5 Ways to be Frugal without Being a Cheapskate

There is a huge difference between being cheap and frugal.  I have seen friends that when splitting the bill constantly short their share or do not buy rounds of drinks when it is their turn, yet are still taking part in events, are cheap.  If you were frugal you would avoid attending.  Save face and not be a cheapskate. Some people are willing to pay their bills late before they admit to being broke and looking bad. Ever asked, how long do late payments stay on credit report?, well let me just tell you, far too long! Here are a few ways to be frugal without being a total cheapskate.

Eat Out Less, but Make Sure You Still Tip

One of the first places to remove unnecessary spending is to reduce restaurant and bar expenses.  Sure it is hard to remove going out altogether, but start small and eat at home but get appetizers out, you will save a huge portion of your bill.  Just because you are reducing your bill, servers make money on waiting on you, so for the service they provide, make sure you are tipping 20% of the total bill.

Buy High Quality Large Items

Although you may spend more money up front, when you can afford a new big-ticket item, purchase the premium product that will outlast the off-brand, and impress in the meantime.  Your Weber grill may cost $800 up front, but you will buy two or three cheap brands to last just as long, plus why would you not want to have a Weber.

Cut the Cord, but Do Not Skimp on Internet

Sure you may be wasting money on cable when you can get an HD antenna for local channels and Netflix and Hulu for the shows and movies you would like to watch, but nothing is worse than the constant buffering while trying to watch, so make sure if you are cancelling cable that you opt for the higher grade internet.

Drive a Used Car, but Not a Beater

No one says you have to drive a brand new car, let alone buy one over leasing, they are just ridiculously priced, so a perfectly good used car is fine, just make sure it’s clean and safe not only for you, but also your passengers, otherwise you will be traveling alone.

Grocery Shop during the Week

If you want the best deals and an empty store to yourself while trying to shop, try going after dinner Tue-Thu.  Stores already know they will have guaranteed business Fri-Sun so why put anything on sale during then, and let the diehards save some cash.

 

 

Why You Should Invest in Gold in the Current Market

Gold has been around for a long time. It supersedes the currency that any country uses at the moment. This might be why many investors are reluctant to let go of this yellow metal. Its sheer ability to survive and even shine in a changing economy is an impressive feat by itself. If you have kept an eye on the news, you would have discovered the hype surrounding this precious metal.

As the rest of the global economy is clouded in confusion and instability, the yellow metal is making a reemergence. Everyone is making gold investments as they are tentative about what else they can finance. This means that everyone is hedging their bets and putting their faith in the precious metal. Here are a few reasons why you should as well:

Increase in Demand

When something increases in demand, you want to be the person having an adequate stock of the item. This way, you can take advantage of the increase in price. Well, this is just one of the reasons that you should get a decent stock of the yellow metal. The demand for it has been increasing in 2016. As mentioned, everyone is flocking to this precious metal as they believe that it can help them ride out most tough economic situations. Due to this, there is larger number of people involved in the commodity. As such, there are more people willing to pay for it as well. All in all, it is a good idea to have some on hand.

Counteracting Currency Depreciation

Many people have the tendency to invest in the yellow metal whenever they feel that the U.S. dollar is slipping in value. Of course, the American dollar is not the only currency of importance. Many people are also watching the performance of the Chinese economy as well as its currency. Due to the economic slowdown faced by China, its currency too has taken a bit of stumble. After the Brexit in Europe, the British Pound also decreased in value. This is yet another reason why people are finding solace in the precious metal. It retains its value even when currencies tend to fall. As such, it is a good way to ensure that you always maintain some form of investment that is valuable.

Diversifying Your Portfolio

If none of the other options appeared appealing, at the very least, you should buy the precious metal to help diversify your portfolio. By doing so, you are ensuring that you protect at least a small portion of your overall portfolio. Gold offers a great way to do this. This is because the yellow metal is inversely proportional to most asset classes. This means that when other assets perform badly, the precious metal increases in value. Thus, it acts as a safeguard in the event that the rest of the market hits dangerous lows. As this is something that has been occurring for a while now, it really is a good security option.

These are just a few reasons why you should consider buying the yellow metal. It will serve you well both now as well in the future. This is certainly something that you should consider.

The Initial Brexit Effects on the Pound’s Trading Relationships

The Brexit announcement came as a surprise to many, and even though a lot of traders had hedged their investments before the referendum, the currency markets still saw a lot of action in the immediate aftermath. Plenty of uncertainty still remains, especially around the pound’s value, offering many future trading opportunities through Oanda. However, it was in those first few days that the Brexit result had a huge impact on the pound’s value and trading relationships.

GBP/EUR

Pound Sterling (GBP) exchange rates saw a general weakening against most currencies it is partnered with. As the euro is one of its major partners and used close to home, the initial impact was understandably that the euro strengthened as the pound dropped to its lowest value in 30 years. The euro remains bullish against the pound, with the Bank of England expected to cut interest rates in an attempt to strengthen yet the Eurozone’s inflation has provided a good boost for the euro.

GBP/USD

The USA is another of Great Britain’s premier trading partners and the USD/GBP is one of the major currencies traded across the world. Immediately the US dollar strengthened in light of a Brexit victory, with many traders and investors viewing it as a safe choice for once. Since then the pound has stabilised a little, with the announcement of a new Prime Minister, which has helped it to edge a tiny bit higher against the dollar, but is still nowhere near pre-Brexit levels.

GBP/JPY

While not one of the major currency pairs, the Japanese yen and Pound Sterling are two of the most traded in the world. As a traditional go-to choice for traders and investors during times of uncertainty, it was of little surprise to see the yen make huge gains before and after the UK’s EU membership referendum. The yen has also since improved against the US dollar, even though it too holds a level of uncertainty.

EUR/USD

The euro and US dollar both strengthened against the Pound Sterling after the Brexit vote, and current forecasts are for a move lower. The remaining uncertainty in the markets with potential effects of the UK actually leaving the EU could see them both benefit further as well. The relationship between the two has stayed fairly stable, with the US dollar having a slight edge for the most part. Either way, uncertainty in the currency markets appears to be the new normal, offering ample opportunities for traders.