Most young people don’t learn the tenets of personal finance in school, but building solid habits throughout your teens and early twenties can help set you up for a truly prosperous life.
Tagged With investing
Facebook’s stock dropped 19 per cent yesterday after the company told investors user growth had slowed in the wake of the Cambridge Analytica breach, one of many scandals currently plaguing the tech giant (it missed revenue estimates as well).
Investing isn't as hard (or as risky) as it seems, but it's a lot of information and it does take some time to learn, which turns many people off of it altogether. However, if you've been putting it off and you have a hefty amount of cash savings, consider the problem of inflation.
Video: We've already told you how to buy Bitcoin and other cryptocurrencies. But should you?
With the market fluctuations the past week or so, there have been questions about when to rebalance your portfolio, if at all. Some say it shouldn't interfere with your long-term plan, and to stick to once a year. Others say the time to rebalance is right after the market goes up or down by five per cent or more.
Bitcoin's plummeting and a whole lot of cryptocurrencies are going down with it. Since early January, we've seen half the market value disappear. Some initially called it a 'bloodbath'. But it's been getting worse and worse. A single coin was once worth nearly $25000, now it's floating under $10000.
Is it time to get out?
That's a real tough question to answer.
Personal finance is like nutrition: It seems like the experts in this arena can't agree on anything, whether it's setting up an emergency fund or paying off your mortgage early. Despite all the contrasting opinions, though, most people agree on at least five basic fundamentals.
My dad and I are about as different as two people can be when one formed the life experiences and personality of the other for 18 years: He's a Midwestern lawyer who lives for Michigan football, and I'm a know-it-all East Coast transplant who's a proud University of Michigan graduate but enjoys tailgating more than the actual game.
In just the last month, it feels like Bitcoin has surged to mainstream prominence, popping up on social media, TV, radio and just about anywhere information is exchanged. However, though Bitcoin may be the most popular cryptocurrency, it’s not the only one – arguably, it’s not even the best one.
We’ve rounded up the ways you can buy Bitcoin, other cryptocurrency and altcoins in Australia.
"I don't trust investing," a friend said once. I asked her why. "Isn't it kind of like playing the lottery?" she asked. Investing is intimidating enough for people as it is. Toss in something as unpredictable as cryptocurrency, and people give up on it altogether. It reinforces the notion that investing is like buying a bunch of scratchcards.
If you've been tempted to get in on the blockchain currency racket, first read tech writer Mark Frauenfelder's story of losing access to $US30,000 ($39,186) in bitcoin. Ask yourself if you could handle the stress of trying to guess a seven-digit PIN, knowing that every time you guessed wrong, your money would get locked away for hours, then days, then years. Ask yourself what you'd do if your investment paid off tenfold, only to disappear in a fire.
Chances are good you’ve at least heard of Bitcoin and the concept of digital currencies. Lately, they’ve been in the spotlight more than usual.
With good reason. Bitcoin prices have skyrocketed from just under $1,000 for one Bitcoin on January 1, 2017 to more than $6,000 at the beginning of November 2017.
That’s 600% in less than a year.
Enough people have made a decent amount through Bitcoin that investment groups are sitting up and taking notice.