The interest rate charged for financing an outstanding balance is different than the rate charged for withdrawing cash from an ATM, and different from the rate charged for overseas transactions or withdrawals. There are also interest rates charged for financing balance transfers, promotional no-interest periods for purchases, and many more.

Single Rate Credit Cards Explained

All these rates can get very confusing and you can easily loose track of all of them. But someone had a brilliant and original idea. And this time it seems that originality implied going back to the origins. Someone thought about charging a simple, unique interest rate for all financial transactions. And thus, Single Rate Credit Cards came to life.

There are no difficulties about this kind of credit cards. Any financial transaction you make, from financing unpaid balances, transferring balances, withdrawing money from ATMs, Buying goods abroad, etc. is charged the same interest rate. Thus, you can easily keep track of your expenses and avoid unwittingly exceeding limits.

Is a Single Rate Credit Card for me?

The answer to this question depends on your usual financial behavior. If you just use your card for buying goods because you don’t like carrying too much cash with you and you always pay the balance in full, you probably won’t make good use of this kind of credit card. A mileage Credit Card or other reward credit card might be a best option.

If you need a new card for transferring the balance of your previous cards and finance them. You’ll probably do better with a Credit Card featuring a 0% Balance Transfer promotional period. But only if you can repay the balance in full before the promotional period has ended, otherwise, a single rate Credit Card is a good choice, since the rate is lower than the rate charged by 0% Balance Transfer Credit Cards once the promotional period has ended.

The foundation of our system is strategic spending. Most of us know how much we earn each year, but have no idea what we spend the money on. Like every successful business, we need to constantly monitor income and expenditure while also ensuring that we are making a profit, in other words, saving some money.

The idea of a strategic spending is to divide your hard earned income up into small, easily controlled bundles. The first bundle taken out should be savings, a minimum 10% of your gross pay, which is transferred monthly into your cash management account. If you leave savings to what is left over, you will always find that there is nothing left over.

The second bundle is your cash management account. This is your daily living expenses for which you normally pay cash, a bit like your pocket money. These are for all non deductible items. This account is simply accessed by a 24 hour access keycard.

The third bundle is your operations account. This is for those larger amounts which are usually paid monthly, quarterly or yearly by cheque. This account should not be linked to the cash management account (so you cannot access it with your cash management account keycard). We keep the bundles separate. It is wise to use this account in conjunction with a credit card for those occasions when your monthly expenses are higher than the budgeted amount. The card acts as a smoother as next month will be a surplus that can be paid back into the credit card.

The system is linked by the use of the transfer account, into which your pay is banked. From there, periodic payments are set up to transfer funds to all the accounts on the 15th of each month. You should maintain a small float in the cash management account and operations account. The main aim is to accumulate as much as possible in the cash management account and use these funds wisely to create wealth.

It’s a frightening financial fact that the world’s baby boomers are going to eat up what little is left of state retirement funding and the rest of us (who have a few years ahead of us before we can quit the commute) will be left to fend for ourselves financially in retirement.

We all know this because politicians around the world are warning us about it ad nauseum and because financial advisers and bank managers are trying to scare us into complicated and costly retirement savings plans with their unique brand of fear marketing.

However, did you know that by simply utilizing a few clever planning, budgeting and saving techniques you can forget fearing for your financial future and instead build up secure wealth, create peace of mind and ultimately look forward to a future of financial freedom?

One of the main aspects of securing your financial future is creating a realistic plan for that future and staying focused on achieving your goals.

If you don’t know where you want to be in retirement how on earth will you get there?

Do you want to be a finance-free home owner? Would you like to be in a position to make a down payment on your children’s homes? Will you be sailing the seven seas in a yacht (cue pop-up of corny picture with happy smiley retired people on a boat as used by many financial advisers trying to sell you a pension) or would you like to be living exactly the same lifestyle but in an alternative location?

You have to have something more tangible to work towards than simply ‘retirement’ - so create a picture in your head of where you would like to be and how you would like to be when you come to retire and let this image be your plan and let it guide you.

Next up the majority of us need to budget to create a surplus of wealth that we can put towards achieving our long term aims. Few of us are lucky enough to receive substantial bonuses, inheritance windfalls or lottery payouts therefore by examining closely that which we spend a month we can see where money is being wasted!

I can guarantee that if you save all of your receipts for a month and then sit down and go through them you’ll be shocked at how much the inessentials cost in life! How much for that morning coffee and cake, how much for that service you no longer require but which is debited from your credit card automatically each month, how much for the cab rides you could avoid if only you set your alarm ten minutes earlier in the morning?

Look at what can be stripped out of your life without negatively affecting it – I am not one to advocate living a thrifty and bare life today so that you can buy a Ferrari when you retire – but I am one who believes a little in looking after the pennies…

Set a figure that you can comfortably avoid spending each month and then do something useful with it!

It’s at this point that financial advisers will try and shove it in a pension, your bank manager will try and tie you up into a long term investment and your dad will suggest you shove it under your mattress. I say – whatever works for you!

There are a wealth of alternatives available to suit your attitude to risk, the length of time before you retire, the amount you have available to save, whether you are resident in the country in which you were born or you live overseas, whether you are in a position to boost your savings with tax free investment vehicles etc., etc. By keeping an open mind, subscribing to some tried and tested sources of wealth management information and trusting only those who take the independent approach to financial advice through focusing on the individual saver or investor you will find the right path for your wealth management.

Most of the time, the average person isn’t prepared for a financial emergency. They simply live paycheck to paycheck and leave the planning for bankers and financial advisors. Most financial advisors recommend for the consumer to have at least six months salary in a savings account for immediate access in case of emergencies. The sad thing about this is most Americans simply don’t have that amount of money put away. At least not for immediate access and what little they’ve stashed, they usually end up dipping into it for items like furniture, entertainment, or that vacation they just couldn’t live without, if they didn’t go on.

Does that mean a financial emergency will skip the ill prepared and move on to those that have savings to handle it? Absolutely not. A financial emergency can happen to anyone at anytime. Prepared or not. Anyone could have an accident, fall ill to sickness and have to take time off from work, or in today’s economy, suffer a lay-off. So what do you do if you’re unprepared and the emergency comes anyway?

If you own your own home, you can refinance your mortgage to free up your equity in the form of cash. Remember, if you chose to do this, it is a loan that has to be repaid. Contact your local mortgage broker. Most likely, you’ve already developed a good working relationship with them, considering you already have a mortgage with the company. They are willing to discuss equity loan options with you and help you decide on which plan is best for you.

One of the highlights of my week is when I come home from the supermarket and tell my husband how much money I saved that day. I call myself the Coupon Queen, even though there are better shoppers out there than me. It is a thrill to stockpile household staples, non perishable foods and fun treats for my family.

Before you clip even one coupon, I suggest that you sign up for the customer loyalty card at your local supermarket. Each week there are in store special sales that are only valid with your store card. Some consumers have concerns about the privacy of your information when signing up for these cards. I have never received any unsolicited phone calls or mail, except for special coupons or free samples sent directly from the supermarket. I would never say no to free products!

The other advantage to using your loyalty card is to earn money back on baby products. Here in New Jersey , Shop Rite and A&P have baby buck programs where you receive either cash back or $10 off your grocery order when you accumulate a certain amount of baby purchases. The card automatically keeps track of these purchases for you. The baby items include formula, baby food, diapers, wipes, baby toiletries, etc. When I finally have spent enough to receive my baby bucks, I add the baby bucks amount to the amount I saved in coupons that week.

Another tool in my coupon kit is the website Grocery Game (www.grocerygame.com). This website takes most of the work out of clipping coupons. The people at Grocery Game research your local supermarkets each week for sales and then combine them with coupons that are found in the Sunday newspapers. Instead of you using a coupon for an item when it is not on sale, Grocery Game advises you of when to use the coupon with the sales and pay rock bottom prices. Many weeks, there are items that are FREE with the sale and coupon! Grocery Game also uncovers hidden, unadvertised sales (I am not sure how they do this, but most of the time the hidden sales are correct). An example of this is when Grocery Game advised that an expensive brand of ice cream was on sale. The label on the shelf stated the full price. When I scanned the item in the store, sure enough, the price revealed by grocery game showed up on the scanner. However, other times the hidden sales were not loaded into the store’s scanning system, so it’s a good idea to scan these items first to make sure you will receive the sale price.

Grocery Game also advises you when to stockpile items and when to only buy the item if you need it. Stockpiling is best for non perishable goods. Since I started using Grocery Game, I have never paid for a tube of toothpaste. Usually, once a month there is a free toothpaste or toothbrush item. The cost of subscribing to Grocery Game is $10 per store for an eight week period and $5 for each additional store. This cost is nominal, since I have saved many times that amount using this service. Grocery Game has a referral bonus, so this service could be free if you refer enough friends and they sign up.

The really fun part of couponing is figuring out the percent you saved for each grocery trip. The way to do this is to divide the total amount you saved by the amount you would have spent before applying any sales savings or coupons. For example, if you saved $25 with sales and coupons and the total amount of your order, before the sales and coupons was $75, you would divide $25 by $75. That equals 33%.

Although FOREX traders are generally aware of the importance of daily economic calendars, in order to be profitable, they must go further and understand the difference between surprise and expected.

In order to grasp these concepts, you have to know that this is a game between the financial authorities and the community of analysts, trying to predict the numbers.

While natural disasters, accidents and political moves cannot be expected and therefore they are always considered as surprise news, the economic calendar is well known by the investment community.

In a highly speculative investment environment like the FOREX market, the most important volatility creator is the economic calendar.

Indicators like GDP (Gross Domestic Product), CPI (Consumer Price Index), PPI (Producer Price Index), Unemployment Rate, Interest Rate, Retail Sales and Trade Balance are widely followed and evaluated.

Prior to each report, estimates are published and traders try to position themselves according to what the numbers are expected to be.

These estimates will set the tone and drive the market prior to the publication of each report.

Here comes a rule you have to integrate into your trading, the market discounts every piece of information. Simply stated, the price is the result of all that is known and expected by the investment community.

Even if the report indicates a good economic result, if this has been anticipated through the estimates, the market will not move much, as it already discounted this information early in the process.

However, if the economic announcement does not come in line with the expectations, then we have the so-called surprise reports. The investment community quickly tries to digest and adapt to the new expectations and in doing so, it drives the market in the direction of the surprise news.

Professional FOREX operators avoid having opened positions prior to key economic reports. They prepare trading plans for both, the expected as well as the surprise scenarios and act upon what is published, consequently limiting their risk exposure.

Always remember, only surprise news will move the market. Even if the report shows a strong economic sector, if the actual numbers are in line with the analysts' expectations, the market has already absorbed and discounted the numbers, therefore it will not move much.

Quite a few years ago I was a bartender in a small town on the outskirts of Pittsburgh, Pennsylvania. My girlfriend (who is my wife now) went to Dover for a NASCAR race. While I was working in the bar all alone she phoned me asking me to wire her some money as soon as possible.

I didn't see how that would be possible because I working alone and by the time I finished work all the banks would have been closed. Of course, I tried to explain that to my girlfriend but she told me that I badly needed to wire her some money because if I didn't she wouldn't be able to make it home.

It wouldn't have happened like that if she hadn't forgotten her credit cards and ATM card. She noticed she had not taken them when she tried to buy some food at a store while travelling. She had some cash but not enough for the whole trip. Thus, my girlfriend desperately needed money. What made the things so worse was the fact that she couldn't find her friends either.

I wouldn't be surprised if this happened now but back then I was stunned that she could have forgotten her credit cards and bank card as well. When we finished talking on the phone the bar was full of people wanting to have a drink. And of course, on top of everything this was a Saturday evening.

Things were getting worse because even if the next bartender came earlier I couldn't leave her alone with so many customers. I didn't really see how I could leave my post to wire money to my girlfriend. She had no other choice but to wait until I finished work. I got really lucky because we were friends with some of the regular customers and one very nice guy offered to wire money to my girlfriend instead of me.

I was relieved that I had found a way out of this complicated situation. However, even though this man seemed very kind, he was quite thick and little slow. I thought that such a task would be quite confusing to him. But it is not like I had any other options, so I gave him the cash and hoped everything will be fine and he will manage to wire money to my girlfriend in time.

A few hours passed and I thought everything was okay but it wasn't. My girlfriend called in a panic. She said there was no money. I assured him that money was sent because I had the receipt. When he checked again, I carefully examined the receipt and I saw that the recipient was the person I sent to wire the money, instead of the sender.

I wished I didn't have to tell either of them about this but I had no other choice. I carefully explained what had happened to our friend. He immediately went out again to correct his mistake. That time he wired the money double-checking who is sending and who is receiving it. Of course, everything was fine in the end. These things can happen to anyone.

Well, believe it or not there is a revolution that is teaching students, and teenagers how to become financially literate. For many parents, teaching financial management to their children can be an almost impossible task. But, perhaps there is now an answer.

So what this new financial management revolution? Well it’s still early days but it comes in the form of a “Pre-Paid” card, which is very much like a debit card. It is PIN-based and endorsed by and bearing the logo of a major credit card carriers, such as MasterCard or VISA, it can be accepted by the myriad businesses, restaurants and shops around the globe that accept those cards.

It is the parents that decide how much money is put on the card each month, but the child or students job to manage their own finances from there. They know exactly how much money they have each month and they will need to budget accordingly.

The great thing is that so far, this new financial management tool is an all round winner. Parents know exactly how much money they are giving their children, instead of handing out money many times a month for outings or clothes. Of course they also have the knowledge that their child has no choice but to use the card responsibly or face the consequences, (being broke!).

It is also possible for parents to set parameters for the cards in terms of where they can and cannot be used. That way if there are certain types of establishments where you don't want your son or daughter to spend the money you're giving them for living expenses, they can be blocked. This is done by business categories though, not by individual establishments. This feature is part of what makes this type of card a financial management tool. It's ideal for youths who aren't quite ready to have an actual debit card or credit card.

Children and students also love the new Pre-Paid card. I know I would have liked one when I was a child. Although they have to learn financial management they are getting a sense of freedom and independence in return, and for young people this feeling is very important.

People in the financial industry who sell these cards love them too. These cards usually have a modest activation fee and a minimal monthly use fee. A sales agent receives a commission for each card issued as well as a portion of the monthly fee for as long as the card is active. This makes it a win/win for families and for the banking card industry.

Saving money is never easy. Just when you though of saving the extra bucks, there goes the chance to put aside more money after you splash on your next latest gadget.

But have you honestly thought of why you wanted to save money in the first place? Is it to just to pay for the deposit for a car, the new Pentium computer or for your next Hawaii vacations? Perhaps you need to plan for your kid’s education or your own retirement needs? After all, if you know why you are trying to save more money, the motivation would be stronger.

The following tips will help you to save more money easily.

One tip to save more money is to start tabulating your expenditure. One thing that I have carried out is to divide my monthly expenditure. By dividing my expenses into different categories ranging from my insurance needs to my daily food purchases, I am able to know how much I should spend on each item.

In order to save more money, you also need to cut down on your expense. Try looking for freebies, renting instead of buying and buying things in bulk. Use recycle papers and try looking for second hand good off the internet. I have even subscribe to a free internet telephone just to save a few more dollars per month. Make use of skype and other free services around to save on your monthly bills if you can.

Saving money requires planning and knowing your long term goals helps as well. And by building some form of passive income, the amount of money you can save each month also substantially increase. However, building a passive income is not a one day affair and it still pays to watch your daily expenditure and working hard for that promotion before anything else.

If you want to be successful as a FOREX trader then proper training is the key. A we trained trader will be more knowledgeable about the market and how it can be expected to move under a given circumstance. This knowledge will give you a greater chance of making profitable trades. Trying to trade without this knowledge is the same as shooting blind, your chances of successful trades is very slim. While you may get lucky and make some money on some trades in the long run you will most likely lose.

The Internet abounds with information on how to trade and make money doing it. There are literally hundreds of web sites with beneficial information and there are a multitude of books available to help you learn about all aspects of FOREX trading. If learning from a book is difficult for you there are training systems available that will teach you in an easy to learn step-by-step style.

If you have the time to invest in it you can find all of the information you need for free on the Internet or at your local library. The only problem with the information on the Internet is that it tends to be poorly organized if it is organized at all. All of the information is there but it may be difficult to pull it all together in a usable format.

There are courses available that will present all of the information in an easy to understand and structured manner to make learning about FOREX much easier. While this information is not free it might be well worth the investment in saved time as well as thoroughness of knowledge. There are courses available for all levels of expertise.

The cost of these training courses can vary dramatically anywhere from free courses to $1000 or even more. As is so often the case you get what you pay for. There are many free online courses that will give you at least the rudimentary skills for trading but will not have some of the deep level training such as analyzing and reading charts.

There are two major types of study courses available. You can either take an actual classroom class where you will attend physical classes with other people. You can also sign up for online courses where you will do y our learning on your pc from your home. You can find these classroom classes available in most cities, there are classes for beginners that cover the basics of trading as well as more advanced classes that will teach you higher-level skills.

With a classroom class you have the advantage of personal attention, you will have an instructor that can answer your questions directly. The downside is that the classes are not as convenient and your are stuck with the class schedule and must be sure to attend all classes.

You can also attend seminars to learn more, to benefit from a 1 or 2 day seminar though you should at least be pretty knowledgeable about the basics of trading. Just like classes these seminars are available in most major cities and are usually available every couple of months. Seminars are usually lead by well-known FOREX professionals who will share strategy and techniques with the attendees.

If you prefer to study at your own pace then you should investigate an online or CDROM course. You can use these as your schedule allows from the comfort of your home or office.

If you have the option the absolute best way to learn FOREX is with an individual instructor or mentor. Someone who will teach you at your pace and learning style.

So you’ve survived college. You head out into the working world with your fresh diploma in hand and land a plum job making more money than you could’ve ever imagined. Your first instinct is to go get that big screen TV or plush ride that you’ve been eyeballing for the past year. After all, why not? You’re making the cash now, you can afford it, can’t you? But wait. Before you take the plunge on that big ticket item, practice that old safety adage they taught you way back in elementary school about crossing the street: “Stop, look and listen.”

Stop.

So you’re finally making a little bit of coin, good for you. But don’t make the mistake of many of your peers and splurge on a big purchase. If you’re a recent college grad new to the working force, odds are you have credit cards to pay off and the burden of student loan repayments to deal with. Do you deserve to be rewarded for surviving years of boring lectures and countless all-night cram sessions? Sure you do. But your first order of business should be getting out of debt, followed shortly by investing in your future.

Look.

That new job can offer you more than just a nice paycheck. Along with health insurance and other fringe benefits, most employers today offer generous 401(k) plans. As soon as you’re settled into your new cube or office, head over to your human resources department and sign up for your company’s 401(k) plan—it’s the most important thing you can do when planning for your financial future. I know what you’re thinking, “retirement is a long ways away, why should I deal with it now?” Much of your generation feels the same way. In fact, a recent study found that almost 70 percent of workers ages 18 to 25 don’t contribute to a 401(k) plan. Don’t be one of them. The sooner you sign up, the more money you’ll make in the long run. Most employers will match your contributions up to a certain percent. Contribute to that number, declining to do so is the same as refusing free money.

Listen.

Okay, so you’re contributing as much as you can afford into your 401(k). Congratulations, the hard part is over. Next up, you’ll have to decide how to invest. It can be confusing, but when you sign up, usually a financial representative will guide you through the steps. When contributing to a 401(k), you’ll be investing in a mix of stocks and bonds. The trick is in selecting the combination that is right for you. History shows that while stocks are more volatile, they usually show higher returns over the long term. However, there’s no sure way to predict that what has happened in the past will happen again in the future, that’s why it’s important to insure yourself by investing in bonds, as well. Bonds, while typically not showing the same high returns as stocks might, have shown to be a solid—albeit slower—investment strategy. To make the wide world of investing a little less confusing, most employers offer index funds and target funds designed with different age groups and investment strategies in mind.

I could write an entire book about this topic. I have been broke three times in my life, and I can tell you, the view from the bottom of the pile is not very good. Everything in our life is there to help us to learn a valuable lesson. When we fail to learn this lesson, unfortunately we get another opportunity to learn it. And another, and another… if we persist in failing to pay attention to our life teachers.

Money is a tool – nothing more – that creative people use for any number of reasons – some worthy and some not so worthy. Money, unfortunately, is the primary measuring stick used today by most people to determine their worth as a person. I have known a lot of wealthy jerks, and I have also had the honor to know many hard-working, decent people who were good friends, parents, spouses and sons or daughters, squeaking by financially week after week, year after year.

You are not your money and your money is not you, and I don’t really care what you are doing with it. I have met some very wealthy people who gave a great deal to charity only for the recognition, and I know people who have very little and give a great deal (more than they can afford) to others. Financial crises are valuable tools. They can teach you humility, tolerance, creativity, a valuable work ethic, caution, and any number of worthwhile lessons.

So, if you are in the middle of a crisis, don’t whine, blame or feel sorry for yourself – get busy. If you are wealthy and want for nothing, don’t get too cocky – you never know. And besides, no one can buy his way into God’s good graces. Trust me, He doesn’t need your cash or your gifts of charity. He is doing very well, thank you, on His own. Remember that money is a measuring stick for your success and worth, but only if that is how you choose to be measured.

Financial success isn't a hard task to master. It simply takes dedication, hard work and a little old fashioned commitment.

But it also takes a little knowledge. Too many consumers are ignoring what are financial truths. They run up large amounts of debt just to appear successful to those around them. They surround themselves with things that only make them feel better for a minute.

They ignore the fact that a debt-free and well managed financial life is a wonderful way to eliminate stress, which is all too common in today's world.

What do you need to do to become financially successful?

First, you need to spend less than you earn. Sounds easy, but it really isn't. It is easier to spend less than it is to earn more. You simply have to cut your costs. You have to stop charging on your credit cards and you have to stop shopping. Look closely at where your money is going. Look at what you already have around you. Get all those projects completed before you buy things for a new project.

You have to have a budget and stick with it. Budgets don't tell you how to spend your money, they tell you how to save your money. You can easily see where your money is going. You can identify areas that you can cut back on. Then, you can set spending goals. A budget is a great way to challenge yourself. There is nothing better than saving more money than you thought you could. Surprise yourself with a budget that works.

From your budget, you should be able to find the money to start paying off that credit card debt. If you are severely in debt, you may need to get a second job and sell some things to get a head start. Stop using those cards and start paying them off. They are draining the life out of your finances on a daily basis.

You should be contributing to a retirement plan. Research your options and take advantage of them. Don't wait until tomorrow, it will be too late. Start now. When you pay off your debt, put that money to your retirement as well. Who knows -- you may be able to retire early.

Once you have your debt paid off you should have a savings plan. There are goals that you can set for your savings. You may want new furniture or to go on a vacation. You should also save at least three to six months of money to cover your monthly expenses in the case of an emergency. This will cushion your budget from any repairs, emergencies, illnesses or job losses that may happen.

Financial success isn't difficult. It is simply a habit that you have to nurture and maintain. Take the time to sit down and get started. Work on it until it becomes second nature. The more you work on it, the better you will become at it.

The simple problem is that it is so very easy to spend money. We get it in our minds that we deserve something, that we need something, that something will make our lives better -- and we just buy it. No matter how little we can afford it.

Have you been there? Well chances are that you've used a credit card to buy the thing that you couldn't resist. There are many people out there that shop as a outlet for stress or for other negative emotions.

If you are in this position, you can change it. All you have to do is take control of your spending. If you start now, you will save yourself a lot of stress and sacrifice down the road.

You see, debt isn't the main problem. It is your spending that gets you into the debt. Without the spending there would be no debt.

So ask yourself -- why do you charge things you can't afford? And the answer isn't that you can pay for them later. Why did you feel the need to use your credit cards when you know what a financial trap they are? You know that you will struggle to make the payments, so why do you risk it?

Many people simply put the danger of credit cards out of their mind. After all, it is just a little swipe through a machine and the card gets hidden back in your wallet.

You need to face the reasons that you are spending what you don't have. If you don't address them, you may never get control of your spending and the subsequent debt.

If you are putting all of your money to paying off things you bought yesterday, how will you own anything tomorrow?

Start with putting those credit cards where you cannot quickly access them. I use a safe deposit box in a bank in another town. If there is an emergency, I can always drive there and get a card out. But it is too much hassle for just shopping sprees.

Now start carrying only cash on you. This way, you won't spend more than you have. Studies indicate that most people will buy less when they are carrying cash. Personally, I've found this to be true.

And don't worry, we all slip up every now and then. All you can do is get yourself back up and start working on it again. Remind yourself why you need to control your spending. What is it you want out of your money? Do you want to retire? Do you want to be debt-free?

Reassess your goals and continue to work on them. But keep in mind that the things you buy today may not last you into tomorrow, but the debt (or savings) will