InvestMoneyRight

06Dec 2016 by Jesse Losse No Comments

Credit Score Basics: How Your Credit Score Works

Managing Debt

"You can't judge a book by its cover" - this is why banks, and other lenders, cannot determine your credit worthiness based on the way you look. Instead, lenders will look at your credit score to determine how reliable you are. It's important that lenders trust you to pay back a loan or your chances of getting one will greatly decrease! This article will educate you on credit score basics and how your credit score works. Credit Score Basics: What is a Credit Score? Your credit score is a number that ranges from 300 to 850 and is composed of many different factors. Lenders use this number to determine your credit worthiness and if there is a chance you will default (not pay back) on the loan. The higher your credit score, the better…

11Oct 2016 by Jesse Losse No Comments

Common Credit Card Mistakes | A Beginner’s Guide to Using a Credit Card

Credit Cards, Managing Debt

Common credit card mistakes are easily avoidable with the right education. This articles is to serve as a beginner's guide to using a credit card. Most people know what a credit card is but for those of you who don't - a credit card is a small, rectangular piece of plastic that is connected to a financial account that acts like a short-term loan. This card allows you to make a purchase and pay it back at a later time. Since you do not need to have the money upfront to make a purchase, a credit card can potentially be very dangerous for someone who likes to spend money. InvestMoneyRight.com is here to make sure you don't find yourself with a credit card nightmare on your hands! By using your credit properly,…

29Jun 2016 by Jesse Losse No Comments

Market Volatility: How to Prepare Your Portfolio for Market Movements

Investing

With the recent events in the markets I figured this would be the perfect time to talk about market volatility. This is an important concept to understand so you know how to protect your portfolio from volatile market conditions. What is Volatility? First, let me start with explaining what volatility means when discussing individual investments. Volatility is when a investment has a large price fluctuation in a short amount of time in either direction. This is when a stock seems confused on which direction to go, resulting in a lot of movement (up, then down, then back up, then down again). Higher volatility normally correlates to a riskier investment. Safer investments tend to have smaller price fluctuations. Bad news, missed sales, size of the company, and pending lawsuits can all…

20Jun 2016 by Jesse Losse No Comments

How to Make a Million Dollars

Investing, Retirement

Who doesn't want to become a millionaire!? Anyone..? These days it seems like everyone wants to be a millionaire but most people won't do what it takes to actually become one. Unless you have a high paying job or start your own business, being a millionaire might seem like just a dream. Well I'm here to tell you it's not! With the right mind set and dedication it's actually not as hard as you may think to make a million dollars. Now, don't get me wrong, its takes a lot of dedication and patients to make your first million and it won't happen overnight. But with the right plan, anyone can make a million dollars. So, What does it Really take to Make a Million when you Retire? Since most…

20May 2016 by Jesse Losse No Comments

Buying a Car: 5 Tips to Get the Best Deal

Buying a Car, Managing Debt

Are you thinking of buying a car? Whether you currently don't own a vehicle or your current vehicle is breaking down, buying a car is a big decision! This guide will help you through the car buying process and more importantly help you get a great deal on your next car! First off, ask yourself why do you need a new car? For some people they need one to fulfill their day-to-day obligations. Other people simply want a new car because they are tired of their old one and can afford a new one. Make sure your need is greater than your want if you are in any way concerned if you can afford the monthly payments on a new car. Besides loan payments, you will also need full coverage car…

09May 2016 by Jesse Losse 3 Comments

Interest: How it Affects You and Your Wallet

Managing Debt

Interest is the cost of borrowing money from a lender. When consumers borrow money, they get charged an interest rate (%). This is how the lender makes their money. The higher the rate, the more money you are paying that lender to borrow you money. Your credit score and type of credit you are trying to attain will determine your interest rate. A credit card, for example, can have an extremely high rate (25%+), while a home loan can be as low as 3.5%. That's a HUGE difference! Also, it's very important to maintain a high credit score. Having good credit will save you a lot of money in interest costs, making your purchases cheaper in the long run! This Is Why It's Very Important To Try To Get The…

06Apr 2016 by Jesse Losse No Comments

How to Quickly Pay Off Debt | Tips for Paying Off Credit Card Debt

Managing Debt

Are you looking to pay off your debt early and free up some of your monthly cash? Increasing your monthly payments and putting that extra money to work will have a big difference on how much interest you end up paying. Learn how to quickly pay off debt with these simple strategies. We also offer advice on paying off credit card debt,too! How to Quickly Pay Off Debt 1) Debt Stacking - The concept of paying a fixed amount every month to your loans and putting extra money on the loan with the highest interest rate while continuing to pay the minimum on the rest of the loans. Once the loan with the highest interest rate is paid off, you continue paying the same fixed monthly payment, but now you apply the additional payments…

01Mar 2016 by Jesse Losse No Comments

How Risky is a Stock?

Investing

When trying to find the right company to invest in it's important to know how risky that company is. Some investors might be looking to take on more risk in attempts to achieve a higher return on their investment, while other investors might just be looking for a safe place to hold their money with little risk of losing it. Here are some simple tips to help determine the risk/volatility of a stock: The Stocks Beta - This is a very simple way to tell how risky a stock is relative to the overall stock market. Simply go to a financial website, like Yahoo Finance, and type in the stocks symbol or name. That's it! The Beta will be listed under the stock price along with other stock info. So what does…

12Feb 2016 by Jesse Losse 1 Comment

Invest in Index Fund | Investing in Index Funds For Retirement

Investing

With the rising popularity of index funds, its no surprise investors are taking advantage of these low cost investment instruments. And with an Index Fund's makeup being closely related to that of a mutual fund, many investors are starting to take notice of the benefits of investing in index funds for retirement. What is an Index Fund? An Index Fund is a passively managed fund that mimics a particular stock market index (a way to measure a section of the stock market). It does this by holding a portfolio of stocks in the same proportion to their weight in the desired market index. Investing in index funds for retirement, instead of mutual funds, is a great option to grow your wealth. Pros of Investing in Index Funds For Retirement Low Cost Tax Benefits Diversified -…

04Feb 2016 by Jesse Losse 3 Comments

Mutual Fund Fees: Are You Paying Too Much?

Investing, Retirement

Are you paying too much for mutual funds? Many people don't know if they are paying too much for mutual funds because they don't know what they're paying to begin with. We can help! Before you buy a mutual fund make sure you know what fees are associated with it. This article will explain how mutual funds operate and how to find out what mutual fund fees you are being charged. It's important to understand these fees because they can lead to major drains on your investment in the long run. Most Common Mutual Fund Fees include: Shareholder Fees Front-end Load (Sales Charge): This is a one-time fee that you pay to buy a mutual fund. The fee ranges from 0% – 8.5%, and the money is used to pay broker or…