Whilst 20 years ago a mobile phone was a
rare site even in the most bustling of metropolises, the great leap forward in
mobile technology since the millennium means that mobile devices are now an
ever-present part of our lives. If anything this trend towards mobile has only
accelerated in the past few years, as the rise of the smart-phone has
transformed the mobile from a device for making calls into something that is,
to all intents and purposes, a hand-held computer. The UK is a prime example of
this trend, with a recent Ofcom report stating that in 2014 a staggering 62% of
people were using smart-phones.
One of the results of this is that both trading
information and financial data are now far more accessible to traders. Whilst
in the 90’s and even in the 00’s the vast majority of trading transactions were
made via desktop, in the past few years the percentage of trading done via
mobile has continued to grow by leaps and bounds. The rise of the tablet has also helped in this
regard, since it has proved to be easily transportable whilst also having an
easier trading interface than smart-phones due to having a larger screen.
This leap forward in technology has also
come at a time when data is increasingly becoming easier to interpret, with
trading courses available to help people get to grips with the rise and fall of
the financial markets. In fact, ETX Capital
offers a wide variety of trading-related seminars and webinars, all of which
are free to ETX Capital clients.
Whilst in the old days financial news
could be slow to circulate, the rise of the internet in general and social
media in particular means that the spread of financial news can be almost
instantaneous. The accessibility to both social media and trading apps on the
same mobile device means that people can react to financial news just seconds
after reading it – wherever they are in the world. The ability to trade whilst
away from one’s desk has opened up the world of trading; with internet access
via mobile phone, anyone can be a financial trader.
Newcomers to the
world of financial trading certainly aren’t spoiled for choice – there are
large number of different tradable products out there, with global equities,
indices, Forex pairs and commodities all available to trade nowadays via mobile
platforms. For example, TraderPro, ETX Capital’s flagship platform, offers
thousands of different trading choices to users – and as well as being available
on Desktop devices the tradingplatform
is also available in app format for Android and iOS devices, giving users the
flexibility to trade when and where they want to.
Now that we’ve
crossed one and a half month of the year 2015, you must be wondering what 2015
has in store for your wallets and for the entire economy. A powerful thing
these days is a financial built that is built on reasonable foresight, with the
tanking price of oil, the economic weakness that is prevailing in the world,
the aging bull market and the series of geopolitical headwinds. Every year,
there are some important milestones and trends that are expected to occur in a
year. So, what’s being predicted about 2015? What will be the shape and size of
your wallet? Will you be able to manage your soaring financial obligations?
What does the credit card industry has in store for you?
predicts a rate hike in 2015 – A detailed look
According to the
Federal Reserve’s monetary policy statement, interest rates are all set to
increase in mid-2015, the first rise since 2006. The Federal Open Market Committee announced that it keep on winding down
its bond-buying stimulus program by trimming off $10 from its monthly
purchases, thereby leaving the stimulus program to end by October. Fed Chair
Janet Yellen said that the US economy is gradually making progress towards the
FOMC’s aim of sustainable employment.
However, the labor market needs to
When all this
happens, the interest rate increase will have an impact on most of the credit
card users. As the interests of the variable-rate cards are linked to the prime
rates of the bank, whenever the Fed acts on its decision, the people who carry
balance on their variable rate card will see the monthly interest costs start
rising. On the other hand, the savers will see good advantages as the yields on
their savings account will see an increase.
Unemployment level to
If you have an
eye on the bigger picture, you will know that a large portion of the global
economy is in trouble, Europe, Japan and OPEC, the economic resurgence of US is
still sluggish, as it seems. Experts expect more of the same kind of recovery,
if not better in the year 2015. Predictions reveal a GDP growth of 3% and a reduction in unemployment to 5%.
Such statistics could easy take the US back to levels that were never seen
since early 2008, before the seeping in of the financial crisis. Healthy
corporate balance sheets will be seen due to more people a work, more output
and more robust economic growth.
Higher automobile sales
old fleet of cars, where an average vehicle is 11.4 years old, the rejuvenating
economy and the still-low interest rates led to a solid year of automobile
sales in 2014. Experts expect 2015 to be even better as a larger number of
consumers gain confidence in their savings opportunities and financial
accumulate at least $60 billion in credit card debt
During the past
few years, there has been a rapid decline in the performance of consumer credit
cards as the bad memory of the Great Recession has faded into memory. The
Americans accrued $36.7 billion credit card debt in 2012, $38.8 billion in
2013, and $60 billion in 2014 which shows a combined amount of $135.6 billion
in only 3 years. This unabated trend is projected to continue in 2015. In fact
according to projections, consumers will incur at least $60 million in new
credit card debt during 2015. Obviously there’s a fake hope that everyone
should follow a budget, spend much less than what they earn and also save for
their rainy day fund.
Massive closing of
branches will be seen among banks
As a larger
portion of the market shifts to mobile applications and the ‘online-only’
accounts, banks have been closing down their branches throughout the US in
massive numbers. There were 1487 net closings in 2013 and this was till now the
highest number that was recorded since 2002. As per research by SNL Financial,
around 1464 branches were closed through mid-November, 2014. Experts expect
this trend to continue and increase through 2015.
Expert advice for
consumers in 2015
As we see that
the condition of the US economy and the world economy is not going through a
positive way, consumers have to stay on the safe side by taking some
watchful financial steps. They have to take steps to get rid of their debt by
taking out debt
consolidation loans utah
so that they can use the proceeds to repay their debt obligations with ease.
Boost your savings and create an
emergency fund for better lifestyle.
Therefore, when you’re wondering about the shape
and size of your wallet in 2015, you should take the above mentioned facts into
consideration. Speak to a financial advisor and take advice on the financial
steps to take in order to remain debt free.
What are the things you should not do in handling your foreign currencies if you plan on earning money from it? If you have done exchanges like pound to euro, what are the pitfalls you should avoid to lessen the possibility of incurring losses? You should read the following parts for your reference on what you shouldn’t be or do when it comes to handling your foreign currency investment. Organized
Don’t be impulsive and irrational because you may end up making baseless decisions.
Decisions, no matter how small or big the effect is, should be carefully thought of for more than a couple of times. You can’t immediately rush into things just because you feel like doing it. Impulsive decisions will cost you a lot since you have not assessed the outcome of your actions. If you act upon things without any basis, then it seems like you are digging your own grave. Exchanging your pound to euro should not be done just because you notice there are several individuals who do it. This exchange may be favourable on their part but not for you. Remember that it is your own money which you will place into an investment. Have the extreme caution as you analyse the foreign currency exchanges rather than regret in the end.
Don’t be easily persuaded by other traders or brokers.
It is inevitable for you to hear different opinions from various traders and brokers of foreign currencies. Do not be easily persuaded with the things you may hear from them. Their opinions may clash the perspectives of each other. You may just see yourself stuck in confusion as you don’t know what you must do and whom you shall trust. Before choosing the advice you will follow, you should have an overall assessment of the actions you will do first. A projected forecast for each decision will absolutely help you. Pose yourself different questions such as: Is it beneficial to exchange your British pound to dollars? What is the euro rate today? How much will I have to keep? How long should I keep this allocated amount? What are the top performing countries recently in terms of their economy? While it is helpful to hear opinions from different brokers and traders, just be careful not to fall into the trap of becoming a victim.
It is not advisable to hoard a huge amount and keep it for a long time.
It is very risky to keep a large amount of foreign currency for a long time. There are uncertainties that can happen in the global market which will directly affect the value of the foreign currency you are holding. If you are willing to go with everything you got then you have to rethink again. A huge amount kept for a long time is more prone to losses once an unpleasant event takes place. Say for instance that you are waiting for a certain value of the euro rate today within this month. It continuously increases each day but it’s still far from your target value. Then all of a sudden, its value dropped even lower compared to the amount you have purchased the foreign currency. The losses are significant because you have hoarded a huge amount for a long time.
It is best to not mix the foreign currencies intended for expenses with the investment.
It seems disorganized when you have foreign currencies which you both use as investments in the foreign currency exchanges and for purchasing items from other countries. Open a separate bank account for the foreign currencies you are maintaining like for example your Australian dollar. You have to track down all of your transactions. It will be easier if one account is intended only for a single purpose. You will be able to see the cash flows which are all related to your investment in foreign currency exchange trade. Moreover, you can easily compare your previous balance with the current balance and see the difference of the amounts. As you allocate the amount you will use to purchase foreign currency, immediately open a bank account intended solely for it.
Don’t be too complacent.
Keep an eye on everything that may and will affect the value of the foreign currency whether it’s positively or negatively. Be quick as to how you will use and lay your cards for the next days or weeks. If you are unaware of the news then you may end up incurring losses because you are too complacent or you appear gullible and others try to take advantage of you. The worst that may happen is if there are already the indicators regarding an event which will heavily influence the value and you still choose to stick with your decision from last week. As much as other traders would want to see the high value of a certain foreign currency and exchange pound to euro or other foreign currencies, be open to all possibilities so you won’t be taken aback with an unexpected happening.
If the New Year
is considered all about new beginnings, don’t you think that this is the right
opportunity to move towards financial prudence? Although the New Year might
still be a few days away, but this is the right time to get some personal
financial matters in place, before the Christmas and New Year celebrations take
over. The simplest thing to do is to include any money related resolution to
your list. Doing so might seem to be a spoiler but this should well be the one
decision that you were able to put in practice and get paid handsomely in the
long run. If you wish to plan ahead of time so as to stay on top of your
personal finances, here are some points with which you could start off.
more about your finances:
In case you think that it is solely the duty of your financial advisor or
planner to know about all kinds of financial products, you’re grossly mistaken.
Apart from the financial planner, it is also the investor’s responsibility to
know where to invest his dollars. Even the investors who prefer to stay with
simpler products should study their investment choices. The problem with most
people is that they don’t have an inclination towards reading on finance. Well,
you don’t have to become a CFA but you should know the basics. Having a basic
understanding will help you get a grip on the bigger picture.
on your cash flow:
Another simple way of getting disciplined and getting into the habit of saving
is to first find and then plug the loopholes in your expenses. If investing is
important for you, track the cash flow. Once you figure out your avoidable
expenses, you can easily channelize money into savings and investments. People
are usually undisciplined and they love to be savers, not investors. So, jot
down where you spend, what amount you spend.
with a small amount:
If you find it difficult to save and invest, the best way to do so is to start
small. Many people will think that small investments take them nowhere. A small
amount out away may look like nothing but you will rather be surprised to know
how this amount may add up. Hence, keep saving money in small amounts so that
you can soon see your fund growing.
While you investigate your expenses, make sure you pay close attention to your
loans. In case you realize that you have too many, it is time that you
consolidate them.You can either seek
help of the debt consolidation programs or take out debt consolidation loans in
order to combine all your loans into a single monthly payment. Before doing
that, remember that all loans are not bad and hence keep paying the ones are
used to build assets, like mortgage and car loans.
Hence, if you’re
someone who is dreaming of spending a debt-free 2015, take into account the
above mentioned tips to save your dollars. At the same time make resolutions to
Whether you like
it or not, Christmas is just a week away. If your family is like any other
family in the US, the weeks around Christmas are usually jam-packed with events
with extended family members and friends, wrapping and exchanging gifts,
preparing meals and eating them and then fighting off the winter blues with a
heavy dose of Christmas cheer. The problem with Christmas is that it can get
really expensive as the little expenses gradually add up, which can result in
some difficult and stressful moments post holidays. In fact, there are people
in the US who still are struggling to pay off debt that they incurred 2 years
back. If you wish to mend ways this year and spend a debt-free Christmas, here
are some vital financial tips that you can follow.
a list of presents that you need: If you make a list of presents that you need to
buy for your family and friends, you can agree to a price limit that you’re
capable of paying. Once you make the list, you can revise and check whether all
the names are worth including. Revise the list and check if some names would be
marked off or not. This is especially true when you’re planning to spend
Christmas on a tight budget. Mention the price of the gifts to your family
members so that there are no wrong expectations about gifts and presents.
making your own presents:
There are many people who love to receive homemade Christmas gifts,
particularly the foodie ones. Most people have most of the gifts that you’re
planning to give them and hence it is certainly not a bad idea to make
something new for them. If you have some people on your list who appreciates
homemade gifts, you can make some for them.
alternate Christmas celebrations: We all are aware of the fact that holiday travel
during the peak periods, the week during Thanksgiving and the weeks around
Christmas are incredibly expensive if they’re travelling by air. So, when you
have to save some money so that you don’t fall in debt, you should discuss an
alternate Christmas celebration. Perhaps you could all gather for a weekend in
early December instead of the peak time. You can even celebrate Christmas at
home and enjoy a family gathering at low prices.
Instead of you cooking all the meals on your own, why don’t you arrange potluck
dinners at your home or your friend’s home? This will not only allow you to
save money but also engage your friends in sharing for the dinner. You will get
to know about the culinary skills of your friends so that you can host the next
potluck dinner in their homes in your next party. Sit together and arrange
potluck dinners if you’re on a tight budget.
So, when you
want to spend a debt-free Christmas, follow the above mentioned thrifty tips.
Avoid holiday debt as this is the most expensive thing that you carry forward
into the New Year.