The Easiest Way to Save Up For Your Annual Vacation

I’m constantly amazed how quickly we’ve replaced spending on things with spending on experiences.

One big reason for this is the rise of Facebook. As we scroll through our feeds, we see friends who have spent time in all sorts of exotic locales. Their pictures are beautiful, always filled with smiles. These same friends gush about their vacations when they get home. “The food was amazing! The scenery was breathtaking! The hotel was phenomenal!”

It’s little wonder people so desperately want to travel the world when they’re up against that. Some of us take it to a new extreme, quitting our jobs to pursue a life of full-time travel, even if it is temporary. Most do things a little more responsibly, choosing instead to contain our travel to a two-week window of allotted vacation time.

Many of us have trouble saving up for a vacation, so we finance it instead. That’s a terrible idea. Even a $1,000 vacation financed at regular credit card rates can cost $1,200…$1,500…or even more before it’s paid off.

That’s not what you want to do.

If you’re having trouble saving up for anything, try this trick.

Brown bag your lunch

It doesn’t seem like a big change, but packing your lunch can add up to some serious savings over the course of a year.

Say you’re currently spending $10 on lunch out every day at work, while you could pack something for $3. That translates into savings of $7 per day, or $35 per week. Based on a 50 week annual schedule, that works out to $1,750 in annual savings.

That might not be enough to finance an entire exotic vacation, but it’s a nice start. It’s definitely enough to pay for a week away that’s a little closer to home.

Even if you just eat in four days a week and go out with your office buddies each Friday, it still adds up to significant savings. You won’t quite end up with $1,750, but you’ll still save $1,400.

The powerful reason why

We’ve all heard about the latte factor, which states that little recurring expenses have a way of really screwing up your budget. The latte factor can mean different things to different people. Some people might drink a lot of alcohol. Some might buy too many clothes. Or some might go out to eat too often.

The solution is usually pretty simple. Figure out what you spend too much money on, and cut it out. Or at least reduce it quite a bit.

There’s a problem with that. Restricting ourselves doesn’t generally work. There’s a reason why we crave whatever our latte is. We enjoy it. If we start telling ourselves we can’t have it, guess what we’re going to want even more?

Brown bagging our lunch is a little different. Yes, you are restricting yourself when you do it. But you’re also giving yourself an opportunity to really think about the benefits of doing so.

If you sit at your desk brooding about how your lunch sucks, this plan has no chance of succeeding. You’ll talk yourself into going back to Wendy’s or Subway in no time.

If you take the opposite approach, it’s got a great chance of succeeding. Thinking about your next vacation while munching on your 132nd consecutive sandwich will make the sacrifice seem worth it. You’re making yourself uncomfortable for a specific reason, not because it’s the right thing to do.

Tricking ourselves 

The average person is terrible with money. They need tricks like this to get them to save.

It’s even valuable for those of us who already save a big portion of our income. Saving 10% is great. Saving 15% is even better, especially when you can do so without changing your life in any big way.

A big part of saving is tricking ourselves. Try it today and see how far it gets you.

How to Choose Your CFD Broker for Online CFD Trading

Have you ever wondered how to choose your broker for online CFD trading? This post covers various types of brokers and vital tips to help you select the right broker.

Online CFD trading offers opportunities galore to make money; however, you need a good broker who can handle the execution of trades in an effective and professional way. Picking the right broker for trading is as important as your greenbacks are and making the right choice can be an uphill task, particularly when the online broker market has become increasingly competitive. Nonetheless, there are differences in terms of cost structures and services rendered and these differences require careful deliberation before making a choice.

Before you get to know how to choose your broker, let’s take a look at the types of CFD providers-

  • Market Makers OR CFD Agents
  • Direct Market Access Providers

Market makers and DMA providers are quite different from each other. They are different in terms of:

  • Asset Index
  • Cost of Trading
  • Order Execution
  • Trading Platforms
  • Company Size

So, what are the crucial factors that you must take into consideration while you choose a broker? Let’s take a quick look:

Online CFD Trading Security of Funds

Ensuring security of your funds is the most essential thing to do before opening an account. How should you go about it? Find out if the CFD broker of your choice is regulated or not. Also, check out the website, testimonials and user reviews. Lastly, make sure that the reviews you are using are reliable before making any decisions.

Broker’s Fee & Commission

Broker’s fees and commissions must be thoroughly read, analyzed and understood before you hire him or her. Broker assisted orders are prone to huge discrepancies in charges. Compare the fee and agreement offered and if you find the fee too good to be true, then you must go through it again. Complex or unusual fee structures often have hidden fees which are sure to consume your profits.

Does Your Broker Understand the Market Well?

It is extremely important for your broker to have a good understanding of the dynamic online CFD trading market. A broker with good technical knowhow and experience not only makes it a cakewalk, but also ensures good returns.

Trading Platforms, Trade Assets & Funds

After you are done with your thorough research and found some good and professional CFD brokers who are regulated, you need to dig for some more information. Find out what assets are available for you to trade on.

Besides, fund methods made available by the broker should be convenient for you too. While you compare various brokers, watch out for the trading platforms they make available for you. While some provide just a web trader platform, others offer Metatrader-4as well.

And Finally, Discounts & Rebates

Determine whether you are going to trade heavily or not. If the answer is yes, you should be looking for a trading rebate plan. These plans make you eligible for receiving cash-back promotions. Rebate, on the other hand refers to making money on the basis of trading volumes.

Before you open an account…

If you are looking for more information on trading pairs or on how online CFD trading works you can ask for more detailed information about CFD trading as well any other concerns or questions before you open your account. Trust and clear communication are important in establishing a good working relationship between client and broker.