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Aug 132020

5 Ways To Be Successful in Life

By |August 13th, 2020|Personal Finance Tips|0 Comments

If someone wrote a manual on how to live life and succeed, and it actually transformed how people live and make decisions, that writer would be a billionaire and everyone would be happy. However, that’s not likely to happen because there is one thing inherent to every person on earth, and that is they are all unique with different backgrounds, beliefs and strengths.

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Aug 112020

3 Thing You Should Never Buy From Dollar Stores

By |August 11th, 2020|Economics / Politics, Life, Personal Finance Tips|0 Comments

The problem with dollar stores, besides the cheap merchandise and food that is days or years off their freshness dates, is they allow people to assume bargains are aplenty instead of comparison shopping.

The managers behind dollar stores know you will assume their products are a bargain.

Or, they know you will conveniently shop there so you don’t have to comparison shop elsewhere for basics.

Please don’t buy food in dollar stores. It probably isn’t fresh or was sourced from wholesalers who couldn’t sell to supermarkets. You will probably find better food cheaper in the supermarket too.

You’ll probably find freezers and mini-aisles with food there. Its not the same thing.

Most of the products sold in dollar stores are cheap and overpriced or shoddily manufactured. You’re just throwing away money when you can buy better and cheaper products elsewhere.

Here are 3 examples.

Chewing Gum

You are literally getting nickeled and dimed when you buy dollar store gum. Over months and years, you are going to overpay by tens or hundreds of dollars on chewing gum and never realize it.

A $1 pack of gum with 4-packs, 5-sticks each, is basically 25 cents per pack. Or, 4 cents per stick of gum.

The retail price for a 5-stick pack of Wrigley Doublemint gum is 35 cents, or 7 cents per stick.

Sounds like a steal, right? (If we count the dollar store stealing form YOU, then yes.)

The problem with the dollar store is that people don’t comparison shop and just assume they are getting a deal.

Just go to Amazon or a bulk store. Amazon sells a 40-pack of Doublemint, exactly 200 pieces, for $7.48. That rounds out to 4 cents per stick.

That $1 gum pack with 20-pieces adds up to $10 for 200 pieces over 10 purchases. So, you’ve overpaid by $2.52.

If you buy $1 gum every every other day, that is going to add up to a lot of wasted money over a few years.

Grooming Products

Buy your shampoo, conditioners, and lotion at the supermarket, online, or in bulk stores.

You will find they are of higher quality than such products found at the dollar store. They will probably be cheaper too.

You will find grooming products in “travel,” and, “fun,” sizes repackaged into discount packs in dollar stores. These discounts packs are marked up to optimize profit and make you pay more for less relatively by volume.

Most of the grooming products in dollar stores are not allergy tested. They may also contain chemicals not FDA approved that could be rough on your hair and skin.

Batteries

Every time you buy $1 or $2 batteries at the dollar store, you are being ripped off on quality.

Dollar stores batteries feature off-brand names for a reason. Most brand name batteries, like Duracell or Energizer, are alkaline batteries.

Alkaline batteries are quality made and provide energy for long periods of time.

Dollar store batteries are made from carbon-zinc. Carbon-zinc batteries are cheaply made and are prone to leaking and exploding.

Carbon-zinc batteries are suitable for low drain devices like remotes or clock radios. If you use carbon-zinc batteries for high energy drain devices, then you will need to buy more of them more often.  Its easier to literally burn money instead.

Instead, start buying rechargeable batteries.

You can probably buy stationary, writing and back-to-school supplies, and towels for a bargain at the dollar store.

Still, you may even find those items even cheaper elsewhere.

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Aug 112020

Things you need to know about gut feelings in trading 

By |August 11th, 2020|Personal Finance Tips|0 Comments

How many times have you had the feeling that something might not be right to plan at this moment although there was no visible evidence? All the trends were in your favor and the volatility was prominent, implying it was the perfect time to place an order. Still, this unexplainable doubt existed in mind and eventually you took the decision. This experience is known as following a ‘gut feeling’ and only experts have this wisdom. After years of trading, people begin to realize what is good for them without even analyzing the chart. Don’t think it comes with time as traders need to display dedication, persistence, and consistency in their performance. Many investors lose valuable deposits due only to second-guessing their decisions. Despite having arrived at their decision after vigorous analyses, they have this small confusion whether this will work out expectedly.  (more…)

Aug 102020

Essential Aspects to help you Choose the Best Offshore Jurisdiction for your Business 

By |August 10th, 2020|Personal Finance Tips|0 Comments

Are you contemplating establishing an Offshore Company? Rest assured it would be dependent on the information you gather, the people you talk to, and your beliefs that would determine the financial future of your business.  (more…)

Aug 102020

Getting through financially tough times after an accident

By |August 10th, 2020|Personal Finance Tips|0 Comments

If you are unlucky enough to be hurt after an accident you are going to find things hard. Not only will you need to recover physically you are also highly likely to suffer financially. It is usually not possible to continue to work as you did before your accident. At least, not initially.  (more…)

Aug 72020

Investing for Beginners: How Do I Get Started?

By |August 7th, 2020|Personal Finance Tips|0 Comments

Many people believe investing is for those who have a lot of extra cash and a lot of free time on their hands. But that’s not the case. If you’re able to cover your basic living expenses and have enough money set aside in your emergency fund, you have enough cash to consider dipping your toes in the investment pool.

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