People for some reason decide to spend money when they don’t have any need for useless frivolous crap that serves them or their family no good. It’s pathetic to see those who have no money on Black Friday buying a flat screen T.V. when they know that they may or may not get a job anytime soon. Not to brag but I have a fairly secure source of income, I spend money when I know that I can otherwise I keep it locked away. It seems that people have no idea how to invest money into things that can benefit either their business or themselves.
A good example of a good investment during these horrible times is FASTSIGNS. Statistics have shown time and time again that people are most likely to find your store through a sign or by word of mouth. Because of this statistic it is obvious that if you own a failing business you need to change your business practices or it may be that your sign isn’t attracting enough business. For this reason many companies decide to use the store called FASTSIGNS to make and purchase their signs.
FASTSIGNS makes great signs that will last your business for a very long time as opposed to the mediocre signs that end up failing days after the warranty for the sign expire. One must realize that some businesses integrate a failing product into their business plan, not FASTSIGNS. Check out FASTSIGNS for some great looking signs that will draw in business, stop using sings that fail.
Money market accounts are just like saving accounts except that they are not FDIC insured (most of the time). The benefit of money market accounts as opposed to regular savings accounts is that they can make you a bit more money with not a lot of risk. Now the amount of money that you will make is minimal but every penny counts. I for one have a Paypal Money market account and that seems to work very well for me although I keep a very little amount of money within it. I recommend money market accounts only if you are able to take some risk, otherwise I recommend going with a strong bank with a good history like FNBO or ING bank.
Some people have been talking about buying stocks now. Warren Buffet has said “it’s the time to be greedy”, and many certified financial planners are telling clients to get into the stock market. I for one disagree with that because I feel that things are only going to get worse before they get better. In addition with our unertain markets anything can happen whether it’s the dollar hitting a all time low or the house reports coming out saying that we are once again spending less thus lowering our GDP. Of course who am I to give my financial advice? I have only had a ever increasing networth since I was in the second grade.
People often complain about the horrible interest that they get at regular brick and mortar bank accounts but they never seem to think about their low balance in their savings account. Regardless of the interest that you earn, you won’t “earn” anything unless you plan to actually have some money in the account. I currently earn 3.25% at FNBO Direct but I have over six thousand dollars in there that let me earn interest. In addition I’m constantly adding money to the account as it comes in, so let this be a lesson to everyone, save. Saving accounts are great, but look for them online and make sure that they are FDIC insured.
