The Importance of Keeping a Savings Account

Many people choose a checking account as their primary or only banking choice in today's society. However, a savings account is just as beneficial, if not more. Below are some reasons to consider opening and keeping a savings account.

Earn More Money

Building wealth can be easier to do with a savings account because your funds will earn money while in the bank. The interest rates for these accounts are generally higher than checking; however, this will vary amongst financial institutions. 

Regardless of the amount, it is better to earn money that could build your wealth, opposed to spending the funds.

Savings

After paying monthly bills and other necessary expenses, it is common for people to purchase additional items or services, regardless of whether they plan to use these things or not. 

Keeping the money in a savings account could prevent unnecessary purchases. As a result, those funds could be spent on future emergencies like roof repair or other expenses, such as buying a new home, taking a much-needed vacation, or starting a business. 

You would be less likely to spend money in a savings account than money stored safely at home or in a checking account due to the accessibility and the fact that there is no debit card – you typically need to make the withdrawal or transfer the funds online.

Reduce the Risk of Debt

By staving off the temptation to spend the money in your savings account, you could lower the odds of going into debt. You will reduce the odds of making unnecessary purchases. 

You can spend the money on necessities in an emergency instead of borrowing from family and friends or taking out loans. The latter option could lead to high-interest rates and cause you to spend more money during repayment. 

Therefore, it is essential to maintain a savings account for unknown expenses, and to make future purchases, instead of using credit options that lead to debt.

Safety

Keeping money at home is something most people do for various reasons, such as myths and superstition. The negative aspect of storing cash at home includes being a victim of accidents or theft, causing you to lose your money and not replace it. 

However, by keeping the funds in a savings account, you can have peace of mind knowing the money is safely in the bank and possibly earning interest, which could boost your savings amount.

Opening a savings account is an excellent option when it comes to extra funds or saving up for future purchases. Your money is safely stored, and you are less likely to spend the funds unless there is an emergency.

Is Forex a Good Choice for a Side Job - All the Information

In the last few years, we have witnessed the ever-faster development of technology. Therefore, we have seen the growth and creation of some entirely new, interesting online businesses on the Internet which can change our lives.

The opportunities for earning money in the virtual world are significant and should not be missed. One of those profitable businesses that we will pay attention to in the following text is Forex trading.

We will explain to you in detail what it is and why Forex can be an ideal occupation for everyone who wants some additional source of income.

What is Forex?

Forex is short for the Foreign currency exchange on the. Currently, the biggest decentralized financial market globally is called the Forex market. The market is available to traders 5.5 days a week, non-stop.

Currencies on that market are being traded in pairs such as EUR/USD, USD/GBP, USD/JPY for tourism, trading, commerce, etc. Traders are making money once the currency they bought increases compared to the currency they’ve sold.

Get to know the role of a Forex broker.

The role of the Forex broker is to provide traders secure access to trading platforms for Foreign currency exchange. Since the Internet is filled with scam brokerage websites, it’s crucial to read quality reviews such as the HubbleBIT review and check relevant brokerage forums.

In that way, you’ll make sure that you’re not dealing with fraudulent brokers that may steal your identity, money, or other critical personal data. The Forex broker needs to be regulated by a financial regulatory body to offer 24-hours customer support, free educational material, and excellent account features.

Why should you consider Forex as a side hustle?

What many people, who are just getting acquainted with the world of Forex trading and all its benefits, are interested in is why choose this business? Are there outstanding earnings? Does it disrupt a full-time job from 9 to 5, which they are not ready to give up?

There are several reasons, and they are straightforward. Therefore, we will point out the top three reasons. Forex trading is your perfect side hustle!

#1 It’s flexible

The most common reason people choose Forex trading as their second source of income is flexibility. We learned that the working hours of the Forex market, which has a daily turnover of $ 6.6 trillion, are 24 hours a day, five days a week.

And hence flexibility, which means that everyone can choose when and how much time they want to trade.

#2 You are your boss

There is nothing more beautiful in the business world than not having a superior to whom you will have to justify yourself and constantly fulfill his orders. In the Forex Market, you are your boss responsible for your every success.

#3 It does not require much prior knowledge and investment

Perhaps the most substantial reason for the vast majority is that Forex trading does not require significant prior knowledge or significant investments. All Forex information is available online, and most are free. Also, only $ 100 is enough to start this type of business.

Conclusion

Of course, to successfully deal with Forex, even as a side hustle, takes time, dedication, and perseverance. Therefore, find out a lot about Forex before you open your account, practice for a while with a good Forex strategy, and do not give up even when the period of crisis comes. Good luck!

How to Turn Your Home Extension Into a Success

There are many reasons you might be interested in extending your house. Maybe you want to accommodate your guests or need extra space to create a home office. 

Either way, they're important things to keep in mind. This piece contains information on how you should plan your home extension project.

Finding an Architect

When it comes to the structure of your home, you want to make sure everything is done as expected. That's where a qualified architect comes in. He'll ensure your project meets local building codes and that everything will be structurally sound.

Think About Plumbing and Appliances

Consider updating the plumbing and appliances to update your home when doing home renovations. Doing so will give your residence a more modern look, making your home more impressive to potential buyers when you want to sell it.

Think About The Future

You should know your plans for the future before you begin any home extension. Will you stay where you are or are you planning on moving? 

You should also think about how many people will be living in the home because that will determine how big your extension needs to be.

Work With a Contractor

If you consider hiring a contractor to work on your home while you aren't home, always get a written contract and go through it before signing. 

This ensures that there is no confusion about what was agreed upon. You'll also have a record of the contract should any potential disagreements arise.

Your home extension must have easy access. Think about whether guests will need to access certain rooms of your home. Also, you'll want easy access to your bathrooms and closets, even if they are located in other parts of the house.

Create a Budget

Before planning your home, you need to create a budget home extension. It can be easy to get carried away and spend too much if you don't have a budget in mind before you start.

Safety is Important

Everything about home extensions should be done to code. You do not want any potential safety hazards or building code violations when the project is complete, so hire a professional to do the work. 

Your project may not pass code inspection on its own, or it might be up to code when you hire someone if they're going to do a rush job.
Conclusion

It's imperative to make informed decisions regarding extending your home. This will ensure the project is completed and no costly mistakes. Follow the tips in this article to make the best decisions on the project.

5 Reasons to Meet With an Attorney to Write Your Will

Many people put it off writing a will until it's too late. This is often because they don't know where to start or think they don't have enough assets to warrant meeting with an attorney. 

However, there are many reasons why you should meet with a will attorney sooner rather than later. This blog post will discuss five of the most important reasons.

What Is a Will?

A will is a legal document that designates who gets your property after you die and how you want your property distributed. If you do not make provisions in your will for someone else to receive your property, your property goes through probate.

Protects Your Interest

The first reason you should meet with an attorney to write your will is to protect yourself. You may be surprised by what happens if you die without making any provision for someone else to inherit your property.

Keeps Your Family Together

Another reason why you should meet an attorney to write your will is so that you can keep your family together. So many families get separated because one person dies, leaving behind no will. 

Without a will, the deceased person's spouse (or other relatives) could end up getting nothing from the deceased person's estate. Having a will written up ensures that everyone gets what they deserve.

Helps You Avoid Probate

Probate is the process whereby your property passes through court proceedings before being given to the rightful owner. It takes time and costs money. Therefore, if you have made adequate provisions in your will, you can skip the probate process altogether.

Saves on Taxes

Another reason you should meet a lawyer to write your will is to save on taxes. If you don't have a will, the government has to go through the probate process to determine who inherits your property. They also have to pay out all of the inheritance tax owed. A properly drafted will avoid these problems.

It Provides Guidance on Inheritance

When you create a will, you can designate exactly how much each beneficiary will get upon your death. So, for example, if you name your children as beneficiaries but only give them $10,000 worth of inheritance, then the rest of your property would go to your spouse.

When writing a will, you need to remember that it is better to plan than to regret it. So, if you haven't already met with an attorney to draft your will, now is the perfect time to schedule an appointment with a will attorney.

Need Plumbing Help? Here Are 5 Signs Indicating It's Time to Call a Plumber

Regardless of whether you have a clogged toilet, runny faucet, or burst water pipe, the last thing you want to do is try and tackle these problems on your own.

In most cases, these issues can be handled with relative ease and without spending a lot of money. However, there are certain circumstances in which calling a plumber is the only choice. Here are five signs indicating that it may be time to call a plumber.

Frozen Pipes

The pipes in your home are normally filled with water, but when temperatures dip below freezing, the water inside them freezes. A frozen pipe is one of the more common plumbing problems that occur during cold weather.

Although you may be tempted to try and thaw the pipe yourself, it can easily lead to a flooded house and can be extremely dangerous. There is also a danger of electrical shock if you use a heat source too close to the pipe.

The best way to deal with frozen pipes is to call a professional plumber immediately, who will use special equipment like thawing machines or propane torches to safely melt the ice away.

Discolored Water

Discolored water and smelly water can be dangerous. Although these types of issues may not seem severe, they could be a sign of a more serious problem.

Troubleshooting discolored water and smelly water issues is important because they can indicate mold or bacteria growth inside your home's pipes. Within the next few hours or days, you might notice symptoms such as skin irritation, nausea, and headaches.

Even if your discolored water or smelly water doesn't produce noticeable symptoms, it could still be present in your drinking water. Contacting an experienced plumber is the best way to treat these concerns before they worsen.

Pipe Noises

If you hear funny pipe noises in your plumbing system, you should contact an emergency plumber as soon as possible. Treating this issue is not something that people can do themselves, and it is advised to seek the help of a professional to fix the problem.

Pipes that make funny noises are most commonly a result of trapped air pockets in the lines. Even though it might sound weird, these pockets are common, and they can form when air enters the line through leaks and cracks.

The truth is that it may be very dangerous to ignore these noises and continue using the water in your home. The main danger presented by this situation is that water can enter the air pockets and cause gases to be released. These gases can include potentially dangerous bacteria, viruses, and other harmful substances.

These gases can enter pipes through leaks or cracks in the plumbing system, from other places in your home (such as toilets), or even from outside sources. 

The presence of gas bubbles in your pipes increases pressure on those pipes, which can lead them to burst or collapse. If that happens, huge amounts of water will leak into your home and possibly cause extensive damage.

Water Leaks

Water leaking from a broken pipe can cause a big mess and create serious damage to your home if it's not handled quickly by a professional plumber. Here are some telltale signs that you may have a leak.

If your water bill seems abnormally high, it could be caused by hidden leaks. Check the places in your home where plumbing is located. See if there's any visible moisture or unusual dampness on the walls or floors.

This means that there is too much moisture in the air, so it's seeping into your pipes, causing them to swell and potentially break from the pressure of having too much liquid inside of them.

Dripping Faucets

Dripping faucets can be a costly and hazardous problem. They cause water damage to your home that can cost you thousands of dollars in repairs. 

The good news is that there are many ways to fix a leaking faucet. However, if you are not sure how to go about it, then you will need the services of a professional plumber to help you with this problem.

As a homeowner, if you start to notice any of the above signs that something may not be right with your plumbing, it’s probably time to call a plumber. 

If your toilet is running, or if you can hear gurgling noises in your pipes, it might be time to look into hiring a plumber as well.

3 Bad Reasons to Claim Social Security at 65

If you're not acquainted with how Social Security functions, you may presume that there's a single age at which eligible receivers need to apply for benefits. Not so.

You actually get an eight-year window to insurance claim benefits that begin at age 62 and go on till age 70. (Technically, you're not required to apply for advantages at 70, but there's no financial incentive not to.) Smack in the middle of that window is 65, an age often related to retirement.

Here are a few wrong reasons to take benefits then.

Do you think it's your full retirement age?

Your full retirement age is the age at which you're qualified to take your full month-to-month Social Security benefits based upon your earning history.

That age used to be 65, as life expectancies have actually raised, older workers have been required to wait on accumulating their advantages in full.

Presently, the full retirement age for people born between 1943 and 1954 is 66.

Those born in 1960 or later have a full retirement age of 67, as well as for those born between 1955 and 1959, full retirement is 66 and a few more months. For that reason, to take benefits at 65 would mean reducing monthly benefits.

1. What kind of reduced benefits are we discussing?

It relies on your complete old age, yet you'll lose roughly 6.67% of your complete month-to-month benefit for each year you apply early. Therefore, if you're looking at the full old age of 67 yet claim benefits at 65, you'll lower your benefits by 13.34%. The ordinary existing monthly benefit is about $1,400, so if that's what you're eligible for at a complete old age of 67, yet you submit at 65 instead, you'll obtain a little over $1,200 as opposed to $1,400.

2. You assume you're needed to sign up for Medicare and also Social Security all at once

Many people have a tendency to connect Social Security with Medicare, thinking the two programs are interrelated, but they do have mutual regulations. 

One essential distinction is that Medicare eligibility begins at age 65. Also, you have to sign up for Medicare approximately 3 months before the month of your 65th birthday to get things started. 

But don't confuse Medicare eligibility with that of Social Security. Practical as it may appear to apply for both simultaneously, you'll reduce your Social Security benefits by going that route.

Though you're enabled to apply for Social Security as early as age 62, Medicare has a company eligibility age of 65 unless you qualify as a rare exception. 

Consequently, you must generally enroll in the two programs independently unless there's an engaging factor to claim Social Security at 65.

3. You think Social Security will run out of money if you wait

Many Americans file for Social Security before retirement age because they're worried the program is going broke and want to get their hands on their money while they still can. So, let's quell that rumor since it's somewhat unjustified. 

While it's true that the program is encountering some economic difficulties and may need to reduce advantages in the future if Congress does not fix it, there's no reason to think Social Security is disappearing. 

The program can maintain benefits at their present degree until 2034, which leaves lawmakers more years to resolve its future shortfall. Consequently, you should not hurry to file for benefits at 65 because you don't want to wait any longer.

Naturally, there are some scenarios where claiming Social Security at 65 isn't a negative suggestion. For instance, if you find yourself out of work, it's much better to take benefits than acquire credit card debt to pay your living expenditures. 

Yet if you're filing at 65 for any of the above reasons, you're doing yourself an injustice that can come back to bite you in retirement.