Dumb Investing Mistakes to Avoid

Investing is crucial to having a secure and happy life after retirement (as well as having something to fall back on to in tough times). Though it's not the most difficult thing in the world to do, there are a lot of pitfalls and traps that many people fall into despite the warnings. Just be careful and be sure not to make these common mistakes.


Along the way, you may make a few investing mistakes, however there are big mistakes that you absolutely must avoid if you are to be a successful investor. For instance, the biggest investing mistake that you could ever make is to not invest at all, or to put off investing until later. Make your money work for you – even if all you can spare is $20 a week to invest!

While not investing at all or putting off investing until later are big mistakes, investing before you are in the financial position to do so is another big mistake. Get your current financial situation in order first, and then start investing. Get your credit cleaned up, pay off high interest loans and credit cards, and put at least three months of living expenses in savings. Once this is done, you are ready to start letting your money work for you.

Don’t invest to get rich quick. That is the riskiest type of investing that there is, and you will more than likely lose. If it was easy, everyone would be doing it! Instead, invest for the long term, and have the patience to weather the storms and allow your money to grow. Only invest for the short term when you know you will need the money in a short amount of time, and then stick with safe investments, such as certificates of deposit.

Don’t put all of your eggs into one basket. Scatter it around various types of investments for the best returns. Also, don’t move your money around too much. Let it ride. Pick your investments carefully, invest your money, and allow it to grow – don’t panic if the stock drops a few dollars. If the stock is a stable stock, it will go back up.

A common mistake that a lot of people make is thinking that their investments in collectibles will really pay off. Again, if this were true, everyone would do it. Don’t count on your Coke collection or your book collection to pay for your retirement years! Count on investments made with cold hard cash instead.

Remember, the best investment tool is common sense. Listen to your instinct and study your options thoroughly and you can avoid the common mistakes and steer clear of the pitfalls and traps. Don't be a statistic for the nightly news.


Mahalo.

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Tips and techniques outlined in our ebook “Debt Free Living”.

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Why pay for home improvement when you can do it yourself?

There has been a decline in consumer confidence in the building and construction industry. This may be the same reason why many are now doing home improvements by themselves.

Why not? A little knowledge of the technical aspects combined with the eye for creativity is enough to do the home improvement on your own.

Why are people turning to do-it-yourself home improvements?

Many construction workers who do not have a lot of experience or expertise in construction or home maintenance are out there right now trying to work on these homes across the country.

As a result, homeowners are finding that the jobs are not being completed to their satisfaction. Sometimes they are even prepaying for services that do not get done or are not part of the plan.

You do not have to rely and pay someone to improve your home. Why not try to do it yourself?

You can enhance your home’s existing concrete surfaces using acid stains, acrylic stains, epoxy paints, and scoring techniques.

If you are tired of looking at dreary gray concrete, there are some easy projects for the serious home improvement do-it-yourselfer to give your patio, driveway, garage, etc. a refreshing new look.

Decorative concrete work costs double or even triple that of regular concrete. This is why many people cannot afford it.

There are inexpensive ways to decorate concrete after it has cured without having to pay skilled tradesmen.

Acid based concrete stains are becoming more and more popular for coloring concrete surfaces. They chemically react with the cementitious material to produce permanent color with variegated or mottled appearance like that of marble. This results in a natural, elegant looking surface.

Water based concrete stains are an alternative to acid stains and are much more user friendly because they’re much less toxic. These stains do not chemically react with the concrete; they are absorbed into the surface pores and act like a dye. The big advantage of water based stains is the wide array of colors available.

If you want to venture beyond the basic staining of concrete, consider using some scoring techniques to create patterns on the surface.

You can make your concrete look like a tile floor for example. It is up to your imagination. An angle grinder with a 4 inch grinding or cutting wheel is the ideal tool for this.

The important thing to remember when scoring is to draw the pattern on the concrete first and make sure you are satisfied with the way it looks because scoring is irreversible.

Epoxy paints make an excellent coating for garage floors and basement floors. Many commercial floors have epoxy coatings because of their durability and resistance to chemical spills as well as their appearance.

In recent years, however, it has become very popular for residential use with an increasing availability of different colors. This is not a difficult project, but the key to successful application is surface preparation.

Epoxy paints have also become available in a water based form making it safe for the do-it-yourselfer and ideal for indoor applications. They cost a little more than stains. For a 400 square foot garage, you’ll spend about $200 for the materials needed for this project.

See? You do not have to spend money to have your home improved. You have the capability to do it yourself. With some instructions and a little bit of work, anyone can turn boring concrete into their own masterpiece.


Mahalo
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Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.

For more information:

http://www.renspubhouse.com/debtfree/debtfree.html

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Spend Wisely to Save Money-or A Penny Saved is a Penny Earned (or at least an extra penny to spend elsewhere).

Spend Wisely to Save Money-or A Penny Saved is a Penny Earned (or at least an extra penny to spend elsewhere).


Have you ever noticed that the things you buy every week at the grocery and hardware stores go up a few cents between shopping trips? Not by much…just by a little each week but they continue to creep up and up.

All it takes for the price to jump up by a lot is a little hiccup in the world wide market, note the price of gasoline as it relates to world affairs.

There is a way that we can keep these price increases from impacting our personal finances so much and that is by buying in quantity and finding the best possible prices for the things we use and will continue to use everyday… things that will keep just as well on the shelves in our homes as it does on the shelves at the grocery store or hardware store.

For instance, dog food and cat food costs about 10% less when bought by the case than it does when bought at the single can price and if you wait for close out prices you save a lot more than that.

Set aside some space in your home and make a list of things that you use regularly which will not spoil. Any grain or grain products will need to be stored in airtight containers that rats can’t get into so keep that in mind.

Then set out to find the best prices you can get on quantity purchases of such things as bathroom items and dry and canned food. Also realize that store brands cost at least 10% less than “National Brands”, but still have the same quality.

You will be surprised at how much you can save by buying a twenty pound bag of rice as opposed to a one pound bag but don’t forget that it must be kept in a rat proof container.

You can buy some clothing items such as men’s socks and underwear because those styles don’t change, avoid buying children’s and women’s clothing, those styles change and sizes change too drastically.

Try to acquire and keep a two year supply of these items and you can save hundreds of dollars.


Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.

For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
Mahalo.