The risks involved in investing money can be quite similar to those taken by high stakes poker players. The idea is basically the same. Money is put up on the hope that it will be increased with the winning hand. Strategic play is equally important, as knowing which odds to play and which bets to leave alone are crucial factors that affect the success of investors and poker players alike.

Personality and playing style figure into the equation as well. For example, true championship poker winners have a cool and collected demeanor and seldom behave in a cocky or brash manor at the tables where they play. Perhaps their calm comes from knowing that they only play the funds that they can afford to lose. Gambling away the house payment on the odd chance that they might double or triple it is a game played by those less successful and often in distress. While those that are playing under such stress tend to look at their winnings and losses by the hand or by the hourly results, winning players look at long-range win/loss statistics as part of a bigger picture.  This is the same principle that can be applied to the behavior of winning investors.

Wasting money on bad bets, those that may be too expensive, or are far too risky just to make a quick buck is not characteristic of the world’s champion investors. Winning investors tend to share common traits and behaviors. They study their fields of play until there is a good sense of what may be a winner and what investments to avoid. They are well aware of the potential ROI, or return on investment, that could come from putting money on a particular stock or in a volatile market. Their investment habits generally mirror the ability to lose what they’ve put into a bet. They pay close attention to the other players, avoiding the temptation to let them know their hands or strategies. Winners don’t show their hands in either investing or gambling games.

For this reason, great poker players and successful investors alike share the flexibility to break out of the conservative mold now and then, perhaps risking more than usual on a ‘long shot’ that could result in quite a win if all works out well. Aggressive play provides a burst of adrenalin that cannot be matched. Aggressive and risky play should be reserved for those times that are well earned through attentive study and never when the player cannot afford to lose the amount that is played. Going ‘all in’ on a great paying bet can be exhilarating, but will be much more satisfying when a loss won’t put the player in dire straits.

Learning to invest wisely and successfully can be enhanced with the study of poker and its nuances. At a site known as playpokerfree.com, users can see examples of strategy and learn the rules of the game. Play for free and practice using the attributes of winning poker champs and investors. Pay close attention to what others at the table are doing, holding, and how they are betting.

You say you know where your money goes and you don’t need it all written down to keep up with it? I issue you this challenge. Keep track of every penny you spend for one month and I do mean every penny.

You will be shocked at what the itty-bitty expenses add up to. Take the total you spent on just one unnecessary item for the month, multiply it by 12 for months in a year and multiply the result by 5 to represent 5 years.

That is how much you could have saved AND drawn interest on in just five years. That, my friend, is the very reason all of us need a budget.

If we can get control of the small expenses that really don’t matter to the overall scheme of our lives, we can enjoy financial success.

The little things really do count. Cutting what you spend on lunch from five dollars a day to three dollars a day on every work day in a five day work week saves $10 a week… $40 a month… $480 a year… $2400 in five years….plus interest.

See what I mean… it really IS the little things and you still eat lunch everyday AND that was only one place to save money in your daily living without doing without one thing you really need. There are a lot of places to cut expenses if you look for them.

Set some specific long term and short term goals. There are no wrong answers here. If it’s important to you, then it’s important period.

If you want to be able to make a down payment on a house, start a college fund for your kids, buy a sports car, take a vacation to Aruba… anything… then that is your goal and your reason to get a handle on your financial situation now.

Here’s a Free Report About Budgeting.

Investing your hard-earned money for the best returns can be a tricky business, with traditional savings accounts simply not offering a high enough yield to build your savings balance. In fact, when inflation is taken into account, savers may be losing money over the long term. What most investors’ want is an account that pays a higher rate while still offering them easy access to their cash.

A money market account can be a good choice. Money market accounts are not the same as a money market mutual fund. A money market account is offered through your bank or credit union, while an investment broker offers a money market mutual fund.

The FDIC offers insurance to participating banks, protecting your money from bank failures. It protects your money, up to $250,000 per depositor, at each banking institution. The FDIC does not cover investments in money market mutual funds through an investment broker. A money market account with your bank is a type of savings account that pays interest at a higher rate than on a basic savings account, and comes with some restrictions – a higher minimum balance and limits on the number of withdrawals you can make per month.

Using a money market account can help maximize your finances in several ways. The most obvious, of course, is the higher interest rate. It is essential to shop around to find the best money market rates. Ensure that you examine the fine print for the terms and conditions that best fit your needs.

Casual savers that need easy access to their cash might be better off with a traditional savings account. The money markets are better suited to disciplined savers who are looking for a higher return on their money. The ability to add and withdraw funds regularly, combined with the higher interest rate, makes a money market account an attractive option.

Using a money market account can be a great way to build your portfolio without the risk of investing in the unpredictable stock market. Rather than having lump sums of money sitting idly in a traditional savings account, a money market account allows you to grow your balance while keeping your money safely tucked away in the bank. Since they typically require a larger minimum deposit, money market accounts encourage raising your savings habits to a whole new level.

Money markets can be more convenient to use than traditional savings accounts, as some offer an ATM card and even checks. A savvy saver who doesn’t write many checks every month might even consider switching their checking account to a money market account, or consider opening a money market account with a lump sum that would otherwise sit idle in a low-interest checking or savings account. It is important to set savings goals and create specific milestones. By breaking down a large goal, such saving for a down payment on a house, into smaller milestones, it becomes easier to reach. A money market account is a solid tool for savers who want to build their long-term financial foundation on the security of slow, steady growth.

Using an umbrella company is a convenient way for contractors to receive payments from the agency they are working for without having to set up as a limited company. It means that they are not actually an employee of the agency, nor are they an employee of the umbrella company, but the system treats them as an employed person with the umbrella company dealing with PAYE tax matters and national insurance contributions.

The contractor will not receive benefits such as holiday pay, sick pay or maternity/paternity payments for the agency which means the agency will be able to offer them a higher rate of pay. Choosing to use an umbrella company does not affect the contractor’s statutory rights in any way and can be the ideal solution for those who are just starting out running their own business.

By using an umbrella company, rather than the contractor setting up as a limited company, means that there will be money saved, plus a saving in administration time and hassle. The costly and time consuming process of setting up a limited company for a job that will last less than 24 months is not really cost effective, as at the end of the contract there may be the need to dissolve the limited company at more expense. If a contractor is working for longer than 24 months on the same contract they are then classed as having a permanent place of employment meaning that travel expenses and subsistence expenses cannot be reclaimed.

Umbrella companies can save a great deal of time for a self-employed person. The contractor simply submits their timesheet to the umbrella company who will in turn request payment from the agency. Once the agency has paid the umbrella company will issue payment to the contractor. The only downside to this simple process is that the contractor is not guaranteed payment on a certain day, although some companies are able to offer a guarantee of payment.

For a contractor who is new to the world of freelance work using an umbrella company could be the ideal solution. There is no guarantee that any new business is going to take off and succeed; it is even harder for a self-employed individual to get work. By starting out with an umbrella company handling all the administration paperwork regarding taxes, it leaves the contractor time to advertise and secure more work, more contracts and hopefully build up their business. A contractor who has the time to properly market their skills is more likely to succeed than one that is bogged down with paperwork that can cause unnecessary stress and anxiety, due to a lack of the necessary skills and detailed knowledge.

The umbrella company allows the contractor the freedom to be independent but with the added security of benefits that would normally be enjoyed by an employee, including no tax or insurance paperwork. The umbrella company does not find the contractor work so the contractor has the flexibility to pick and choose between contracts to suit them, hours of work and locations of jobs.  The umbrella company will deal with tax payments and allowances, national insurance contributions and the administration of paperwork, while ensuring the contractor gets paid for each timesheet that is submitted.

Attending college is not just an excellent investment in your financial future.  It also carries with it intangible benefits, helping young adults to build self-confidence and develop key relationships as they adjust to the adult world.

It may be true that the ‘best things in life are free’, but it is also true that some of the very best things cost money.  Arranging funding for further education can involve a variety of financial resources, including savings, a part-time job while attending, scholarships, grants and college loans.  Students who choose to take out loans to pay for college will find that the higher-paying job they obtain later makes it quite feasible to accrue debt in the short term.

How students manage their money during their college years, however, will have a large impact on their future lives.  It is possible to graduate from college with a manageable debt load that can be discharged fairly quickly.  It is also possible for students to mismanage their loans to the extent that it becomes virtually impossible to repay them.  This is a serious issue because unlike a car or house loan, most student debt cannot be cancelled via bankruptcy proceedings.

Financial Advice for Student Borrowers

The most powerful thing a student borrower can do is minimize the total amount of college loans taken out.  This requires discipline and determination.  Students who receive loan funding may feel quite comfortable that they have ‘enough’ to afford a new stereo or some other discretionary purchase.  All too often, these students have woefully underestimated the true cost of attending college.

Costs to keep in mind include not just tuition and dorm fees, but also a litany of smaller-ticket items that, taken together, add up to a great deal of money.  Books alone can cost hundreds of dollars – sometimes for a single class.  Many students also neglect to set aside money for commuting expenses if they do not live on campus.  Keep college loan money strictly set aside for educational expenses.

Saving Money

Every dollar that can be saved and put towards your education is a dollar you will not have to borrow.  With this in mind, savvy students use a variety of strategies to lower the cost of daily living.  For example, keeping a box of snack bars in the dorm can mean going to a reduced meal plan that does not include breakfast.  Those on a budget should also watch their entertainment spending.  A DVD rental from a dispensing machine costs very little compared to purchasing a movie, and students who do not use all of their cell phone minutes for necessary calls should consider moving to a lower-priced package.

Choosing a Student Account

Another way to save money is to select a bank account designed for students.  Many of these have reduced fees on such items as making ATM withdrawals and writing checks.  Some student accounts even offer fee-free savings and checking.

With planning and forethought, students who desire further education can afford to attend their college of choice.  It may mean taking out college loans, but the rewards in the end will far outweigh the need for careful money management while attending an institution of higher learning.

Guest Post by Jessica Bennet

A mortgage calculator is that financial tool that helps you in determining the affordability as it calculates the monthly payments. The mortgage calculator provides you with all of the details on the mortgage like the monthly payments against the mortgage, the interest rate payments, and the time which will be taken to pay off the home loan, the exact date when the loan will be paid off and so on. Because the mortgage calculator helps you to find out the affordability based on which you will be able to take out a mortgage, it naturally gets easier for you to choose the right kind of home for yourself. There are different types of mortgage calculators which are available online.

Importance of using mortgage calculator

There are various factors that influence your mortgage payments. All of these factors are your affordability and income, the interest rate on your mortgage, the loan term, the debt to income ratio, the mortgage APR. So, the mortgage calculator helps you in using all of the items that affects the mortgage and therefore helps you in finding out the details of your payments. Thus, you are able to decide beforehand if you should at all take out a mortgage and if so which would be the best mortgage for you.

Different types of mortgage calculators

There are different types of mortgage calculators and some of these are:

1. Cost calculator – The cost calculator is that type of mortgage calculator that helps you in finding out or in calculating the entire cost of taking out a mortgage and thus the costs of buying your home.

2. Monthly payment calculator – With the help of a monthly payment calculator you will have the opportunity to calculate the mortgage payments which you will be required to make each month as installments against the mortgage. If you use this mortgage calculator you will be able to know in advance the amount which you will be required to pay.

3. Repayment calculator – If you use a repayment calculator, you will be able to determine the repayment amount on a mortgage and the other payment details as per the changes of the repayment term.

4. Interest only mortgage calculator– As there are different kinds of mortgage, there are different types of mortgage calculators too. Sometime you can have the option to take out a mortgage which will require you to make payments on an initial basis only on the interest for a certain period. Now, it becomes important for you to calculate the interest payment and the interest only mortgage calculator is the one that helps you in finding out the payment details of the interest only mortgage.

5. Adjustable rate mortgage calculator – There are mortgages on which the interest rates are not fixed, the interest rate adjusts or changes from time to time. So, if you use the adjustable rate mortgage calculator, you will have the opportunity to calculate the amount that you will be required pay towards the adjustable rate mortgage.

Then there is also the amortization calculator which helps you in understanding how your payments results in amortization of the mortgage. With this kind of calculator, you will easily be able to know in which way the monthly payments help in the reduction of the term of your home loan. This calculator also helps you in understanding the details of how the monthly payments are divided as the payments towards the principal and payments towards the interest. If you can have the clear idea on how the payments amortize the loan, you will be able to adjust the payments in that way to pay off the loan fast enough. If you increase your monthly payment you will be able to pay off this home loan much faster.

If you had the power to choose, which one would you grab or would like to have more of? Time or Money? Most people would say Time, and some other people would say Money. Whichever you choose, is a correct answer. There’s nothing right or wrong with your choice.

But if you do look at them closely, which one do you think is the hardest to recover when you’ve lost it? The most intangible one, I would say, is Time. Why is that? Money, when lost, could be recovered. Whether it’s in ones, tens, hundreds, thousands or even millions.

Unfortunately, for time, once it’s lost, it’s gone forever and it’s not coming back. Unless, you have a time machine of your own, lol.

Kidding aside, and going back into our topic, the answer does depend on the person. Some people have lots of time, and need money. These people are common, usually they don’t have jobs. Some people have lots of money, but don’t have time. They are people who are stuck in a job, but don’t have time to spend with their family and friends.

The worst case would be having no time and no money. Hmm, I guess it means that the person is already dead, since everybody has time.

Anyway, the best one to be in is having both, and I know that people would agree that having Time and Money is the best that life could offer. You get to have lots of Time and Money to spend with your family and friends.

How do you even get to have this kind of lifestyle is more and more available and abudant nowadays. It does start with your own mindset. How you think, then follows your actions.

Using Leverage to work for you is a powerful tool. Working 100% of your time compared to 1% of a hundred people is definitely a huge difference. And I mean big.

So the next time you think about it, use time wisely.

Inputting spreadsheet data can be a real headache. Once you get lots of rows and columns going on, it can be difficult to track where you are and what you are supposed to be doing.

Most people know that you can use conditional formatting for aesthetic reasons, but on top of that, there are real usability benefits from using conditional formatting too.

In fact, we can use conditional formatting to direct the user to specific areas of your spreadsheet that they really need to focus on right now.

Working Example

In our example we have a table with a list of contractors, with the following fields:

1. Consultant ID
2. Consultant Name
3. Field of expertise
4. Contract signing date
5. Contract expires on

Imagine we have hundreds of these consultants to keep track of. We want to focus the user’s attention just on contracts that are about to expire (for example in seven days or less).

In addition to contracts that are about to expire, we want to clearly differentiate those that have already expired.

We can use conditional formatting to show the about to expire rows in orange and the already expired in red.

The trick is to use a formula to set the conditional formatting. While the orange “about to expire” is quite complex, the red formula is really easy:

=TODAY()>$G5

If today is greater than the value in $G5 then set the formatting.

To work out if the contract is about to expire is a little more involved.

AND(TODAY()<=$G5,DATE(YEAR(TODAY()),MONTH(TODAY()),DAY(TODAY())+7)>$G5)

It actually looks more complicated than it is simply because we have to generate a date seven days in the future using the DATE function:

DATE(YEAR(TODAY()),MONTH(TODAY()),DAY(TODAY())+7)

This returns a correctly formatted date so we can check that today is less than or equal to this future date.

If we set most of the dates far in the future we can see how formatted this way, the rows just jump out at you.

Summary

While we could create complicated macros and data-entry forms, sometimes the simple solution is the best. By highlighting the aspect of the spreadsheet we should spend particular attention on we can cut through the noise inherent in dealing with a lot of data and get the job done fast!

About the author

Yoav Ezer co-authors the technology and productivity blog Codswallop. He is also the CEO of a company that produces PDF to Excel conversion software.

For more Excel tips from Yoav, join him on Facebook or Twitter

Any healthy business will have a customer list. Some companies will use an old fashioned rolodex for this or maybe paper files. Still others will buy off the shelf software all the way up to the mammoth Customer Relationship Management systems.

These systems might be ideal but in many cases they will be overkill if your needs or scale are quite humble. A full system might be more functionality than you need right now, especially if you can count your customers on two hands.

If you are most comfortable in a Microsoft Excel environment you can make a pretty decent little system with your favorite spreadsheet package. A huge advantage of starting out in Excel is you can be pretty sure you can move your data to a new system as and when you are ready to move up to a full industrial strength suite.

Example Customer Database

To demonstrate, let’s put together an example customer database.

In this example we store some pretty simple details. You could add things like what products or services they have bought or when they were last contacted quite simply, but for now we will use it as a simple contact list.

Right now we can use the built-in Excel search feature to find the customer we want, but let’s get fancy.

Creating a Lookup Form

What we want to do is create an enquiry form so we can enter details and have Excel bring up the matching result.

We create a new tab and write out our form to make it look nice and usable.

As you can see in the screen grab above, when we enter a zip code we want all the other fields to populate. This is achievable by using the VLOOKUP function anywhere we want to draw in values from the customer list.

Here is an example:

VLOOKUP($B$3,Customer!$A$2:$F$6,6,FALSE)

This is based on the first value being what we want to find, the range of the source values, and if we want it to be an exact or approximate match (which in Excel means the next largest value that is less than lookup_value is returned, providing the original values are sorted in order).

Extending the Example

Obviously there are limitations to this but it wouldn’t take a lot of effort to enhance the solution. First we could make the search able to switch between which fields we are searching on, for example a logical search field would be surname or company name.

A quick solution to allowing a greater search flexibility would be to add an IF statement to the VLOOKUP. Obviously this would get cumbersome very quickly, but as a quick hack it works.

=IF(ISNA(IF(A3="Enter phone to search",VLOOKUP($B$3,Customer!$A$2:$F$6,6,FALSE),VLOOKUP($B$3,Customer!$B$2:$F$6,5,FALSE))),"",IF(A3="Enter phone to search",VLOOKUP($B$3,Customer!$A$2:$F$6,6,FALSE),VLOOKUP($B$3,Customer!$B$2:$F$6,5,FALSE)))

Basically, this IF function does 2 things, it checks whether to search using the Phone number or the Zip codes and adjusts the VLOOKUP range accordingly (the VLOOKUP function always searches for the value in the first column of the range). It also checks whether the entire VLOOKUP function returns a value at all using the ISNA() function so that a blank would be displayed instead of an error.

The second upgrade we could add is we could store more data. We could create a contact log, any relevant details such as if they have had any feedback or problems, and make notes on sales activity and actual purchases. This would allow us to track the impact of our sales and marketing, plus see who our best customers are. I will leave that an exercise for you!

Summary

I hope, while being only a start, this has given you some ideas for how you can create your own customer relationship database. Do you keep track of customers or any other similar data in Excel? Please let us know…

About the author

Yoav Ezer co-authors the technology and productivity blog Codswallop. He is also the CEO of a company that produces PDF to Excel conversion software.

For more Excel tips from Yoav, join him on Facebook or Twitter

Being an Internet Marketer takes a lot of time to achieve your goal, especially if you’re just starting out and working on your own. Having a team to back you up and support you is the best tool that you could have, and having a stable income that comes with it is even a bonus.

If you are familiar with Traffic Exchanges (TEs) then you would notice that during this time, most affiliate marketers or internet marketers are now joining teams. Let’s face the fact, nobody wants to do it alone. And if a team would be there to do exactly as what you are doing and everybody benefits from everyone’s teamwork, don’t you think that having a team is much better than not having one at all?

So which team should you choose? It really depends on your goals and desires and what are you expecting to have in return. Based on my experience, I’d suggest joining a team that is just starting out, but is also backed by professionals who know what they are doing, plus they are promoting a product that they know will stay for a long time, even for a lifetime. If there’s no product, be careful, it might be a ponzi.

With all this said, joining The L Team is what I strongly recommend. You’ll find out why by joining the team through my personal link: http://www.thelteam.com/1927/

If you have any questions, there’s a forum available for members where you could find your answers or ask new ones to help clarify your doubts.