Robert Testagrossa – Why NFTs Work So Well

Finance

NFTs are a hot topic at the moment and we are seeing many companies set up by experts like Robert Testagrossa which are focused towards the rising success of NFTs. This isn’t necessarily a new idea, it is in fact one that has existed for a number of years now, but in recent months we have see an enormous focus on this aspect of the blockchain.

Today then we are going to take a look into what NFTs are and why they work so well for all parties involved.

Breaking Down an NFT

To those of you who aren’t sure what an NFT is, this stands for ‘non-fungible token’ in layman’s terms this means that it is a digital product which is not fungible, or transferrable across the blockchain. We can use NFTs in artwork, music, event tickets and many other forms of token. Those who buy an NFT, in whatever capacity it takes, will be the sole owner of that token. This can be resold by the owner, but the address for the NFT will always remain the same.

Security

One of the biggest reasons as to why NFTs work so well is that they are an incredibly secure way of passing on and storing information. Back in the European Championships in 2016 we saw tickets being delivered as NFTs, which made them much more secure that paper tickets or even emailed tickets. This can also greatly help with concert tickets, which are often bought and sold by scalpers who drive the ticket prices up, and restrict people from having tickets. NFTs is a great way to solve this problem.

Control For Artists

In the world of art and music we are seeing time and time again that artists are not making the money that they should do from the work which they are completing. There are so many record companies for example who rake a huge cut from the artist’s work, as well as art houses who take a slice of artwork created. Using NFTs mean that the artists no longer need that third party in order to get their work out there. This gives them the power to release as many NFTs as they like, and it means that they will end up with an overwhelming proportion of the money which is made from sales.

Increased Demand

And finally, as more and more people learn about what NFTs are, and more and more professionals jump onto the possibilities of NFTs, we are going to see a huge increase in demand. This has already started of course and many NFT artworks are being snapped up each and every day, by people who perhaps usually wouldn’t. This increase in demand is great for everyone involved with NFTs.

The possibilities for this technology really are endless and in the coming years we are certainly going to be seeing big changes within the world of NFTs. What do you make of this new technology?

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Traynor Capital Management Reviews – Why You Should Trust Asset Management Companies

Finance

If you have a lump sum of money and you ask people what you should do with it, the large majority are going to tell you to invest it. This is all well and good of course but what gif you don’t actually know how or where to invest it? Even in such a situation you can still entrust your money to a great company which will help you to reach your financial goals.

I was looking for a capital management company a couple of years ago and after reading the Traynor capital management reviews, I knew that this was the firm for me. Many lack trust in asset management companies but here is why that is a school of thought which just isn’t correct.

Absolute Transparency

This is not a case of you handing your money over to someone and then waiting for months on end to fin out how they got on. In fact from the moment that you invest with them you will have absolute transparency in all that they do with your money. These companies se up dashboards which you are able to use to assess where your money is being invested and what the current star is of your investment. This is certainly something which builds trust between you and the company.

Risk Management

The level of risk which they take with your money is entirely down to you, and when you first invest with them you will have a full discussion on what you are looking to achieve, and how much risk you wish to take. This can be altered at any time and you can also select a certain risk based on a particular percentage of your money. This gives you absolute control over the level of risk which you are going to take.

Tight Regulation

The days of investors and brokers going rogue is all but over in the modern world, because this has happened too many times before. The result of this is tight regulation which means that nobody acting on your behalf can do so without making things crystal clear with you. We just spoke about risk, which is a great example here. Should the firm take on a larger amount of risk than you have agreed with them, and lose money as a result, you will have complete protection because of the tight regulations which are in place.

No Point

Ultimately, there really isn’t much to gain from robbing investors in the short term. If this happens then the company’s reputation will be in tatters and they will never be able to make money again. These businesses are set up with integrity and the more money that they are able to make on your behalf, the more money that they will make for themselves. This again is why there should be absolute trust here, because there is no point in acting in bad faith for them.

Trust the experts and let them put your money to work.

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What Are Alternative Credit Scoring Models?

Business Finance

If your business offers credit to customers, it’s vital to verify whether a potential customer is likely to be a ‘good’ borrower. To do this, companies typically use credit scoring to assess whether or not to lend to an applicant. Therefore, the credit scoring model you use has a major impact on how many customers are offered credit and, ultimately, the success of your business.

Although companies have traditionally relied on data from credit bureaus to assess an applicant’s creditworthiness, there are now new and innovative ways to determine whether an individual is likely to be a ‘good’ borrower. Read on to learn more about alternative credit scoring models and how to use them…

How Do Alternative Credit Scoring Models Work?

Traditional credit scoring uses a fairly limited range of data to determine a person’s creditworthiness. In contrast, alternative credit scoring models use data from a wider variety of sources. A credit bureau might calculate a person’s credit score based on their banking history, mortgage payments, and wages, for example, but overlook things like mobile payments, rent payments, and/or cryptocurrency payments. By incorporating these elements and other types of data, businesses can obtain a more accurate credit score and make more profitable, low-risk lending decisions.

Essentially, traditionally credit scoring is an outdated way of assessing a person’s creditworthiness. An alternative credit scoring model incorporates the wide variety of factors that make up an individual’s financial situation and, therefore, gives lenders access to the data they truly need when making decisions.

Are More People Approved via Alternative Credit Scoring?

When you use alternative credit scoring models, it can mean that a higher percentage of applicants are approved for credit. However, this doesn’t necessarily equate to organizations taking higher risks. In fact, many alternative credit scoring companies have collated data that shows lenders reducing their losses by switching to this innovative method of credit assessment.

Crucially, alternative credit scoring can ensure that people who would unnecessarily be denied credit due to outdated, traditional methods of credit scoring are no longer overlooked. Someone who rents a property has no direct debits or even no bank accounts would typically find it difficult to obtain credit when traditional credit scoring systems are used, for example. Despite this, they could be a low-risk applicant with outstanding financial management skills.

By using a wider range of data to assess them, an alternative credit scoring model gives the lender a more accurate overview of their viability as a borrower. As a result, lenders can tap into this lucrative target audience while providing borrowing opportunities to individuals who have been historically penalized through no fault of their own.

Incorporating Alternative Credit Scoring into Your Business

If your company is already credit scoring potential customers, switching to an alternative credit scoring model is a simple transition. Whether you develop bespoke software, use a SaaS platform or install a suite of analytics programs, incorporating alternative credit scoring into your business can be simple, straightforward and highly lucrative.

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Is Saving Money Your Strong Suit in Life?

Finance

Saving money is something that many consumers try their best to do.

That said it does not come as easy for some folks as it does others.

When you need to save some money and still get enjoyment out of life, how do you attack the matter?

By being smart with money, you can enjoy a happier life more times than not.

How Can You Improve Your Finances?

In looking for more success with money, here are a few things to think about:

  1. How can you save more? – When you are searching for more ways to save, leave no stone unturned. This means you look for a myriad of ways to save. Do you get online all that often? If not, you are missing out on some great resources. Use financial expert blogs, videos, podcasts and more. They can be a great help to you in offering you tips on how to keep more of your hard-earned dollars. Also turn to outside family and friends for their money-saving advice.
  2. Capturing deals when you can – Have you done a pretty good job of capturing deals over the years? If not, now would be a good time to start doing so. As an example, if you like to travel, be it day trips or longer excursions, are you locking in savings? From Disney Dose Disneyland discount tickets to sports, concerts and more, find deals. You can also find deals in your local grocery store. Given the amount of money consumers tend to spend on food and related items, those bills can add up rather fast. Make sure you are getting the best savings possible. Many brands offer rewards cards. As you build up points over time, you are rewarded with savings.
  3. Don’t let interest fees eat into finances – One of the worst things you can do is to let interest fees eat away at you. That said you should make sure you pay off any bills in full whenever possible. This means you avoid those fees that so many companies tack on. If you have a credit card with a sizable balance and you are only paying the minimum each month, those fees will add up. When they do, you might as well be tossing money out the window.
  4. Thinking about the future – It goes without saying that you need to have one eye on the future as it relates to money. With that thought in mind, are you doing enough to save for retirement? It is important to make sure you have as much money as possible socked away for when that time comes. If you fail to do this, you could end up in financial trouble. That means trouble with healthcare expenses, your living arrangement and more. Work with a retirement specialist now to prepare for when the day arrives you are retired and do not have a regular paycheck coming in.

As you navigate the financial roads of life, is saving money your strong suit?

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Tips for Achieving a Debt-Free Life

Finance Money

Some 189 million Americans have credit cards with the average balance per household being $8,398. Keep in mind, that’s just credit card debt. We haven’t mentioned mortgages, car loans or student loans.

Sadly, debt is so prevalent in America, most people consider it a way of life.

However, it is possible to live without it.

Here are some tips for achieving a debt-free life.

Create an Emergency Fund

If you have yet to do so, make it a priority to put away at least three to six months of your monthly expenses as a hedge against income disruption or large unexpected expenses. Having this money put away will enable you to weather such instances without incurring more debt — or at least as much as you would have otherwise.

Prioritize Paying Off Debt

As common sense as this particular tip may seem, most people have no idea how to do it.

Let’s say you’re one of those people who have four credit cards, with the total balances adding up to $8,398. Let’s say the balance on one of the cards is $3,000, another one is $2,500, another one is $1,500 and the last one is $1,398. Now, let’s say the minimum payment on each of those cards is $50, and you’ve been paying $100 per month on each one.

That’s a mistake; it’ll take too long to pay them all off that way.

The Debt Snowball

Instead, make the minimum payment on all of them except the one with the $1,398 balance. This will afford you $250 monthly to pay toward that one, which will help you pay it off more than twice as fast as when you were only paying $100 monthly.

Once you’ve eliminated that balance, you’ll have $300 monthly to put toward the $1500 balance, which will also have been being paid down at the rate of $50 monthly while you were killing the first account. Repeating the process with each successive card will give you the entire $400 to put toward the highest balance when all of the others are cleared up.

You’ll pay off all four cards much sooner than you would at the rate of $100 monthly on each one.

By the way, this works with car loans and mortgages too.

You can eliminate all of your debts with this method.

Debt Consolidation

Another way to approach debt elimination is with a credit card consolidation loan. While it might seem a bit backwards to make debt to get rid of debt, there are situations in which credit card consolidation can make sense.

You have to make sure the consolidation loan you take will let you pay your debts off sooner than you would by paying them individually. You’ll also want to seek a lower overall interest rate and a lower overall monthly payment.

Focus on Saving and Investing Next

With your debt eliminated, you can turn your attention to preparing for the time when you’ll no longer go to work every day. In other words, it’s time to start building your retirement fund.

We recommend eliminating debt first because the interest you’ll pay vs. the interest you’ll earn tends to be higher. Eliminating debt effectively means your money earns more interest afterwards — thus it’s a good investment.

Create a Spending Plan and Stick to It

One of the most fundamental of the tips for achieving a debt-free life. Creating a spending plan helps you ensure your money is working for you in every way possible, as opposed to against you.

Your goal should be to live on 80 percent of your income or less, while saving/investing at least 20 percent or more for your long-term goals. This becomes easy to accomplish with your debt laid to rest. Plus you’ll be able to save more so you can make subsequent purchases in cash, rather than charging them.

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5 Potential Risks to Take Into Consideration Before Investing In Precious Metals

Finance Money

A wise and thoughtful financial decision can do wonders for your business and savings, whereas a poor financial decision can result in a serious downfall. Small or big, one must do detailed research work and take into consideration all the risk factors involved before investing in precious metals. These decisions once put into action, cannot be changed, and the metals become a liability instead of an asset.

Here are the 5 potential risks to take into consideration before investing in precious metals.

STORAGE

You’ll need to store your physical metal somewhere. With a stock or bond, you don’t have to worry about storage. There is always a risk of theft or loss if you store these metals at home. Also, it will be a risk to you and your family in case someone breaks in.

The other selective is to rent a space to store them. That space would provide a safe and trusted storage facility. This incurs additional cost but leaves you worry-free and safe from theft and injury. You can always choose to invest with the help of mutual funds and stocks for precious metals; however, they would not reap the same fruits as the physical metal would.

One must always buy precious metals from genuine and trusted suppliers who are industry leaders & have a proven track record to support their authenticity.

Indigo Precious Metals, for instance, is very transparent about their policies and pricing and takes great pride in the level of customer service they provide to their clients. Since these metals are so precious and involve a great amount of your hard-earned money, you must be very cautious while you plan to use them.

LIQUIDITY

If you hold non-physical precious metal, you cannot encash it immediately. In case of immediate cash requirement, you’ll have to seek other means of investments for help.

There’s one solution to this drawback, and that is online storage. With an online storage account, you could sell your precious metals at any time. This helps in instant liquidity.

NO INCOME OR INTEREST

Unline stocks, bonds, or real estate that provides interests, dividends, or rental income, there is no income or interest in owning any form of precious metals.

This is just an investment that can give no regular benefits unless sold when the prices are high. In case you require money on an urgent basis, then you might even have to incur a loss if the price is low compared to the price you purchased it in.

MARKET RISK

Precious metal investments are exposed to various types of market risks. There is no doubt that something you invest in will face price fluctuations from time to time. It might decline in value due to economic developments and various other events that influence the general economy.

POTENTIAL SCAMS

When it comes to precious metals, having the correct understanding is quintessential. You may end up losing hundreds or thousands of dollars even. Do thorough research and learn a few things about how to test the true value of the metal you have purchased.

Such a heavy investment can only be encouraged for someone who has all the details about genuine metals, including where to invest and whom to trust. Considering the lofty cost of precious metals, you just cannot afford to ignore these essential facts.

Trust only genuine suppliers and be 100% sure before investing. Read various articles, blogs, testimonials, crosscheck multiple times to make sure there is no scam involved. It’s your money, and only you’ll have to take the best care of it by making the right choice of genuine investment.

So, keep into consideration all the above factors and make decisions wisely for a happy and secure investment. Trust only genuine and industry leaders in such investments.

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7 Tips for Choosing an Online Stockbroker

Finance Money

If you are new to the world of investment, selecting a stockbroker that aligns with your own personal needs and investing style can define your success or failure. If you want to make money through investing, you need a brokerage service that is in line with your investment goals, level of experience and educational needs. Choosing a broker who has a diverse range of features and tools like those that are found on the FXTM web trader can make all the difference in your new venture.

While all investment should be based on research and skill, the first step on the way to profitability should always be finding the right online brokerage service for your particular needs. That is why we have decided to put together a short guide to help you assess what it is that you personally require from your ideal brokerage. Read on to find out more.

1. What Are the Broker’s Fees?

The first question that you will probably ask when choosing a broker will probably have to do with fees. There can be a significant difference between what online brokers currently licenced in to operate in South Africa charge in trading fees, commission, spread, financing rates and currency conversion fees. It is best to shop around in order to compare prices to see what type of fee structure best suits you.

2. Does the Broker Deal in the Assets Types That Interest You?

Finding a brokerage that allows the option to trade in the types of financial instruments that interest you is crucial. While most online brokerages deal in stocks, bonds, mutual funds and ETF, only a select few allow you to trade in futures, options and forex. Make sure you check that you a brokerage has the trading options you want before you go through a lengthy verification process.

3. Are There Available Advisory Services?

If you are new to trading, the jargon that you have to get to grips with can be bewildering. You are probably going to need a bit of guidance or at least a sounding board to which you can the field questions and queries that you have about how things work. Many of the better online brokerage services today will provide you with tutorials and account managers to help you on your way to becoming an expert.

4. Which Type of Account?

There are two main types of account that are generally offered by online brokerages. A cash account will allow you to deposit funds and then buy stocks to the amount of money that you have in your account. A margin account, on the other hand, allows you to borrow money from your broker to buy stocks with leverage.

5. Does the Platform Include Research Tools?

Make sure that your broker operates a system of research tools that you feel comfortable with. The charts and graphs showing stock price changes over time should be easy to use and give you all the information you need to feel confident that you have covered all the bases when you buy into a position.

6. How Good is Customer Service?

It does not matter how good an app or service is, there may still come a time when you need to contact customer service to clear something up. When this happens, there is nothing more annoying than not being able to get in touch with a human to straighten the issue out. Choose wisely as some of the cheaper online brokerage services run customer service with limited hours as a means of keeping trading costs competitive.

7. Do You Want Banking Services?

Many stockbrokers offer the opportunity to open a checking account. If you think this will be more convenient for your situation, do some research into what kind of deals these brokers are offering on banking services and how they compare to your current bank.

You may not realize it now, but your choice of online stock broker could have a large impact on how successful you are as a trader. If you answer all of the questions in the sections above before signing up to a brokerage service, you should ensure that you get the one which best suits your particular needs and trading style.

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Saving for a rainy day? 4 ways you can look after your money and save it

Finance

We’d all like a little more money each month. But in today’s financial climate it’s certainly not easy to save for a rainy day and it’s only going to get harder. If you’re isolating at home, you may be feeling a little uncertain about your job security and your future, which is why saving as much money as possible has never been more important.

Whether you’re in between jobs, waiting for your benefits to kick in, how long does it take to get SSDI back pay? (Click the link to find out) if you’re wondering if you’ll have a job to go back to when all this is over, here you’ll find some useful saving tips that will help you make the most out of your current financial situation.

Do you really need new clothes?

We all have our vices and for some of us, spending money on clothes that we don’t need is certainly a habit that needs kicking. Whether you want a new outfit every time you head out with friends, or you like to have several pairs of gym leggings to choose from each day, clothes spending can quickly spiral out of control. Instead of spending money on new clothes, take better care of the ones you have! Consider the following:

  • Having damaged clothing repaired
  • Following the care instructions so they last longer
  • Shop second hand or swap for other items

Food, glorious food

Food takes up a huge chunk of our monthly budget. Saving money on food is easy, but believe it or not, you don’t have to stop eating the things you love to save money. Consider the following ideas:

  • Always shop with a list and a specific budget
  • Never food shop when you’re hungry
  • Create a meal plan for the week
  • Buy ingredients like rice, pasta, chopped tomatoes and sauces in bulk
  • Make freezer friendly meals

Go through your bills

We can all make savings here and there on our utilities and other expenses. Price comparison websites are your friends here. But don’t forget to compare the following:

  • Your broadband
  • Phone package
  • Water, electricity and gas
  • The items on your food bill
  • Your home, contents and car insurance

Sell, sell, sell!

Old clothes, toys, books, games, DVDs and other household items. If you don’t want them, someone else might. So, place these unloved items online and see how much money you could earn.

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Reaching Financial Freedom Through a Side Hustle: Things You Can Do to Change Your Life

Finance

Reaching financial independence is something many of us dream of, and people often fantasise about the luxury of being able to never worry about money. However, this is only practical if you’re motivated and have the time to do something on the side. Side hustles have been something certain individuals do without even thinking, while others simply stick to their day job. There is absolutely nothing wrong with not wanting to earn more money and spending time with your family at home rather than taking on another work commitment. Still, one of the best ways to create financial stability for yourself and your family is to do something else that can help towards special occasions and luxuries. 

Certain side hustles will cost nothing other than a get-up and go mindset, whereas others require the initial start-up capital in order to make it successful. Regardless, you should think about the side hustle you’re starting before you decide on what will work best for you. Only do a side hustle you’re passionate about and know will bring you financial stability in the long-term to keep you going.

  1. Start a Business

There are difficulties and complexities when it comes to starting a business, but if you’re determined enough to make it succeed, you will! Start a business with an idea you feel will benefit others and something that you’re passionate about at the same time. It’s not difficult to think of ideas either, especially with the availability of the internet and countless opportunities on there. Ensure you officially set up your business with HMRC if you’re serious about making some good money from it, as it’s a legal requirement to do so. 

Whether you want to sell some custom made jewellery or you think a recruitment business is the best way to go, get started and set up a business plan. After you’ve done it, get going with your plans and ensure you put all your efforts into it. Bear in mind, if you’re starting a business as well as having a full-time job, you will be busy at times, but that’s why this is ideal for people who love to keep active and motivated!

  1. Invest in Property or Stocks and Shares

Investment has long been considered one of the top ways to make money and reach financial independence. It is, for this reason, we have added both property and stocks and shares investment into this side hustles list. With property investment, you can take a hands-off approach, which means you’ll effectively make money passively and won’t have to worry about tenant demands and issues. However, with investing, despite what you’re investing in, you will need some initial money to use. Property company RWinvest have a range of guides, blogs and podcasts to help you with any initial research you will do before investing. Their website is full of interesting and innovative ideas for you to make use of. As an investor, you need to be sure you’ve got a good company and team behind you in order to succeed, which is why conducting due diligence is vital before handing any money!

  1. Start Freelancing

Do you have a skill or talent you could offer out as services to people who may need your help? Freelancing has become somewhat popular in the last few years as people need more money for luxuries and wish to save for other aspects of their life. Freelancing may not get you to the point of financial independence in the short-term, but if you’re persistent and make the most of all the opportunities that come your way, you can save up your income and eventually have a pot of savings to use if any emergencies occur. The best freelancing websites such as Upwork and Freelancer are great for starting your career as they offer a start-up platform for people who may never have freelanced before and don’t know where to begin. 

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4 Financial Goals To Have By Age 40

Finance

Reaching the age of 40 is a significant milestone in someone’s life. For most people, they expect to have a family by then, have bought a home, and have an established career. Getting to the age of 40 for most people means that they’ve carved out a fairly comfortable life for themselves.

One of the best ways to ensure that you set yourself up for success is to set financial goals for yourself. When you’re in charge of your money, then you’ll have a stronger grip on your life in general. Here are some of the most important money goals that you should plan to have accomplished by the time you reach 40.

Career Development

Many people have already comfortably settled into their jobs by this age, but that doesn’t mean you should stop aspiring for more money in your career. Money may not be able to bring you happiness, but it can certainly make things a lot more comfortable if you’re already happy.

A great goal to have is investing in the development of your career goals so that you can reach your maximum salary potential. There are several ways to do this between continuing your education to getting specialized by learning additional skills.  

Get Rid Of Your Debt

The older that you get, the more your debts will start to weigh down on you. It’s in your best interest to get rid of debt as soon as possible By paying off old debts that you owe; you can start putting that money towards your retirement instead. That way, you can enter your senior years comfortably and ready for retirement. The last thing you want to worry about at 80 is unmanageable debt. You will have worked your whole life; it’s essential to enjoy your life! 

Put Aside A College Fund For Your Kids

In the United States, college doesn’t come cheap. It’s helpful as a parent to put aside a college fund for your kids for their education. By the time your 40, you should make it a goal to have put away a nice amount for the time that they’ve finally graduated. The sooner that you begin, the more interest will add up.

Take Out Life Insurance

While 40 is hardly considered an age that you’re at risk of kicking the bucket any time soon, it’s undoubtedly the time to start thinking about insuring yourself. As your family grows, you want to make sure that they’re taken care of if anything were to happen to you. Taking out life insurance may not be a fun thing to think about, but it’s essential to have the peace of mind knowing that if anything happens to you, your family will be well looked after. 

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