Jason Butler, Author at Dinks Finance

About Jason Butler

Jason Butler is an Atlanta native, as well as businessman, blogger and teacher. Not only is Jason a prolific flipper, marketer, writer and side hustler his number of years in higher education and student support have given him expert knowledge in understanding the economics of the student loan industry.

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Tips on Making Money in the Stock Market

Posted on November 9, 2016 - 6:30 am by Jason Butler 2

stock market tips, investment advice, stock market advice

Hello, Dinks. Many people are looking for ways to invest their money. The stock market is always an option. Sadly, a lot of folks don’t know much about it. They are afraid that they will lose money, so they never attempt to learn it. In today’s article, I want to share with you some tips for making money in the stock market. Anyone should be able to benefit from them.

Since purchasing a stock is pretty much like becoming a business owner, you must think like one. Business owners have to make important decisions. They are always concerned about their company’s profits. They also keep track of their financial statements and try to minimize their losses. When it comes to your stocks, you have to be the same way. If not, you’re just wasting your hard earned money.

Investment software will help you out if you are just starting with your investing. It’s best to find out one that will help you manage your money. You can also look for a second software that you can use to track stocks, find prices, company news, and any analysis that you perform. Personal Capital, Wealthfront, and Investment Account are three options that you can choose from.

Having a diversified portfolio is a must have. Putting all of your cash into a single company or industry will leave you vulnerable. You may think you’re playing is safe, but you’re not. It is better to allocate your investments across a range of industries. Doing that will protect your money if an industry experiences huge losses.

You have to learn to keep your emotions in check. Do not let them control your buying and selling decisions. The stock market is not a get rich scheme. There will be ups and downs. While it may be unbearable to watch your stocks soar and plummet, it is important to be patient. You have to make your decisions in a methodical way. Choose investments that align with the level of risk that you are comfortable with. Don’t invest more than you can afford to.

Looking at the commissions is one of the most important things you must do when you’re thinking about which broker to go with. Lower costs equal more earnings. You can never do too much research when it comes to finding the right broker.

Something else that you should do is to go with what you know. For example, if you love computers and technology, it is a good idea to stick with stocks that have to do with computers and technological advances. If you are a sports fans, stick with stocks that provide sports equipment. If you want to purchase other stocks you can research them or discuss it with your broker. In the beginning, I’d make sure to go with what you know.

Think small to grow big. If your aim is to grow money over the years, aim for smaller and medium sized companies that have serious growth potential. A retail chain with a superstore in every neighborhood might be a safe place to park and keep your investments at its current value. In order for it to grow, the growth would have to outmatch a Fortune 500 company. A small business can double in its size and still have plenty of potential markets.

You are now ready to start investing. Weigh your investment options, watch the markets and stay on top of all the info that is available. Good luck.

Household Budgeting Basics

Posted on November 7, 2016 - 6:30 am by Jason Butler

budgeting basics, budgeting techniques, budgeting tips

A lot of people struggle with money. They spend just as much as they bring n. They think that they are living check to check when they actually aren’t. They just lack discipline. Those folks have a spending problem. Creating a household budget will help them conquer those money issues. They will know how much money is coming in and how much is going out. Here are some household budgeting basics to help you get started.

You can use a spreadsheet to include all of your information. It should have your income, housing, utilities, consumer debt, food & groceries, savings, and entertainment.

Income

Income is the first thing that should be on your spreadsheet. You want to include everything you make such as paychecks, side hustle income, bonuses, and other forms of money that you will receive.

Housing

If you still live at home with your parents and don’t have to pay anything, you’re lucky. For the rest of us, we have to set something aside for our housing costs. The housing category should include your rent or your mortgage payment as well as renters or homeowners insurance. You should also include something for repairs if you are a homeowner.

Utilities

Utilities are the next item on the budget. It should include electricity, water, heating and air, cable, the internet, cell phone and sewage. Some of those utilities may be included in your rent, so that is one less expense that you have to worry about.

Consumer Debt

Hopefully, most of y’all don’t have to list this one. Unfortunately, I do. Consumer debt is something that I have too much of. I blame my early-mid 20’s for most of it. This category includes student loan bills, credit card bills, car payments, and installment loans. I can’t wait until I’m able to delete this category from my budget.

Food & Groceries

We all need food to survive. You always want to make sure that you get a good deal when it comes to buying food. You should make sure that you budget enough money for this category. It’s easy to go overboard with this one. Pay close attention to it.

Savings

The next category is savings. You can break this one down into several categories if you choose to, but today I’ll keep it as one thing. Included in this category is saving for an emergency, saving for health care, saving for maintenance and saving for a vacation. Planning for this stuff will help you out a lot in the long run. It’s better to be safe than sorry.

Entertainment

Entertainment is the final category. After you’ve added your money to the other categories, you should save something for entertainment. Whether you like sports, watching movies, or going to plays, you need to have some money set aside for it.

Creating a budget will help you spend your money wiser. If you set your budget up correctly, you won’t feel like you’re living check to check anymore, because you’re not. You know exactly where your money is going each month.

Easy Way to Track Goals

Posted on November 4, 2016 - 6:30 am by Jason Butler 4

ways to track goals, tracking goals tips, track goals advice

Keeping track of your financial goals is vital. If you’re like me, you have a few goals that you want to reach at the beginning of the year. During the year you may forget some of them or even worse just give up on them altogether. There are a few ways that you can keep track of them. One easy way to track your goals is to use a goals worksheet.

Why would you want to use goals worksheet?

There are several reasons where using a goals worksheet will come in handy. If you want to blow your goals out the water in the future, you definitely need to look into a goal worksheet. Keep reading to find out why!

List your goals

The first reason why it is important to use a goals worksheet is that it’s a place where you can list all of your goals. Instead of just writing your goals on random sheets of paper, your goals worksheet is the best place for them. You can create your own worksheet and print it out. You can also find one online. A quick google search will show you plenty of them. Once you find one you should list all of your goals on it.

Easily accessible

Your goal worksheet should be easily accessible. If you’re serious about your goals, you will want to review them several times each month. Doing that will keep them fresh in your mind. Hopefully, you will be able to accomplish the goals quicker. My goals worksheet is on my wall. I look at them every day. It’s a constant reminder that I need to stay focused.

Make updates

With a goal worksheet, you should be able to male updates on your goals periodically. If you complete something on your list, you can highlight it or put a check on it. If you are having a particular problem with a goal, you can write notes on your worksheet. Jotting down updates for your goals are very important. It’s another way to keep you motivated.

When creating or looking for a goals worksheet, make sure that your worksheet has these sections in it. It should include why the goal is important to you, what type of steps do you plan on doing to achieve it, and a deadline for your goals. Those sections on the worksheet will help you stay focused. That way you will be able to pay attention to each goal and get them done quicker.

If you seriously want to track your goals, a goals worksheet is just what you need. It allows you to list them all in one place. The worksheet is easily accessible. You can print it out or save it to Google Drive. You can make updates to it if your goal changes. Many people have goals at the beginning of the year. Not everyone completes them. Are you a person that finishes your goals each year or do you procrastinate and wait until next year?

Tips On How To Use Your 1st Credit Card

Posted on November 2, 2016 - 6:30 am by Jason Butler

credit card tips, using a credit card, credit card advice

What’s going on Dinks? Do you remember your first credit card? I remember mine vividly. I opened it up at Bank of America 10 years ago. I’ve seen the limit start out at $1000 then balloon to $4000. Unfortunately, I’ve maxed that card out a few times. There’s so much I wish I would have known about credit cards when I first opened that one. I’m glad I finally got my act together. That credit card will be paid off by the end of this month. If I knew back then what I know now about credit cards, it would have been paid off years ago. Today, I want to go over some tips that you can use if you are a first-time credit card user.

Don’t max out the card

I know most people review their credit card limit when they first get it. While you may have no intention of spending near the limit, it can happen. It’s not good to keep a high balance on your credit card. I learned that the hard way. At one point my credit card was maxed out. My credit score wasn’t good at all at this time. It took a few years, but I got my act together and started paying the balance down.

Know your payment date

The next tip is to know your payment due date. You should pay your credit card bill on time. Late payments can have several adverse effects. The first effect is that late payments will lower your credit score. Payment history accounts for at least 35% of you credit score. Paying late can make it drop pretty quickly. Late payments may also result in an interest rate increase. I’m not sure how much the rate will go up, but be prepared for an increase. You will also be charged a late fee for your late payment. The fee can range from $20 – $35. Who wants to pay even more money to their credit card company?

Pay it off monthly

Another good tip is to pay off your credit card balance each month. If you do that, you will save money on interest each month. Doing that will eliminate the chance of you getting into credit card debt. I wish I would have been smart enough to pay my credit card off each month back then. If you have the opportunity to pay it off each month, do it. Your future self will thank you for being smart.

Don’t go swipe crazy

Don’t go crazy swiping your credit. With this being your first credit card, you may want to buy a lot of stuff. Don’t do it. You will eventually have to pay credit card balance off. Many people go on a spending spree when they get that first credit card. Don’t make that common mistake. If you can’t afford to go on a spending spree without the credit card, don’t do it with it either. You will be setting yourself up for failure.

Watch out for your limit being raised

The final tip is to watch out for your limit being raised. I can remember my limit going from $1000 to $2000, then to $4000. Instead of being wise and asking the bank to lower it, I kept the higher limit. I figured that I wouldn’t spend up to that amount. Who was I kidding? I maxed that card out a few months later. As I stated earlier, I’m glad that I finally got the spending under control.

The Effects of Having Dual Incomes

Posted on October 31, 2016 - 6:30 am by Jason Butler 1

effects of dual income, dual income talk, having dual income perks

What’s going on Dinks? Since most of you reading this are DINKS, then you should enjoy this article a lot. For people that aren’t DINKS, hopefully, this article will keep you motivated until you get there. Today, I will be discussing the effects of couples having dual incomes. Having dual incomes is great if you and your significant other are good with money. A lot of nice things can and will happen if you are on the same page.

Multiple Streams

The first thing that having dual incomes does is provide you with multiple streams of income. Having money coming in from more than one place feels good. As couples, it will help ease the burden on bills amongst other things. I’ve read that a lot of relationships end over money issues. Hopefully, having dual incomes will help you dodge that bullet.

Pay off Debt Quicker

Having dual incomes will help you pay off debt quicker. Debt is something that many of us struggle to pay off. Some people can only make the minimum payments, while others don’t make enough money to add anything extra to it. This is one significant way where dual incomes. One of your checks could be used for the rent/mortgage and utilities. The other check could be used for credit card debt or student loans. Doing this will eliminate your debt much faster.

Save More

With dual incomes, you should be able to save more money. If you’re in a situation where you don’t have any debt, your wife or husband’s check can go straight to the savings account. Depending on your income, you could have enough money saved to last you for 6-8 months in no time. A lot of single people (including myself) struggle with the amount of money that we can save. Having dual incomes can help with that situation.

Invest More

Besides saving more money, having dual incomes allows you to invest more. Since you have more money coming in, you can risk a little more than if you only had one income. Since you can invest more, the opportunity to get higher returns is there. Stocks, bonds, mutual funds and real estate are a few things that you invest more of your money into.

Peace of Mind

Having dual incomes can help you have a peace of mind. Some people let money or the lack thereof stress them out. Heck, I’ve been there before. For most of us, having dual incomes would give them a peace of mind. They know that they would have enough to pay the bill and also enough just in case an emergency happens.

In summary, the effects of having dual incomes allow you to have multiple streams of income, the ability to pay off debt quicker, to save more money, allow you to invest more and it gives you a peace of mind. It looks like dual incomes are the way to go.

For more about DINKS, and what to do if the unexpected comes along read these great articles.

When Your Dual Income is Cut in Half
4 Ways to Supplement Your Income
Are Dinks saving or spending? Take a guess.

What else can dual incomes do for people?

Fall Date Ideas

Posted on October 28, 2016 - 6:30 am by Jason Butler

date ideas, fall date, going on fall dates

It’s been fall for over a month now, but temperatures are just now starting to feel like, especially if you live in the south. This has been one of the hottest Octobers on record in my area. Now that it’s cooling down, what better time for you and your significant other to go on a date. I’ve done posts on spring and summer date ideas in the past. I figured that the time was right to do a fall date idea post. Keep reading to find out the suggestions.

Haunted House

If you and your mate are into scary things, a haunted house is the way to go. There are usually several types of haunted houses for you to choose from. Check online or in your local newspaper to figure out when they open.

Fall Photo Shoot

A fall photo shoot is a pretty cool date idea. With the leaves changing, it’s a perfect time to go outside and take some great pictures. All you need is a camera and you’re ready to go.

Pumpkin Patch

The next idea is going to a pumpkin patch. Fall is when pumpkins harvest so that’s why you see a harvest of them. Visit a pumpkin patch and grab a few of them and spend a few hours carving them. After you do that, you can roast the seeds as a nice and healthy snack.

Hayride

The next thing on the list is to go for a hayride. What is a hayride? A hayride is when you ride in a truck or wagon pulled by a tractor that is loaded with hay for comfortable seating. I’m not sure how feasible for it is for you to find a place that offers hayrides if you live in a big city. Hayrides are typically very inexpensive.

Football Game

Attending a football game is another great option. If you live near an NFL team, you have at least 8 game dates that you can choose from. If NFL tickets are a little too expensive for you, you can check out your local college or high school football games. In most cases, those options are significantly cheaper.

Tailgate

If you don’t feel like going to the football game, you can always go to the tailgate. Tailgating is very fun. People have food, drinks, TVs and music out there. Some people even have their own DJ’s out there. I’ve been tailgating many times. It is always fun.

Fall Fair

Fairs are always fun to attend. A fall fair is something that you all should try to visit. The cooler weather makes it perfect for you to be outside. There are several attractions and games to play at the fair. Something else that is good about the fair is the food. You can share curly fries, cotton candy, deep fried anything, and those enormous turkey legs with each other. I’m getting hungry just thinking about the fair food.

Brewery

Going to a brewery for a date can be good fun during any time of the year. During the fall, you can taste some of the fall brew flavors. Sam Adams have several types of seasonal brews such as Oktoberfest and 20 pounds of pumpkin. Speaking of Oktoberfest, let’s continue on to the next idea.

Oktoberfest

Several cities have events similar to Oktoberfest, which is a huge beer festival that is held in Germany each year. If you like beer and fun, this is the perfect date for you. Check the events section of your cities online newspaper to see if they have an Oktoberfest.

Easy Credit Repair Tips

Posted on October 26, 2016 - 6:30 am by Jason Butler

credit repair advice, easy credit repair, credit repair tips

Good morning Dinks! I hope all is well with you. Being creditworthy is something that many of us strive for. Some people are taught the basics of credit at an early age while others learn them a little later in life. Unfortunately, I was one of those who learned about credit in my mid 20’s, after I had made a few mistakes. Thankfully, I learned some tips and applied them to myself. My credit is much better than it was two years ago. I want to go over a few credit repair tips today. The tips don’t call for you to pay someone for help. You can do them right at home for free,

Get copies of your credit report

The first thing that you need to do is get a copy of your credit reports. There are three credit reporting agencies. You can get one report, or you can get all three of them. My suggestion would be to get a copy from all three of them. When you get your reports, look at them very carefully. Take note of any mistakes that you might see. You might be surprised at the amount of wrong info that could be on your report. If you find any errors, contact the credit companies as soon as possible. They have 30 days to fix them. Make sure that you send any info that you have that will prove that the item in question is a mistake. Copies of bills paid in full or copies of receipts are examples of things that you can send in. Your credit score can increase by a lot of points if that error is updated. You will be able to qualify for more credit, and you will have lower interest rates. If you have any mistakes, make sure that you get them fixed today.

Pay bills on time

This next step should be common sense, but common sense isn’t common anymore. Make sure that you pay your bills on time every month. Sometimes things happen that will throw you off. You could lose your job, or you could have an emergency. You should have an emergency fund in place just in case something happens. If you still find yourself in a situation where you are not able to pay the bills on time each month, you will need to do one of three things. You can find a way to make more money, decrease your monthly bills or talk to your creditors to see if they will lower your payments or interest rate so that you can pay your bills.

In some cases, your creditors will agree to lower your interest rates. It’s a case by case scenario, though. In the short term, your credit may still go down, but in the long run, it may make easier for you to get back on track and get things paid off more quickly. The main thing here is that you don’t want just to ignore your bills. Doing that will set you back for years.

It may seem like you could have bad credit forever, but it doesn’t have to be that way. You can get your credit up to par by doing these few tips. You just have to take charge and make the decision to do it. Start right now. Having better credit depends on it. If you still feel lost and helpless, you can find a credit counselor to help you out. Regardless, the sooner you decide to change, the sooner you’ll be able to feel the effect of having a good credit score.

For more ways to improve your credit and get out of debt check out these other fantastic articles.

Tips on Reparing Your Credit
The Strangest Reasons People Have Gone Into Debt
Three Immediate Actions to Reduce Debt

Are you working to raise your credit score?

What Every Investor Should Know About The Stock Market

Posted on October 24, 2016 - 6:30 am by Jason Butler 1

investment tips, investor advice, stock market tips

Almost anyone can invest in stocks. It makes sense to approach investments with a level head and an artillery of valuable research. Try not to be impulsive or impatient when playing the stock market, or else you won’t profit as much as you can. Are you ready to learn a little more about the stock market? Keep reading this article for more tips.

It doesn’t take a fortune to invest in the stock market. You can start a solid portfolio with only $500. If you don’t want to do that, you can still invest in penny stocks. Using a minimal amount of money is a great way to introduce yourself to the market without worrying about losing too much of it. We all have to learn somehow.

Learn the investment terms. It may seem difficult, but it’s really not. You need to learn about various types of stocks, bonds, and funds to avoid making mistakes. There are several websites and books out there that can help you with the proper terminology. You have to have a conventional understanding of the terms if you want to get into the stock market seriously.

Something that you may want to consider is looking into technological advancements. An example could be a company coming out with a new phone or tablet. You could buy some of their stock. Some people have made huge returns after investing a small amount in the stock market. They were the ones that believed in a new idea, company or invention. The growth on some of those new products can be exponential Remember that this technique is somewhat risky, but it pays off well if you pick the right stock.

Remember that stock prices are reflections of earnings. In the short term immediate future, the market behavior will fluctuate depending on news and rumors and the emotional responses to those ranging from enthusiasm to panic. In the longer term picture, company earnings, over time wind up determining whether a stock price rises or falls.

Bear markets represent buying opportunities. The entire stock market is usually depressed during this time. That means that blue chip stocks are more accessible than usual so you can snag them for long term holding. Also, look for short-term holds that usually do well in slumping economies like dollar stores, movie theaters, and stocks like alcohol and tobacco.

It’s not the end of the world if you make a bad trade. It happens to every investor every once in a while. Don’t let that stop you from investing. You can take this opportunity to learn from your mistake. Ask yourself two questions. Why was the trade bad? How can you learn to spot a similar bad trade in the future? Once you can answer these questions, it’s time to move on. Use it as a learning experience.

If you want to achieve success with penny stocks, you should subscribe to as many online stock newsletters as you can. They can give you a wide list of potentially profitable penny stocks, as well as stock tips and other tips. These newsletters can help to ensure success with your investment.

In most cases, buying and holding good stocks is better than engaging in heavy trading of what might seem like better stocks. By keeping your turnover low, you can minimize what are termed as functional expenses. They include commissions, management fees, spreads and capital taxes. Low trading means low fees.

Tips For Investing in Gold

Posted on October 21, 2016 - 6:30 am by Jason Butler 3

gold investment options, gold investment tips, investing in gold

In the past, I’ve discussed several different ways to invest in such as stocks, and mutual funds. Today, I will be talking about gold. Have you ever considered the gold market as a new investment vehicle? Have you tried other markets with little success before? It doesn’t matter how much experience you have. The information you will read below will prepare you to trade on the gold market.

Figure out Dealers Cost

The first thing that you need to do is research on the fee and commission structures for the dealer you are considering. Every dealer will have different commission structures. Since that is the case you should compare multiple ones. By doing that, you will be able to get the best deal possible. Also, make sure that the dealer is reputable. You can check with the Better Business Bureau to make sure that they have given fair prices to people. Know what gold is currently selling for. The best place to find the price range is the internet. That way, you can go in knowing how much you can expect to receive. You will know if you are being lowballed. Everyone is not always honest. Some people will try to pull a fast one on you. Do not let people rush you when you are dealing with gold. There is a lot of money on the table with gold purchases and sales. You should take as much time as you need before you make a decision. If that means taking a few extra days to look into other options or waiting out for a price fluctuation, then so be it. – Hint: person to person sales via craigslist are often cheaper than going to brick and mortar or online dealer.

Figure Out Market Prices

Another thing is that you should know the current price per ounce of gold before selling your pieces. Doing so will help you figure out if a dealers offer is a good one or not. Many dealers will offer you the market value of your gold, but some know that sellers just want to convert their items into cash quickly, and they take advantage of the buyer. A good place to check the price of gold is have a look at Kitco.com.

You need to know what you have before you sell it. Understanding how gold alloy works. Since gold is too soft to be used by itself, it is combined with other metals to form an alloy. The karat system will tell you how much gold is in the alloy. In the US, jewelry must be at least ten karats for it to be legally allowed to be called gold jewelry. Higher karats equal higher density and more value. Buyers who don’t have a good reputation may try to take advantage of sellers who don’t know exactly what they have. Twenty-four karat gold is almost pure gold, so it is worth way more than fourteen or twenty karat gold.

Something that I recently found out was that any item containing gold could be sold to someone dealing in gold. It could be broken jewelry, tableware or the things that you have around your house. It doesn’t even need to be entirely pure either. Even gold plated items will have a little bit of value.

As I stated earlier, research the buyer. Most reputable dealers will be members of the American Numismatic Association. According to Wikipedia, the ANA is an organization that was formed to advance the knowledge of numismatics (the study of money), along with educational, historical and scientific lines. Those dealers are held to a higher standard of ethics, and they must follow certain criteria when purchasing gold from individuals.

Have you invested in gold before?

Have You Considered Putting Your Debt on a Diet?

Posted on October 19, 2016 - 6:30 am by Jason Butler 2

debt diet, getting out of debt, paying off debt tips

Hello, Dinks. Some of us still struggle with debt. I’m currently in the process of paying off over $72,000 worth. It’s not a game. I have friends who are in situations worse than me. Have you thought about putting your debt on a diet? As you know, dieting can help you lose a lot of weight. A well-planned budget can help you reduce your debt. In a perfect world, your income would be more than enough to cover all of your debt. Last time I checked, we don’t live in a perfect world. Bummer. Many times a person have more debt than their income. That’s a harsh reality. By setting a budget, you can put your debt on a diet and get rid of those unnecessary expenses.

You should get a pen and a pad because it’s time to work on that budget. You first need to determine how much income you have available. Create a list of your net income which is the money you receive after taxes, insurance and other auto payroll deductions. Next, you should include investments, child support, or other income that you receive. You need to include when and how often you are paid. Get as specific as possible. Estimates won’t work in this case. You should know the exact amount that you are bringing in monthly.

Next, document your monthly expenses including rent, utilities, transportation, entertainment, groceries, etc. If you have credit cards and loans, write down the due dates for each payment. Review your spending activities for the next month. Add anything you might have missed you created your original list. Once you see exactly where your money is going, the next step is to determine what areas you can eliminate some of the expenses. See if you can get cheaper renters or homeowners insurance. Call your different utility companies and see if you can a discount. I do this once or twice a year with my internet and cable providers.

Take the time to check with your bank or credit union and credit card companies to see if you can refinance or consolidate high-interest loans into ones with lower interest rates. If you drive to work, consider using public transportation. Cities like Washington D.C. and Chicago have pretty good public transit systems. The last thing is imperative. That’s to stop spending so much money. There are many ways to get low-cost or no-cost entertainment. You just have to be a little creative or think outside of the box.

Once you have your totals and you’ve eliminated unnecessary expenses, you need to subtract the expenses from the income. This will tell you how much extra income you have left to apply towards reducing your debt. Hopefully, you’re not is the red. If you are, it’s time to find a way to increase your income. Ask your boss for a raise or get a part-time job. You have to generate this extra money so that you can lower that debt.

Once you have that extra money, it’s up to you to figure out how you want to apply it to the debt. You can apply the money to your debt with the highest interest rate, or you can do the debt snowball. It’s up to you. I like seeing small wins, so I’m using the snowball method.