To all who seek freedom from dependence on a steady job or sell their time for pay, are excited about being able to get rid of all that and start building your financial freedom. Therefore, we must start with the basics that are to spend less than we entered, save all you can to lean to hold our tickets and studying a lot about the subject at hand. Some want to build a new business, others to seek the best returns for their money. If this is your case, I bring you what the analysts of the Elliott Wave International firm, believe are the 5 fatal mistakes that affect our way of investing.

1. Lack of methodology. If you aim to be a successful investor, then you should have a methodology that is clear and concise and allows you to look objectively at the nature of the business where you want to invest.

The guesswork and instincts do not work long term. If you do not have an investment methodology, the lurching walks. This is more relevant when making investments in the stock market if you do not follow a methodology you have no way of knowing that is a sign to buy or sell.

On the other hand cannot even identify the trend consistent. To overcome this fatal mistake, enter your methodology. Define in writing analytical tools and more importantly, how to use them.

What really matters is that you make the effort to define it. If your methodology is too complicated to be written on the back of a business card, it is probably too complicated.

Indeed, the methodology is not something that should remain static and should be perfected over time.

2. The lack of discipline. When you have clearly defined investment methodology, you must have the discipline to follow your system. The lack of discipline in this regard is the second fatal mistake.

Religious discipline should be taken to follow the methodology of trading or investment that you have developed.

3. Unrealistic expectations. How many times you have not met with warnings like: “I spent $ 150 and to date have won 10 thousand” ads like this just make people lose money in droves.

They also help create another fatal error: unrealistic expectations. What many people ignore is that higher risk higher return. Such is the case of higher yields paid by countries with more risk of default.

Put yourself, it is better to win but win little risk for higher yields and left with nothing.

4. The lack of patience. This error is one of the more money we lose. A business where you want to invest East requires patience for the results.

The best advice to combat lack of patience do not have to worry about the lack of opportunities, because there will be tomorrow, next week, next month, that without fail.

5. The lack of money to invest. Managing money according to the risk correctly is the key to not losing money. Limit the risk as much as possible each time we make an investment.

Words, we must invest in our capital. Success is not easy. It’s hard work. If someone leads you to believe otherwise, run in the opposite direction, and fast.

The hard work can give a reward, because you can make a profit above the average.

Many potential entrepreneurs fail to realize the dream of owning their own business due to lack of capital to invest. In fact, some capital is necessary to survive the first few months until the company starts to turn a profit. However, it is possible to minimize this problem and take even without all the necessary resources. The challenge of success will be greater, and the lack of capital can be a stimulus for innovation. The following tips can give us idea that things do to take no money.

1. Prepare. Prepare to cover personal expenses during the first months. If you do not have a reservation for that, consider the hypothesis to start developing his idea while he is still employed.

Part of that preparation includes making sure as far as possible, that your idea has potential to function. Do this segment talking with business, researching your audience and try to give a differential in your business.

2. Use other people’s money. If your idea is good, you will not have much difficulty in selling it to potential investors. Experts recommend transform the opportunities that have been identified in the market, a powerful sales pitch that will attract people with money to invest.

The investor may be a bank, government entity or individual. Never mind. Try all possible paths, as if the idea is good, the speech also, the money will soon appear.

3. Make strategic partnerships. Collaborating with customers or suppliers can be a good way to cut costs. If they like your business idea, can accept the risk with you and receive payment after the business is already running. Offers good conditions for more attractive.

4. Invest in Networking. Having a good network is essential to undertake especially when you have all the necessary capital.

Your contacts can help you find potential investors to disclose their business idea or product word of mouth, which is very important to create a reputation for your company.

5. Have a plan of action. You must be flexible if you are trying to open a business without much money, but that does not mean you do not need planning, especially concerning resource management.

Try to set goals and discover what you do not know about the business. Develop a detailed business plan.

It is essential to know to place the idea on paper and above all in reality.

Did you know that in society there are lots of myths about money?

Did you know also that these myths can stop on your way to achieve the wealth that you want to know?

This topic is so important, I decided to devote two full weeks to study 10 myths about money than to actually stop us to obtain, preserve and increase over time.

Each myth publish an article as such, and as they emerge, the will link from this article, so … Stay tuned!

Myth 1: I cannot afford

We see how people always think something is too expensive for them, and programmed himself to believe that they can have the money for a better life.

Myth 2: I Have a Job

This is one of the most common, and much of which mention both here on the Finance blog, as in my Personal Development blog. You do not need a job (employment) to make money.

Myth 3: Need Capital

As one of my greatest mentors: “Who does not know how to make money without money, will be in trouble when trying to make money with money.” You do not need capital to start. That is a myth.

Myth 4: Money survived

You really think not survive without money? I want to show you that this is entirely a myth, and when you’re free of that belief, you will get rid of the fear of losing everything and start to earn more.

 Myth 5: It Takes Money To Make Money

Those who consider becoming rich, stop on the way they need to start thinking.

Myth 6: Buy Now, Pay Later

People always think that this is a great decision when they really doing is putting your finances back payments will have to assume then, often on unnecessary things.

 Myth 7: Money Makes You Poor

Commonly heard among the people of lower strata that money makes people evil and those who are rich in one way or another are evil. Ridiculous, but common in people.

Myth 8: there are limited resources

From this we talked a bit on this blog, about thinking that there are limited resources everywhere, with few but forceful arguments, I will show that this is completely false.

Myth 9: I have no money!

How often do you say that? This is a phrase people say when their expectations are not exactly in line with their reality. It is almost never correct to say, and see why.

Myth 10: Cheap is good

Just because a product or service has a lower price, does not mean that its value is higher as such. Contradictory but as common in people who even come to regard quality as expensive and bad.

In addition …

Of course not only mention the myths as such, the idea is not to delve into the problem and leave it all started. each of the myths personally consider the solution as the most relevant, so that you can apply in your life to actually get rid of these burdens that hold you back to win all the money you truly deserve.

In our country, the period for repayment of the mortgage is variable, although the average is about 30 years. There are also deals on the market with maturities that extend up to 40 or 50 years, though these are rare.

The applicant’s age plays a fundamental role in determining the period for refunding the mortgage, as the cap is tied to your age at the end of the mortgage. In general, banks now determine the maximum age 75 years for repayment of the mortgage. Thus, if a person has 30 years to apply for a mortgage could get within 40 or even 45 years, but not an applicant for 45 years, which would be granted a maximum of a 30-year mortgage.RWT8NM2WVUR6

Is better a short term mortgage or long?
There are ideal repayment terms for each profile, but couldn’t be said to exist within ideal. This largely depends on the applicant’s income, age and conditions of the mortgage. Here are some tips that will be useful to choose the best repayment term of your mortgage:

1. Mortgage payment: If you choose a longer repayment period will pay a lower premium for longer, which means that you must pay more interest and, therefore, pay more for the mortgage. Conversely, if you can afford a higher fee you pay less interest, reducing the total cost of the mortgage. It should be borne in mind that banks calculate the share of the mortgage represents more than 35% of your income (including your other debts), so an extension of the repayment period will always reduce that percentage and broaden your chances of getting a mortgage. If you calculate the mortgage payment, there are very practical and simple calculators to help you adjust the fee to the repayment period.

2. Tax benefits: The mortgage allows you to get tax deductions, but only on a maximum annual amount, currently € 9,015.18. If the fee you pay for your mortgage is lower than this limit, you might want to increase what you pay now for tax benefits in income tax.

3. Fees: Some mortgages may allow you to perform capital cancellations, whether partial or no fees. If the bank offers this possibility, you may decide to opt for a longer repayment period to reduce the amount of the fee. These flexible mortgages allow you to reduce the outstanding principal on time, allowing you to pay a lower monthly payment or reduce the repayment period.

Forgive me financial advisers, but their tips are often unintelligible. Moreover, I’m not the only one who thinks so: 50% of investors do not fully understand acknowledge the advice of his counsel, and that nearly 90% of professionals considered to have done his job and left her satisfied customers according to a etude which echoes the Gestiohna brokerage.

Another report, prepared by the Centre Inverco gives us more data and suggests that the more dynamic and younger the investor, the more knowledge you have of financial products. The trouble is that the profile of the average saving is, rather, that of a man older than 50 years and a conservative in their investments.

To facilitate understanding between client and consultant, Gestiohna includes “10 key concepts that every investor should know in times of crisis” and which I reproduce verbatim:

REDUCTION OF BETA is the risk indicator reflecting the sensitivity of a stock to market fluctuations. With a beta less than one, the action will tend to collect only part of the market movements, making it more stable and talked of a “defensive value.”

Problem subprime mortgage credit risk borrowers (people with no income, no job, no assets) in the U.S. residential market, which highlighted the shortcomings of a system based on subprime mortgages and was one of the triggers for world economic crisis. (more…)