started. Be sure to include everything you spend on throughout the year because it can be easy to overlook annual premiums when you are planning.

Resist the temptation to focus exclusively on your future and ignore present needs and wants. For most families, a budget should allow a little room for fun and entertainment. Otherwise, you run the risk of feeling deprived and may abandon the plan too early to see positive results.

2. Pay Down Your Debt

Once you have a handle on what you make and spend, work at paying down your debt. Look at every dollar you spend in interest as one you don’t get to invest and earn interest on. Two common methods are the debt avalanche and debt snowball method. They both require you to really focus on paying off one balance at a time, but they differ in how you choose which one to work on first. Check them out, learn the differences, and see which one works best for your family and lifestyle.

3. Purchase Life Insurance

Take a minute to think about what would happen to your family if you were to get killed in an accident tomorrow. Would they be able to afford your housing and vehicle payments? For most people, the answer is a resounding no. That is why life insurance is so important. Guaranteed acceptance term life insurance can be a viable option even if you have had trouble securing a policy in the past.

4. Save for the Future

With a firm grasp of your budget, it is time to look toward the future. Set up educational accounts for your children and ask family and friends to contribute to them for birthdays and holidays. Chances are younger children won’t miss the gifts, and they will really appreciate the lower cost of college when they are older. You are never too young to start saving for retirement, either. If you don’t have an employer-sponsored plan, explore traditional and Roth IRA options and see if one is a good fit for you.

Taking the time to lay out a budget is an important first set to taking charge of your finances. Having the right savings and investment accounts will help bring it all together.