Personal finance encompasses the whole universe of managing individual and family finances, taking responsibility for your current and future financial situation, and setting financial goals. It also includes handling individual financial tasks and saving for emergencies. Not getting control of your personal finances can leave you unprotected when a crisis comes along–whether it’s an illness, an unexpected job loss, or the death of the family breadwinner. The pandemic that began in March 2020 showed all of these issues in sharp relief and showed the importance of planning for emergencies. Please visit our YouTube channel www. youtube.com/@gotstockz
Technical analysis. Analyzing the moving averages. Extensive studies on candle stick charting. Volume and chart patterns are also important, just to list a few. Fundamental and Technical analysis can help us understand a better determination of the time to buy, sell or hold. Trading the Stock Market since 1999. Please visit our YouTube channel www. youtube.com/@gotstockz Happy investing. :-)
Fundamental analysis consists of analyzing company reports. Earnings, projected grow, etc.... Our team does extensive research on the fundamentals of what the corporations report. We only use professional financial services for our analytical reports. Using this information combined with the technical analysis, we believe the analytical details are a great formula to determine the health of a company. Technical analysis provides facts of what has already happened. Combining these two elements will help us with a better determination of probability of the direction of the company. Please visit our YouTube channel www. youtube.com/@gotstockz Trading the Stock Market since 1999. Happy investing. :-)
“Analysis Paralysis” defined by Investopedia is a “Situation in which an individual or group is unable to move forward with a decision as a result of overanalyzing data.” In simpler terms, it’s what happens when traders fail to act because of overthinking. We have found over the years that the "KISS" Strategy. "Keep It Simple Strategy" has outperformed most technical trading set ups. At gotstockz we use professional financial services, and trading platforms for our research and trading activity. This provides us with the tools for our extensive studies with fundamental and technical analysis. We would be honored to share our knowledge and experience with you. Please visit our YouTube channel. www. youtube.com/@gotstockz Trading the "Stock Market" since 1999. Happy investing. :-)
If you say that someone has money to burn, you mean that they have more money than they need, or that they spend their money on things that you think are unnecessary. The persistent occurrence of unnecessary spending makes it more difficult to achieve financial stability. There is seriously nothing wrong with spending, or at least I’d never be the one to tell you so. The problem comes when we start confusing saving and spending, and see “saving” as spending less than we potentially might have rather than putting money in the bank. Call spending what it is and don’t let marketers deliberately obfuscate the two for you. Meaning: just because the store says we’re saving money doesn’t mean we actually are. The real judge is the bank account balance: does it keep getting bigger? That’s the only way it’s truly saving.
There are two key elements that drive a Spending Plan - income and expenses. Next, gather as many of your bills as you can, including credit card statements, receipts for groceries, gas, or anything else that you bought with cash. To review additional expenses, it would also be helpful to have your checkbook register available. If you’re creating a Spending Plan for the first time, it may be unlikely that accurate records have been maintained, and that’s fine. The goal of conducting an Initial Spending Assessment is to obtain a sense of your current spending habits. If you haven’t maintained proper records, don’t worry, you can make “best guess” estimates when necessary. Also, be sure your account for “budget busters.” Budget busters are irregular expenses that can catch us off guard. For instance, your annual insurance premiums or quarterly tax bills are items that can disrupt your plan. When you’re devising your Spending Plan, be sure to give some thought to these expenses so you can account for them in your budget.
Before determining a reasonable course of action, you must have a clear picture of your current situation. This is accomplished by conducting an Initial Spending Assessment. The goal of this step is to identify where every dollar goes after it leaves your wallet. After you’ve identified each expense, you’ll have the information you need to make sound decisions about your financial goals. There are two steps in the Initial Spending Assessment. In our first step, you’ll create a “Gut-Check” budget to get a sense of how much of your income is going into several specific categories of spending. Though mindful of the fact that each of us has his or her own spending needs, we’ll also make recommendations about appropriate percentages of your income that may be dedicated to each category.
It’s important to examine your spending habits, to evaluate not just what you’re spending your money on, but why are you spending money on these items? This process will allow you to understand the difference between your individual wants and needs. This is not to say you should never buy things that you simply want but don’t need. It’s simply a reminder to be sensible about your spending. Many of us could eliminate a significant portion of us unwarranted spending if we’d just take the time to ask ourselves, “Is this something I truly need or something I simply want?”
Saving money is a fundamental aspect of personal finance that contributes to financial security, goal achievement, wealth building, and overall well-being. Whether creating an emergency fund, achieving financial goals, building wealth, reducing financial stress, or preparing for retirement, saving money empowers you to take control of your financial future and live life on your terms. Cultivating a habit of saving, no matter how small, paves the way for financial independence, enabling you to realize your dreams and aspirations with confidence and peace of mind.
When your family is craving quality time together, you might automatically assume the best options for the evening involve going out to dinner or a movie. But what do you do when your budget is tight? Is going out still the best option? It might not be. We want you to be aware of exactly how expensive a night out can be so you can make a smart financial choice for your family.
Our spending is easy enough to keep track of when it comes to fixed payments and monthly bills, but those are things we can plan around and budget for. What about those hidden expenses that we don't, or can't, see coming until we're staring at our bank account in confusion? We can be knocked off our budget by things such as hidden bank fees, high energy costs, or even something as simple as a magazine or gym subscription. What you may not know is that a lot of the expenses you're currently paying are completely unnecessary.
In general, kids have little to no concept of money. They know that if they want something at a store, mom or dad just need to reach into their wallets and purses for that never-ending supply of green paper. The problem is, in most America's schools, financial literacy is not a core topic. It's our responsibility as parents to teach our kids the value of money. Here are some things you may want to discuss with them.
If you don’t earn much and you can barely pay your bills, the idea of saving money might seem laughable. When you only have $5 left at the end of the month, why even bother to try saving? Because everyone must start somewhere, and if you work at it, your financial situation is likely to improve over time. Saving money is worth the effort. It gives you peace of mind, it gives you options, and the more you save, the easier it becomes to accumulate additional savings.
We all know the importance of having a household budget in place to help us maintain control of where our money is going. What if a sudden financial crisis were to hit? Would you be able to meet your budget obligations on a reduced income? Unfortunately, you never know when a crisis will hit. Layoffs, overtime reductions, or the death of a spouse can happen without much warning, so having a Plan B in place before a crisis hit can help you.
Wondering how to retire early? Lots of people would like an early escape from the rat race, whether it is to travel, pursue a passion project, start a business, volunteer, or just stop working. However, retirement planning is tricky enough when you plan to work until your full retirement age. It is even more so if you want to stop working years or even decades sooner. Can it be done? Absolutely. But unless you are independently wealthy, and few people are it will take work and discipline. Here are five key steps to take.
Get your finances under control by keeping track of what you spend and where you spend it. Keep a log and slowly rid yourself of unnecessary purchases or excessive spending. To save, you must spend less. Understand the differences between needs and wants and identify yours. Be able to say no when something doesn't align with your financial goals, today and in the future. Start small and work up to larger amounts you'll be surprised how easy it can be.
Our Team does extensive research on stocks and the stock market. We post videos about analyzing stocks, and the stock market. Trading the Stock Market since 1999 through Bull, and Bear markets. Specializing in researching the financial fundamentals, and Technical Analysis of corporations to determine if the stock or the investment is in a buy, sell or hold pattern. We are not recommending for anyone to buy, sell or hold any stocks or investments. This channel is for information purposes only. If you need financial or trading advice, please contact your local licensed investment advisor. Thank you. Please visit us: YouTube • How too... Stock Marke... Web site. www.gotstockz.com Gotstockz Don't forget Subscribe and don't forget the Z. lol Welcome to the family " gotstockz". Happy Investing
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