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[ad_1] The Indian Rupee is likely to depreciate further on Tuesday amid strong dollar and pessimistic market sentiments. In the previous session, rupee dropped 19 paise to close at a record low against the US dollar, after settlements. At the interbank forex market, the local unit opened weak at 79.30 against the greenback and witnessed an intra-day high of 79.24 and a low of 79.49. After hitting a series of record lows in recent months, the local unit closed out Monday at its lifetime low of near 79.44 per dollar. Amid the constant pressure on Rupee due to persistent FII outflows, elevated crude prices and risk aversion in markets, the Reserve Bank of India (RBI) on July 11 said that it was putting in place a mechanism to settle international trade in rupees. “The rupee is expected to depreciate today amid strong dollar and pessimistic global market sentiments. Also, investors will focus on inflation number from US that could influence Fed’s path for interest rate hikes. Further, the rupee may slip on persistent FII outflows and fears over slowdown in global economy. Also, market awaits India’s inflation numbers that is expected to stay above 7% for third consecutive month. Meanwhile, RBI measures to enable free flow of dollars into NRI accounts and set up of mechanism to settle trade transactions in rupees may provide some support to domestic currency,” said ICICIDirect. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services “Rupee continued to remain under pressure and fell to its record lows following broader strength in the dollar against its major crosses. Yesterday, the RBI put in place a mechanism for international trade settlements in rupees, which banks will need seek prior approval to use. The order takes immediate effect and the mechanism is designed to “promote growth of global trade with emphasis on exports”. Today, on the domestic front, focus will be on the inflation number and expectation is that the number could come in a little higher and cement a case for more rate hike by the RBI. Consumer price data is due today and is this week’s major U.S. economic focus. We expect the USDINR(Spot) to trade with a positive bias and quote in the range of 78.70 and 79.50.” Sugandha Sachdeva, Vice President – Commodity and Currency Research, Religare Broking “The Indian rupee has pummelled to a fresh record low of 79.49 mark in line with the broad strength seen in the mighty dollar. With the US economy adding jobs at an impressive pace in June, the odds of a series of aggressive rate hikes have increased further, which is pushing the dollar index on an upwards trajectory. The greenback has surged towards a new 20-year high as the concerns about higher terminal rates in the US and deteriorating growth prospects are leading to safe-haven flows in the dollar, which is likely to weigh on the domestic currency in the near term.” “On the domestic front, concerns about a ballooning trade deficit which has surged to a record high of $25.6bln in June are adding further pressure on the local unit. Besides, India’s forex reserves have declined by $5bln to $588.31bln during the week ended July 1, highlighting the fact that RBI has been proactively intervening in the forex markets to curtail excessive volatility in the rupee-dollar exchange rate. Considering the dynamics, once the Indian rupee breaches the crucial 79.50 mark, we envisage it to weaken towards the 80 to a dollar mark in the coming days.” Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas “Indian rupee touched a record low of 79.49 on weak domestic markets and a positive US Dollar. Domestic markets were down by about 0.4% while Dollar index rose by 0.52%. However, weak crude oil prices provided a cushioning effect. FII outflows on Friday stood at Rs 109 crores. Rupee is expected to trade remain weak on a positive tone in US Dollar. Dollar is likely to strengthen further on upbeat jobs report. US non-farm payrolls added 372,000 jobs in June, sharply above expectations of 260,000 jobs. This has raised expectations that US Fed may hike rates aggressively by 75 bps in its July policy. Markets may look out for US consumer inflation data which is expected to rise to 8.8% from 8.6% in the previous month. Rupee may trade in the range of 78.80-80 in next couple of sessions.” (The recommendations in this story are by the respective research analysts and brokerage firms. FinancialExpress.com does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.) [ad_2] Source link

[ad_1] The post Honeygain Review: Passive Income from Your Internet Connection appeared first on Millennial Money. There’s a lot of chatter about passive income these days… which means there’s a lot of confusion about what it actually is. Let’s set the record straight.  At a basic level, passive income is money you can earn without a ton of labor. Often, we hear the term associated with the stock market and real estate investing. In both of those scenarios, the more money you put down, the more you stand to gain.  But there are also ways to earn passive income without spending a dollar. And this is where services like the Honeygain app enter the equation. I’ll explain how Honeygain works and the ins and outs of the platform so you can decide if it’s a worthwhile passive income opportunity. Overall Rating Pros Truly passive income Free to use Transparent data use Decent sign-up and referral bonuses Cons Somewhat low earning potential High payout threshold Limited customer support Inconsistent earnings What Is Honeygain? Honeygain launched in 2018 as the first-ever crowdsourced residential proxy networking app. Sound confusing? Don’t worry. It took me a bit to figure out what Honeygain is about, too.  Let me break it down: At its core, Honeygain helps its members make money online by sharing their internet connections with businesses. It’s available in more than 150 countries and is currently growing its member base by 30% each month.  If you’re unfamiliar with network sharing, this might sound strange. To set the record straight, let’s take a closer look at how it works.  How Honeygain Works Honeygain is a relatively unique platform, which makes it confusing at first. Fortunately, the company is pretty transparent about how it uses your internet data. The overall idea of Honeygain is simple: share your Wi-Fi with folks who need it and make extra money. Before you sign up, it’s important to understand exactly how Honeygain operates.  When you share your data plan, any devices you allow to run Honeygain act as connection towers.  Honeygain uses them to gather any unused data, which it sells to its partner businesses. These partners generally include data scientists, large companies, and market research firms. Here are some of the most common ways these partners use the data: Market research Ad fraud prevention Brand protection Price comparison Travel fare aggregation SEO monitoring Content delivery How to Make Money with Honeygain Now that you know how Honeygain operates, let’s discuss the most important part: how to earn free money.  When you use the Honeygain app to share your data, you’ll earn credits, which you can turn into passive income. There’s a direct correlation between how much you share and how much you earn.  So how do you maximize how much you’re sharing? There are three factors that influence it: your location, the number of IP addresses you use, and your internet speed.  Some of this is out of your control. Certain geographical areas will have higher demand, which will net higher returns. Also, Honeygain’s payouts are based on how many members are sharing their network at any given time. The more people using it, the more spread out the payments are among multiple users, meaning the less you stand to make.  To get the best chance at earning, run Honeygain on multiple devices and networks. Honeygain suggests that the optimal way to earn is to use one IP address per device and to enable at least three devices. Honeygain Features Network Sharing Honeygain’s core feature is its app, which is compatible with Windows, macOS, and Android phones. When you sign up, install the app and it’ll work in the background. Unfortunately, Honeygain is not compatible with iOS. That being the case, you can only share mobile data if you have an Android device. Content Delivery Content Delivery is one of Honeygain’s newer features. It requires a more stable internet connection, so it’s only available on Windows and macOS.  Unlike Honeygain’s standard function, Content Delivery utilizes your connection for bandwidth-intensive content like images, video, and audio. To opt into Content Delivery, Honeygain must ensure you have a compatible IP usage type (either ISP or MOB).  From a user standpoint, the main benefit of Content Delivery is that it’s more likely to net consistent earnings. So, if you’re looking to make some cash on Honeygain, this feature is definitely worth checking out. Swarmbytes For regular Honeygain users, there’s a 10 device limit. However, users with a high number of IP addresses can take advantage of Swarmbytes, which allows you to use more devices and earn more money. To use Swarmbytes, you need to fill out an application, which you can find on the Honeygain website.  Lucky Pot Lucky Pot is a sweepstakes Honeygain runs every day. When you log in, you get a Lucky Pot notification. All you have to do is click on it, and you can get up to 10,000 Honeygain credits — a $10 value.  Lucky Pot is completely random but should help you get closer to the payout threshold.  User Experience and Awareness Survey One of the best aspects of Honeygain is its focus on continuous improvement. The platform regularly seeks feedback through its User Experience and Awareness Survey, which you can complete as a member. In 2021, Honeygain gathered survey responses from just under a quarter-million members.  Payment Methods Unfortunately, Honeygain requires a minimum payout of $20 (20,000 credits). According to the platform, the average payout is just over $26. You have two options to receive your earnings: PayPal or Bitcoin.  If you choose a deposit to your PayPal account, you need to register with Honeygain’s third-party payment partner, Tipalti. There’s a small fee for cashing out, and you’ll see the funds arrive in your account within three business days. If you go the crypto route, payouts can take up to a week. There are no fees or registration costs, but you’ll need an external Bitcoin wallet to receive payment.  Further reading: How to Invest

[ad_1] We celebrated the fourth of July with a fun day with friends — ending with watching a nearby fireworks show from a parking lot. He has so much hair and it cracks me up when he wakes up with his hair all sticking up! His little wrinkled brow! I still can’t believe that I’ve been consistently able to pump at least 4-6 extra oz. every morning after Micah’s first feed. I usually use some of it for a bottle for him sometime during the day, but then I’ve been freezing the rest! After always having a low supply, this has just been amazing! Look at D! He started trying to take a few steps this past week! I love this shirt from Goods & Better! His face while being squished by two of his sisters is the funniest! We’ve been loving our evening walks! Micah had another weight check and we were thrilled that he gained back all his birth weight plus an additional ounce!! He’s almost 7 pounds now! C got to meet Micah this past week when we watched him his mom worked. D finally got his orthotics in! Need a smile today? Go watch this. I took the last four weeks off from any real goal-setting since my big goals were just to have the baby and rest and recover. But now that I’m feeling so much better, I’m excited to slowly jump back into goal-setting. My 4 Goals for This Week Personal/Family Goals Delete 1000 photos and videos from my phone. Take Kaitlynn on a date. Reading Goals Finish reading Resilient and Embrace Your Almost and finish listening to No Ocean Too Wide. Business Goals Finish my second round of book edits. [ad_2] Source link

[ad_1] Public capex, which has held fort in recent years when private investments faded, remained robust in the first quarter of the current financial year. Central public sector enterprises (CPSEs) and other large government undertakings like the Railways and the National Highways Authority of India (NHAI) achieved 21% of their combined annual capital expenditure target in the first three months of the current financial year, by spending Rs 1.37 trillion, according to official sources. A year ago, just 16% of the annual target was met by a comparable set of entities. Moreover, Railways and NHAI, the two largest public-sector investors which play a key catalytic role in crowding in capex from assorted other entities, reported impressive capex growth rates of 73% and 44%, respectively, during Q1FY23. Given that the first quarter is usually weak for the delays in release of funds, this is a remarkable feat and signals accelerated momentum in public capex. The Centre too front-loaded capex and spent Rs 1.07 trillion in April-May, up 70% on year. In FY22, the Centre’s budget capex stood at Rs 5.93 trillion, including the amounts routed via the CPSEs, while state governments spent Rs 5.5 trilion on asset-creating ventures. Thanks to higher capex by the Centre, states and state-run entities, the investment rate (gross fixed capital formation/GDP) in Q4FY22 was estimated at 33.6%, the highest in nine quarters. The Q1 CPSE data captures investment by entities above Rs 100 crore/annum while the threshold was Rs 500 crore last year. The capex target for the 59 entities – 54 CPSEs and 5 departmental arms ― with an annual capex of at least Rs 100 crore is set at Rs 6.62 trillion for FY23. The combined capital expenditures by 40-odd large CPSEs and departmental undertakings – all with annual capex budgets of above Rs 500 crore – stood at Rs 5.91 trillion in FY22, an increase of 28% on year. In Q1FY23, Railways was the largest investor among public sector entities by deploying Rs 48,563 crore or 21% of its annual target of Rs 2.29 trillion compared with Rs 28,000 crore or 13% of its annual target of Rs 2.15 trillion spent in Q1FY22. The investments in dedicated freight corridors are not included in this. The railways’ investment is largely in the laying of new lines, doubling of tracks, augmenting traffic facilities, procurement of wagons and Vande Bharat trains, etc. In April-June of the current financial year, the NHAI invested Rs 43,307 crore or 32% of the full-year target of Rs 1.34 trillion compared with Rs 30,000 crore or 25% of the full-year target of Rs 1.22 trillion in Q1FY22. The road ministry has set an “aspirational target” of building highways at 50km/day, translating to a little over 18,000 km for the entire fiscal. Fuel retailer-cum-refiner Indian Oil Corporation achieved capex of Rs 6,595 crore or 23% of its annual target of Rs 28,549 crore in Q1FY23 compared with 16% of the annual target achieved in the corresponding period of last fiscal. IOC is expanding the refining capacity of its plants at several locations in the country. ONGC, the top CPSE player in oil and gas exploration, has achieved a capex of Rs 5,539 crore in the first three months of the current financial year or 18.5% of the annual target. NTPC invested Rs 4,615 crore in Q1FY23 or 20.6% of its annual investment target for FY23. Among others, Coal India’s capex was Rs 3,034 crore or 18% of the FY23 target. With the Centre’s thrust on investment-led economic growth revival, these entities have been asked to accelerate the pace to achieve the FY23 capex target as early as possible during the year. [ad_2] Source link

[ad_1] If you read many stories about entrepreneurship, you’ve probably noticed that most entrepreneurs have multiple streams of income. Mostly by design, business owners go to great lengths to make sure they have money coming in from all directions – or, as some might say, “making sure their eggs aren’t all in one basket.” Entrepreneurship isn’t easy, and income streams dry up all the time. By having money coming in from multiple sources, entrepreneurs can make sure the money never stops rolling in. Income rolling in from all over the place sounds great, right? Unfortunately, it’s hard enough for some people to figure out how to create a single income stream, let alone more than one. I felt the same way when I started learning about money a long time ago. I clearly remember reading Rich Dad, Poor Dad for the first time, then thinking how awesome it would be to become wealthy one day.While the author of that book is often criticized these days (for good reason), it still helped me a great deal, Not only was Rich Dad, Poor Dad a great read, but it opened my eyes to how I could get money working for me, not against me. #ap79722-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Archivo, sans-serif}#ap79722-ww #ap79722-ww-indicator{text-align:right;color:#4a4a4a}#ap79722-ww #ap79722-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap79722-ww #ap79722-ww-indicator-wrapper:hover #ap79722-ww-text{display:block}#ap79722-ww #ap79722-ww-indicator-wrapper:hover #ap79722-ww-label{display:none}#ap79722-ww #ap79722-ww-text{margin:auto 3px auto auto}#ap79722-ww #ap79722-ww-label{margin-left:4px;margin-right:3px}#ap79722-ww #ap79722-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap79722-ww #ap79722-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap79722-ww #ap79722-ww-text-bottom{margin:5px}#ap79722-ww #ap79722-ww-text{display:none}#ap79722-ww #ap79722-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. We may be compensated if you click this ad.Ad #ap79722-w-map{max-width:600px;padding:20px 0 10px;margin:0 auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap79722-w-map #ap79722-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap79722-w-map #ap79722-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap79722-w-map #ap79722-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap79722-w-map #ap79722-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap79722-w-map #ap79722-w-map-map svg{position:absolute;left:0;top:0}#ap79722-w-map #ap79722-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap79722-w-map #ap79722-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap79722-w-map #ap79722-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap79722-w-map #ap79722-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap79722-w-map #ap79722-w-map-map svg g .ap00646-w-map-state{display:none}#ap79722-w-map #ap79722-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap79722-w-map #ap79722-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap79722-w-map #ap79722-w-map-map svg g:hover{cursor:pointer}#ap79722-w-map #ap79722-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap79722-w-map #ap79722-w-map-map svg g:hover text{fill:#fff}#ap79722-w-map #ap79722-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap79722-w-map #ap79722-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap79722-w-map #ap79722-w-map-btn:hover{color:#fff;background-color:#508fc9} Fill your free time and make extra money from the comfort of your own home Savvy internet users are turning to companies like Survey Junkie to make additional money. Click your state to get started. Hawaii HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas Start Now My Multi-Level Marketing Mistake Unfortunately, it took a while for the real lessons to sink in. I was probably 20 or 21 when I read Rich Dad, Poor Dad the first time, which means I wasn’t exactly sure who I was yet. I knew I wanted to work hard and make money, but I wasn’t sure how. This made me a prime candidate for  multi-level marketing pitches, and the dream of “getting rich quick.” If you’re unsure what multi-level marketing is, it’s a term used to describe any business model that rewards people for sales and recruiting others to work beneath them. Think essential oils, AdvoCare, beach body, and all the other annoying sales pitches that clog your Facebook feed. Since I was young and impressionable, I tried two or three of these companies before giving up. I made some money selling, of course, but not nearly enough to justify the money I spent on products and the time I invested. On the flip side, however, the experience helped me quite a bit. Even though I knew I wasn’t cut out for multi-level marketing, I did begin to recognize that I wanted more out of life than just selling stuff to make a buck. I learned I wanted to help people, and that I wanted my profits to be the byproduct of my success. Where multi-level marketing forced me to put profits over people, I wanted to do things differently; I wanted to build a business that helped people first and made profits last. Why Multiple Income Streams is Crucial If you’re like most people, you probably have one primary source of income. And while there’s nothing wrong with that, relying on a single stream of income can be risky. For example, what would happen if you lost your job or your primary source of income dried up?  Many experienced this during the pandemic with job loss and furloughs. That’s why it’s important to have multiple streams of income. This way, if one stream dries up, you’ll still have others to fall back on. Richard Corley, author of “Rich Habits: The Daily Success Habits of Wealthy Individuals.”, analyzed IRS data and found that 75% of millionaires have more than one income stream. And it turns out that this is a strategy that many millionaires use. In fact, according to the IRS, the average millionaire has 7 streams of income! Let’s take a closer look at the 7 most common sources of income for millionaires. 7 Income Streams of Millionaires (According To The IRS) Here are  the 7 most common sources of income for millionaires, according to the IRS: 1) Dividend Income – Income from stocks, mutual funds, and ETFs that are held in a brokerage account How do dividends work?  When a company makes profits, it can choose to reinvest that money back into the business or pay out a portion of the profits to shareholders as dividends. Dividends are usually paid quarterly and are taxable at your marginal tax rate. The more investments you buy that have dividends, the more money you can make. What I love about dividends is that you can reinvest them to purchase more shares, which then entitles you to even more dividends. It’s a beautiful thing! It’s the best form of passive income because you don’t need to do anything other than reinvest the dividends you receive. #ap77802-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Archivo, sans-serif}#ap77802-ww #ap77802-ww-indicator{text-align:right;color:#4a4a4a}#ap77802-ww #ap77802-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end;margin-bottom:8px}#ap77802-ww #ap77802-ww-indicator-wrapper:hover #ap77802-ww-text{display:block}#ap77802-ww #ap77802-ww-indicator-wrapper:hover #ap77802-ww-label{display:none}#ap77802-ww #ap77802-ww-text{margin:auto 3px auto auto}#ap77802-ww #ap77802-ww-label{margin-left:4px;margin-right:3px}#ap77802-ww #ap77802-ww-icon{margin:auto;display:inline-block;width:16px;height:16px;min-width:16px;min-height:16px;cursor:pointer}#ap77802-ww #ap77802-ww-icon img{vertical-align:middle;width:16px;height:16px;min-width:16px;min-height:16px}#ap77802-ww #ap77802-ww-text-bottom{margin:5px}#ap77802-ww #ap77802-ww-text{display:none}#ap77802-ww #ap77802-ww-icon img{text-indent:-9999px;color:transparent} Ads by Money. 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[ad_1] The post Is Financial Independence Possible with Kids?  appeared first on Millennial Money. While it’s definitely more challenging to reach financial independence while having kids, don’t count it out. There are plenty of families who’ve reached their early retirement and independence goals. We’ll share some tips and tricks so this can become a reality for you too. Before we dive in, one of the more common pitfalls for prospective parents is to become discouraged by the projected costs of raising a child. The thing is, these common figures are not representative of most families. The numbers don’t reflect differences in living standards, priorities, or cost of living variations. Using these published figures as a guideline can be helpful, but don’t lose hope when you see them. They’re generic estimates for a standard American lifestyle. Your money mindset will be addressed here as well. Outlooks on material goods, budgeting, and quality of life contribute a good deal to financial freedom success.  The road to financial independence takes extreme dedication. If you don’t have a healthy relationship with money, it could jeopardize your journey. How Much Does Raising Children Cost? The answer to this question is far from standard or straightforward. There are as many figures as there are families. However, these generic numbers can provide helpful estimates for prospective parents. So how much does it cost to raise a child? A simple answer (though not representative of most), according to the USDA, is almost $13,000 per year. This amounts to over $233,000 from birth to age 18 per kid.  This assumes many things: That you’ve paid $4,500 for the birth (unlikely if you have insurance) Considers costs for fertility treatments or adoption if there’s difficulty conceiving Includes almost $4,000 per year for an extra bedroom to house a child Assumes almost $40,000 in total child care costs per kid A $2,000 per year increase for a bigger car (and expenses that come with that) Around $3,000 per year for health care, clothing, entertainment, and necessity basics In my opinion, several of those are inflated or unnecessary living expenses. I’ve raised four kids and was a stay-at-home mom, so I know a thing or two about avoiding some of those costs. Obviously, the necessities of healthcare, food, shelter, basic supplies, and some transportation costs are a given. But what if you’re the type who doesn’t need a giant house, a fancy new minivan, or three activities per kid to feel content with a family? This is where a different money mindset plays a huge part in your ability to reach financial independence with kids. It is doable if you live a more simple lifestyle than those USDA numbers are based on.  Learn More: Investing for Kids 101 11 Best Debit Cards for Kids and Teens 13 Best Banks for Kids 25 Best Side Hustles for Single Moms How to Make Money From Home as a Teenager How to Calculate the Cost of Raising a Child Now that we know the standard cost of raising kids, let’s look at what’s really necessary, and what you can tweak if you want to reach financial independence with kids.  Plan for the basics: Formula and food Healthcare expenses and health insurance Childcare—if benefits outweigh costs Fees for hobbies and sports—if you choose to spend on these. Clothing (young kids don’t need new clothes, by the way) Transportation—gas, insurance, repairs (used cars without payments are ideal) Bed, stroller, diapers, high chair, wipes, other essentials Future education costs—if you plan to foot that bill Most of the above expenses are non-negotiables except for what you choose to do about childcare, entertainment/hobby spending, and future education.  Childcare may only make sense if a second income is well above day care costs in your area. Also factor in commute/gas spending and other expenses such as work clothing, lunches, etc.  Entertainment, hobbies, and sports can eat up a huge chunk of your child-rearing budget. Do some soul searching about whether kids need to do 3 activities each.  College and private education costs are a very personal decision. There’s no right or wrong answer. But what you choose can affect financial independence time tables.  If you’re sure that paying for college for your kids is right for you, then part of your income should be allocated to a college savings account early on. These are funds that won’t go toward your financial independence goal, so budget accordingly. As you can see, there are several personal and unique variables which can affect the costs of having a family.   With some of the nonecessity elements figured out, you can better incorporate kids into your roadmap for financial independence. How Raising Children Impacts Financial Independence  Obviously it’s harder to reach financial independence when you have more people to support. Couples with no kids and dual incomes normally reach this goal faster. Once you start a family, the road to becoming financially independent takes more planning and sacrificing, but it’s still possible. The impact of children on financial independence: Income will be spread thinner when there are more mouths to feed. If childcare costs are too high, a dual income household may no longer be practical. Having a family requires more energy which could drain your ability to add more income sources (not true for everyone).  Financial goals and planning for financial independence must be adapted for child rearing costs. The timeline for financial independence and/or early retirement can be significantly longer after having kids. The temptation to spend more after starting a family is real; your saving capability and willpower may be challenged.  Related articles:  Financial Independence Retire Early Movement How to Live within Your Means 5 Steps to Start Saving The Best Passive Income Ideas Importance of Financial Stability before Kids  One of the most important things you can do if you’d like to have total financial freedom with kids is to become financially stable ahead of time. This may mean sticking to a budget religiously, having a decent income, and being

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[ad_1] Days after the Reserve Bank of India (RBI) eased the buffer norms and interest rate caps on foreign currency non-resident (bank) [FCNR(B)] deposits, State Bank of India (SBI) raised rates on such deposits by up to 105 basis points (bps). The sharpest hike was effected in the maturity bucket of one year to less than two years in the US dollar category, which will now yield 2.85% per annum. Dollar deposits maturing in two years to less than three years will now earn 3%, 85 bps higher than before, while those maturing in three years to less than four years will yield 80 bps higher at 3.1%. The maturity bucket of four years to less than five years will earn 80 bps more at 3.15% and five-year dollar deposits will yield 3.25%, 80 bps higher than earlier. Rates on one-year deposits denominated in pound sterling were raised 25 bps to 2%, in Canadian dollar by 50 bps to 2.3%, in Australian dollars by 50 bps to 1.2%. Interest rates on all deposits denominated in euro and Japanese yen remained unchanged. In order to slow down the depreciation in the rupee, the RBI announced a series of measures last week aimed at attracting stronger forex inflows. Among the measures was a limited-period exemption of incremental FCNR(B) and non-resident (external) rupee (NRE) deposits with a reference base date of July 1, 2022 from the maintenance of cash reserve ratio and statutory liquidity ratio. This relaxation will be available for deposits mobilised up to November 4, 2022. The cap on interest rates on such deposits was removed with effect from July 7 and up to October 31, 2022. Earlier, interest rates on FCNR(B) deposits were subject to ceilings of overnight alternative reference rate (ARR) for the respective currency/swap plus 250 bps for deposits with maturities between one year and less than three years. For deposits maturing in three years to five years, the rates were capped at overnight ARR plus 350 bps. [ad_2] Source link

[ad_1] The post How to Trade Options on Webull  appeared first on Millennial Money. Options trading isn’t particularly easy — which is why it’s crucial to have a user-friendly, data-rich platform to help you make transactions. If you’re thinking about trying your hand at this risky investment strategy, you should definitely look into Webull, an online trading app used by millions of tech-savvy investors.   Keep reading for an overview of how options trading works on Webull so you can determine if the platform is a good match for your personal finance strategy. What is options trading? Here’s a brief primer: An option is a conditional derivative contract between a buyer and seller. When you buy a contract, it gives you the ability to buy or sell an asset at a certain price at a specific point in time in the future.  It’s possible to trade options on stocks, bonds, currencies, and commodities.  Is options trading a good idea? People often ask for my opinion about trading stock options. The truth of the matter is that I have mixed feelings about it. One of the big upsides to trading options is that they can be very cost-efficient and give you massive leveraging power. If you make the right bet, you will potentially be able to buy a stock at a reduced price or sell it at an advanced price, enabling you to generate strong returns.  As a disclaimer, trading options is also very risky. If you make the wrong bet, you can potentially lose your entire investment — and a whole lot more.  Young investors often make the mistake of putting their money into options instead of stable securities that they like and believe will generate strong long-term revenue and recurring dividend payments.  Even though options trading is very popular right now, most financial experts tend to agree that these trades are more trouble than they are worth — especially for beginners with limited data, experience, and insights.  That said, trading options is ultimately your call. With the right approach, you might even do very well. Just know that this is a high-risk, high-reward endeavor.  Webull: An overview  Now that you have a basic understanding of how options work, let’s take a closer look at Webull — a modern trading app for Apple, Android, and web browsers.  You can use Webull for trading stocks, options, ETFs, and cryptocurrencies — all without having to pay any commissions. The company offers a few different account types. For example, you can open a retirement account and start a traditional IRA, a Roth IRA, or a rollover IRA. You can also open an individual taxable brokerage account and sell individual securities and assets.  As a trader on the Webull app, you receive access to in-depth analysis tools like advanced charts and technical indicators to understand trends and discover new opportunities.  Webull also comes with 24/7 support and provides full extended hours trading that enables you to buy and sell stocks when the market is closed. Add it all up, and there’s a lot to like about Webull. It’s also highly rated in the App Store (4.7-stars), and the Google Play Store (4.4 stars). We also ranked the app highly in our Webull review. WeBull Webull has built lots of momentum lately due to its zero-commission structure, fractional shares, attractive sign-up incentives, robust trading tools, and sleek user-friendly design. Start Investing with Webull How to trade options on Webull Ready to start? Here’s a step-by-step breakdown of how to start trading options on Webull.  1. Decide if options are right for you I can’t stress this enough: Options aren’t for everyone. And while Webull does a great job of facilitating options trades, you should still be careful.  Think of it this way: You can walk into a store and buy fireworks, but that doesn’t necessarily mean it’s a smart idea. You could get still get hurt — even if you know what you’re doing.  For this reason, the first thing you should do is make sure options are a good fit for your current needs. It’s a good idea to assess your risk tolerance and make sure that you are in a position to invest in options. Think about what the worst-case scenario looks like, and ask yourself whether you’d be able to deal with it. Another thing to factor in is time. Trading options requires a bit more time and attention than stocks. For example, you need to analyze which direction the underlying stock is likely to move and how much it will change from its current price.  In addition, you have to try and predict how much time it will take the stock to move. There are several other factors to consider, and strategies to try, which I’ll explain further below.  If you are someone who invests passively and doesn’t put a lot of time or attention into trading, you should probably steer clear of trading options. 2. Open a Webull account If you feel like you’re in a good place to start trading options, then it’s time to open up a Webull account. You need to be at least 18 years old and have a valid U.S. address, Social Security number, and government ID. The signup process takes just a few minutes.  Once you’re up and running, Webull randomly selects one full share of stock and gives it to you for free. How cool is that?  3. Fund your account The next step is to link your bank account and add funds, which is necessary for making trades. In order to do this, you’ll have to provide your bank account and routing number. Be patient: The process generally takes a few days.  Once you link your bank account, Webull will transfer a second free stock into your account.  4. Request approval  Brokers like Webull can’t legally allow options trading without vetting their users first. This is due primarily to the heightened risk that comes with trading options. Some people complain about this,

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