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How to make Forex spread betting accessible to you

Money Easy to start and accessible, spread betting UK wide has grown in popularity. Forex spread betting in particular has attracted interest from traders all over the country, since it is a leveraged (or margined) product, which means that you are only required to deposit a small percentage of the full value of your position to place a forex trade. This means that the potential for profit, or loss, from an initial capital outlay is significantly higher than in traditional trading. They can go either long or short on their chosen currencies and can trade across a number of currency pairs. While Forex spread betting can be exciting, for newcomers, there are a few things to do before commencing trading. With advice from experts such as City Index, there is a possibility of being a successful trader.

The first thing any new trader should do is research their market. A combination of technical and fundamental analysis usually works: some traders follow one more than the other, as it works better for them. Over time, you’ll find which research style works for you, while doing so before each trade will help you when looking at each currency pair.

Creating a clear, easy-to-follow spread betting plan is vital. Doing so will prepare you for each trade you make, while simultaneously eliminating any indecision you may have in the event of not having a plan. When trading, it’s also important to make use of the many risk management tools at your disposal. They mean that any potential losses are limited to a pre-set level.

Tying in with any research you do, following the news constantly is imperative. Monitoring any stories which will have a direct impact on the market you’re spread betting on, and looking at the live market regularly is especially important with Forex spread betting.

For beginners in Forex spread betting, there are plenty of resources available online for anyone with an interest in getting into it. Websites of companies like City Index have everything you need to help get you started.

Choosing an eCommerce Platform to Sell Products Online

Business

According to the U.S. Online Retail Forecast, 2011 to 2016, a report conducted by global research and advisory firm Forrester, eCommerce sales in the United States topped $200 billion in 2011. This figure is set to rise by a staggering 62% by 2016, with the resulting $327 billion in annual eCommerce sales accounting for 9% of total retail sales. Spurred by innovative shopping models and online loyalty programs, the eCommerce sales channel is clearly benefiting from the increasing levels of comfort customers are feeling while shopping online. It’s not too late for companies of all sizes to reap the benefits of growth in this area. Assuming a product is ready to sell, the digital landscape boasts several eCommerce platforms and related services that will help companies to sell products online.

eCommerce Platforms: Several Flavors of Opportunity

eBay and Amazon: Ready Made eCommerce Platforms

Online retailers eBay and Amazon offer a quick and easy route for any business to start selling products online. The global reach of these sites means marketers gain immediate access to an audience of millions of potential customers. Despite increasing publicity in respect of the fees charged by the sites, particularly by eBay, a growing number of traders boast a turnover in excess of $1m. If nothing else, these platforms represent a practical opportunity for new companies to get started in online retail.

Shopify: Out-of-the-box Online Retail Stores

To date, over 20,000 business owners are using Shopify to realize the benefits of selling products online. This creative software allows businesses to use their own domain name, includes eCommerce hosting and an integrated shopping cart. It also boasts many online store designs customizable with over 100 ecommerce website templates. Payment for the service is made monthly with different plans available to suit businesses of varying sizes.

Facebook: Move Over Farmville

The phenomenal growth of social media has surprised most Internet users. With Facebook membership expected to exceed 900 million users by the end of 2012, a report from comScore, ‘The Power of Like, ‘ claims that customers are between 40 and 150 times more likely to consume branded content that is visible in their newsfeed than they are to visit a particular business page. Startups like 8th Bridge and Payvment are helping online retailers take advantage of this trend with the provision of innovative eCommerce solutions that encourage users to shop where they socialize.

Wordpress: It’s not just for Bloggers

While it’s true to say that WordPress was initially targeted at bloggers, it is now better described as a competent eCommerce and CMS platform. It’s a perfect option for those businesses who prefer to do things their way. Users can take advantage of free or premium eCommerce website templates and various WordPress plugins that will see their site turn from a basic blog site to a fully functional online retail store in minutes. Although all the potential eCommerce platforms discussed required that due diligence is given to marketing and optimization strategies, a business running its own online store should prioritize these aspects of success.

From Bricks to Clicks

The ‘clicks not bricks’ mentality is set to grow beyond the most idealistic of visions. Savvy business owners will give appropriate consideration to which eCommerce platforms will best suit their needs and that of their business. Many will come to the conclusion that the best solution is a combination of platforms.

This is a guest post.

Optimized to Go, Part 1

Business, Finance

Last weekend, we held a garage sale at my mother-in-law’s house. It was technically an estate sale, but we treated it exactly as a garage sale.

A week before we started, a friend’s mother came to buy all of the blankets and most of the dishes, pots, and non-sharp utensils so she could donate them all to a shelter she works with. She took at least 3 dozen comforters and blankets away.

Even after that truckload, we started with two double rows of tables through the living room and dining room. The tops of the tables were as absolutely full as we could get them, and the floor under the tables was also used for displaying merchandise.

Have you ever had to display 75 brand-new pairs of shoes in a minimal about of space? They claimed about 16 feet of under-table space all by themselves. Thankfully, the blankets weren’t there anymore.

We also had half of the driveway full of furniture, toys, and tools.

We had a lot of stuff.

Now, most people hold a sale to make some money. Not us. We held a sale to let other people pay us for the privilege of hauling away our crap. As such, it was all priced to move. The most expensive thing we sold was about $20, but I can’t remember what that was. Most things went for somewhere between 25 cents and $1.

At those prices, we sold at least 2000 items. That isn’t a typo. We ended the day with $1325. After taking out the initial seed cash, lunches we bought for the people helping us, and dinner we bought one night, we had a profit of $975.

At 25 cents per item.

We optimized to sell instead of optimizing for profit. At the end of a long summer of cleaning out a hoarding house, it all needed to go.

In the next part, I’ll explain exactly how we made it work.

So You’re Getting Evicted…

Business

Last week, I had the opportunity to visit eviction court, though not for anything having to do with my properties.

It was an interesting experience. Eviction court is a day when nobody is at their best. Landlords are fighting to remove bad tenants, sometimes questioning their desire to be a landlord, while tenants are fighting to keep their homes, often with no backup plan. Occasionally, you get someone who just wants to get out of their lease because the landlord is a creepy peeper who digs through the dirty laundry.

Nobody goes to eviction court in a good mood.

If you ever find yourself in eviction court, here are some things to remember:

Everyone

If you don’t show up, you lose. Period. Landlord or tenant, judges don’t like waiting around. You will get the worst possible outcome if you stay home.
The first day is a hearing. The judge will either accept a settlement between the two parties, or he’ll check if there is a valid reason for a full trial. The trial will be schedule for another day. In Minnesota, that happens within 6 days of the hearing.
Don’t make faces at the other side while they are talking to the judge. Do you want to go to jail for being a smartass? It’s called contempt of court.

Landlords

Fix the mold, rot, and other habitability issues. You’ll have a hard time getting your rent back if you are a slumlord forcing your tenants to live in a biohazard.
If you’ve got an automatically renewing lease, don’t file the eviction notice with the renewed lease for violations that happened under the old lease. If you do, you’ll be handing a win to your tenant.
Make sure you lease has an eviction clause. If it doesn’t, you may not have the right to kick out your tenant for any reason.
Your tenant’s dirty underwear is not a toy for you to play with. Creep.

Tenants

Pay your rent. If you are withholding rent to get something fixed, you’ll be expected to put that in escrow the day of the hearing, so don’t spend it on vodka or a new stereo.
Read your lease and the filing. It may have a backdoor that lets you escape the eviction.
Try not to get evicted. An unlawful detainer can make it hard to rent again for a couple of years.
Dress nice. I’m amazed by how many people showed up in ratty jeans and uncombed hair. Look professional. The judge will appreciate the effort.

All in all, it’s best if landlords and tenants try to keep each other happy. The whole business relationship will go much smoother if you do.

Debanking

Finance

I’m overbanked.

The National Bank, Oamaru, built 1871: a prostyle Palladian portico on a neoclassical facade (Photo credit: Wikipedia)

I’ve mentioned that before.

I won’t give up my herd of CapitalOne 360 accounts. I use those to track my savings goals, all 17 of them. I can’t drop my business accounts, my kids’ savings accounts, or the personal accounts that I actually use to spend money.

I do, however, need to simplify a bit.

Last month, I went through the hassle of transferring my 401k from two jobs ago and my IRA from my last job. Now, I’m down to just two retirement accounts. One is for my current job, and the other is a self-managed IRA with Sharebuilder.

Two down.

A few months ago, I went to yet another bank to close an account. My last job offered crappy health insurance, but balanced it out with an HSA. It complicated things, but the actual costs came to almost the same as the previous plan that didn’t have a high deductible. When I left, my HSA just sat there.

Last year, my oldest got braces, so I cleaned out the HSA ahead of time so we could pay up front and save 5% without paying interest.

Another one down.

That’s three accounts down out of 34.

Thirty-four?

Crap. That’s retirement accounts, business accounts, and personal accounts for two adults and three kids.

Bank 1 has the checking account we use, plus two savings accounts, one of which is where we store the rent money until we take a payday.

Bank 2 has a checking account, 16 savings accounts, and stock-trading account, a CD, and two IRAs for my wife and I.

Bank 3 has a checking account, and savings account for each of two businesses I own, a spare set of personal accounts, a savings account for each of the kids, and a checking account for my teenager.

Bank 4 holds nothing but my current 401k.

The only thing I can simplify without sacrificing my organizational jungle is to combine the personal accounts from bank 1 and 3. The problem is that Bank 1 has all of my bill pay information and there is still an account open for my mother-in-law’s estate. We keep that open just in case we find any other checks we need to cash. Bank 3 has my business accounts tied to my personal account and is the bank that my business partner uses, so that’s convenient to move money around.

I may be stuck.

Braces

Finance, Parenting

Grr!

Monday, I brought Punk #1 to the orthodontist. He’s got an underbite and some crooked teeth, but I didn’t realize how off it was until I saw the pictures they took. Some of the closeups could be inspiration for a Halloween mask.

It look like he started with a small underbite that made his teeth line up wrong, which–as they grew–accentuate the wrong. Now, it’s very, very wrong.

Next week he goes in to get his top teeth done.

At a cost of $5800.

If we pay up-front, they’ll knock 5% off, bringing it down to $5500. That covers everything, all of the follow-ups, broken hardware, every stage the whole way through. If we pay monthly, it will be $1450 down and $200 per month (interest free) for almost 2 years.

Almost six grand.

Fortunately, we knew this was coming, so we’ve been saving for this for a few years.

Unfortunately, we’ve only been saving $50-100 a month. We can’t wait much longer. With an underbite, you have more options if you do the work before the kid is done growing. I’d really like to avoid jaw surgery for him, so we have to make things happen.

Our braces account has $3100 in it. My HSA account has $875. That’s from my last job, so that’s as big as it gets. That leaves us almost exactly $1500 short.

I hate the idea of touching our emergency fund, although it does have enough money in it.

We’ve also got some money tucked away in an account leftover from my mother-in-law dying last year. I think that’s where we’re going to come up with the difference.

How else could we save money?

We could shop around, but this isn’t something I want to give to the lowest bidder. I want to do it right, and I know several people who have had braces put on by this office, either by this orthodontist or her father.

I asked about a cash discount and got turned down.

That’s it. Next week, I burn $5500. Hope the kid eventually appreciates it.

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