Mark Titus

Mark Titus is the founder and proprietor of a finance-focused platform. His ardor for finance led him to create the website, where he imparts his years of acquired knowledge to others. His attraction to the subject began in his college years, where he obtained a finance degree. Mark commenced his career in the financial sector, where he worked for a major financial institution, enriching his knowledge and expertise. Over the years, he has developed a profound understanding of financial markets, investment approaches, and financial planning, resulting in an extensive skill set in the industry.

Investing In Websites: How To Do It The Right Way

Reading Time: 3 minutesFrom all the ways to utilize the World Wide Web to gain financial freedom, investing in websites has been around ever since we wrote the first HTML and CSS code.  Prospective investors are constantly looking at new ways to put their hard-earned dollars and reap the benefits in the future. But as we already mentioned, investing in websites has been around for a while. Quite the contrary, professionals have been making money from websites for over a decade.  Granted, it took time for us to popularize the World Wide Web, but there’s no better time to explore this particular investing niche. So that begs the question, how does investing in websites work? Moreover, what website investment option types exist? We will look at these questions and provide a detailed overview of this particular investment niche. Before we begin, we must mention that this article doesn’t offer financial recommendations. Instead, we aim to educate our readers and highlight popular and niche investment options.  With all that said, let’s look at what investing in websites means.  Investing in Websites – A Beginner Look Investing in websites can take many forms. The rise of online commerce (eCommerce) and web-based outlets has paved the way for people to grow their wealth through online means. Nowadays, investors can generate passive income and grow their wealth simply by having an online footprint. Therefore, investing in websites can mean different things to different people.  But it is generally accepted that investing in websites is the practice of making money through purchasing and selling websites. However, as mentioned previously, investing in websites occurs in several forms.   These include purchasing an existing website, building and monetizing your own website, and participating in crowdfunding campaigns for web-based businesses. Let’s look at all three to determine what investing in websites means. 3 Ways to Invest in Websites The three ways to invest in websites include: Purchasing Websites One of the more popular website investment options includes purchasing an existing website. This is a low-risk website investment method. The gist is simple; you buy an already-established website that already generates income.  With this website investment method, investors can potentially earn a return on their investment through advertising revenue or selling products or services. Subsequently, investors can also flip the website for a healthy profit. Before buying a website, it’s important to do thorough research and due diligence on several website metrics, including website traffic, revenue, and expenses. We do this to ensure the website is a smart investment option. Building and Monetizing Websites If purchasing a website was relatively low-risk, building and monetizing a new website is the opposite.  This website investment method involves buying a website domain and finding ways to monetize. Popular options include advertising (ads), subscriptions, or selling products or services. However, this investing in websites method takes a lot of time to pull off.  Not only would investors need to invest money, but they also need to invest time and effort to see potential rewards. Finally, building a new website is far less costly than purchasing an already-established website.  Crowdfunding Web-Based Businesses In today’s time, a website is an online business. Every business and organization needs a website to increase visibility. Moreover, many businesses fully operate online through their websites. Therefore, there’s a third website investing option – crowdfunding web-based businesses. Participating in crowdfunding campaigns for web-based businesses allows investors to contribute some amount of money to help fund the development and growth of the web-based business. Investors, in return, get a share of the profits or equity in the company.  Like the previous website investing method, participating in crowdfunding campaigns for web-based businesses is risky. The reason for such high risk is that many such campaigns fail to reach their funding goals. Even if a business reaches its crowdfunding goals, the potential returns could be minimal.  Is Investing in Websites A Worthwhile Investment Option? The short answer is yes. Investing in websites can be a worthwhile investment option. However, there are caveats.  The downsides to this type of investment are time, effort, and money. Unfortunately, each website investment type demands all three to varying degrees.  Even if investors turn to “flipping websites,” it still takes time, money, and effort to prepare the website for a healthy profit.  Regardless of the website investing method, investors must do their due diligence. Therefore, the most important factor investors must consider is the research and due diligence process before investing money.   Next, investors should carefully consider the risks and potential returns before investing their money. With that said, the right approach can turn any website into a lucrative investment option that ultimately leads to building wealth and passive income.

Comparing VTSAX vs VOO: Which Fund To Choose?

Reading Time: 3 minutesVTSAX and VOO are the two largest index funds investors should consider when building their portfolios.  The Vanguard Total Stock Market Index, commonly known as VTSAX, and the Vanguard S&P 500 Index ETF (VOO) might seem similar to investors. But there are essential differences between both funds that investors should consider before deciding which one to invest in.  This guide will go over these differences and give you a thorough explanation of both. The guide’s goal is to provide enough information on VTSAX vs VOO so you can decide which investment fund to build your portfolio around.  Before we begin, we must emphasize that this website doesn’t focus on investment recommendations. Instead, we aim to educate eager investors and provide guidance.  With all that said, let’s start. What Is Vanguard Total Stock Market Index Fund (VTSAX) Vanguard Total Stock Market Index Fund, or VTSAX, exists to track the performance of the U.S. stock market or CRSP US total market index. This fund holds a diverse range of stocks of all cap sizes. The list includes large, mid, and small-cap stocks and growth and value stocks. So far, VTSAX holds 3535 stocks with a low expense ratio of 0.04%, which means it charges low fees to investors. Investing in VTSAX is only possible with a minimal $3,000 initial investment.  What Is Vanguard S&P 500 Index Fund? On the other hand, VOO, or the Vanguard S&P 500 Index Fund, only tracks the performance of the 500 biggest publicly traded companies in the U.S., as the name suggests. In addition, this fund holds large-cap stocks primarily, with most stocks coming from the tech sector. As a result, VOO has a slightly higher expense ratio of 0.03%. Other than that, VOO holds only 508 shares and doesn’t offer the possibility to invest in fractional shares.  Now that you have a general idea of VTSAX vs VOO, let’s look at the main differences between both investment funds. VTSAX vs VOO Differences The differences between investment funds will provide even more information to plan your future moves. Despite being similar, there are significant differences between both funds.  Cap Size The first difference between VTSAX vs VOO is the cap size. Namely, VOO tracks only large caps. Given that the fund tracks the S&P 500 index, you will rarely find a mid-cap. On the other hand, VTSAX tracks large-caps, mid-caps, and small-caps.  VTSAX offers a more diverse portfolio. It includes stocks from different sectors and market capitalizations. For example, 84% of the VOO fund is made of large caps, compared to 73% for VTSAX.  This means two things. One, VTSAX is less susceptible to market fluctuations and the performances of specific sectors. Two, VOO is heavily susceptible to potential market fluctuations. Remember that VOO tracks the S&P 500 index, which predominantly includes companies from the tech sector. Considering that, it’s important to remember that VOO can succumb to market fluctuations more easily than VTSAX.  Performance Another difference in the VTSAX vs VOO debate is market performance. This is a crucial difference that investors must pay attention to. Looking at the historical performance of both funds, we can conclude the following: The stats show almost identical market performances. With that said, these numbers do not necessarily indicate future returns, as is the case with the performance over the past year. Given that, it’s essential to consider other factors when deciding between these two funds. Other Differences To finish up, we will name other differences investors should pay attention to when choosing between VTSAX vs VOO. Those are: Wrap Up Choosing between VTSAX vs VOO as the desired investment fund depends on several factors. None are most important than your goals and risk tolerance. For example, VTSAX may be better for investors looking to diversify their investment portfolio. On the other hand, VOO may be more suitable for investors looking to invest in the tech sector. Look at both sides to determine which investment fund is right for you.

Is Owning Condos for Rentals a Smart Investment? Benefits And Challenges

Reading Time: 3 minutesOwning a condo for rental purposes can be a smart investment opportunity. However, investors must be willing to put in the time and effort to manage their property. If so, condos for rentals are an excellent way to diversify your real estate portfolio.  One of the reasons why many choose to own condos for rentals includes the lowered costs. Namely, turning a condo into a rental property costs far too less than buying a house. So that begs the question, is owning condos for rentals a smart investment? Let’s find out. 3 Reasons Why Condos Are A Smart Investment Condos offer real estate investors several benefits. Therefore, we can answer the question by looking at the following three reasons.  One of the reasons you should consider owning a condo for rentals is the low maintenance costs. Unlike traditional rental properties, which often require extensive repairs and upkeep, condos typically have a homeowners association that takes care of common areas and exterior maintenance.  This means landlords can spend less time and money on maintaining their property and instead focus on finding and retaining tenants. House prices are getting ridiculously high. So what do people who can’t afford a house do? – They rent. That’s where rental condos come in. Renters love condos, particularly in urban areas.  As we all know, cities are getting bigger and more crowded by the year. So space comes at a premium. Condos are smaller and often in desirable locations. They are especially appealing to students, young professionals, and people that live alone. Landlords who own condos in popular areas can often command higher rents, leading to increased profitability. Finally, owning a condo for rental purposes can be a good long-term investment. As the value of real estate tends to appreciate over time, landlords who hold onto their property for the long haul can potentially see significant returns on their investment. So for eager real estate investors looking to diversify their portfolio, consider owning a condo for rentals. 3 Challenges Of Owning A Condo For Rentals  Investors should know several challenges before diving into the condo rental world.  While owning a condo for rental purposes can be a rewarding experience, it’s important to be aware of the challenges that can arise. So let’s do that to get a sense of whether or not condos are a smart rental investment. One of the main challenges is finding and retaining tenants. High tenant turnover isn’t anything new in the world of commercial real estate.  While every landlord should screen tenants to determine their financial situation, landlords must also be aware that tenants come and go.  One thing landlords can do is look for tenants who will pay at least three months in advance to know they’re serious. Every landlord should be aware of the marketing challenges associated with rental condos. While there is no shortage of websites to market your condo for rent, remember you’re competing with every other landlord in your city. That means landlords must consider their marketing efforts and do better to get the most desired tenants.  Landlords must also learn how to manage their rental condos. Fortunately, owning a condo for rental involves less management than traditional rental properties. For example, landlords must determine fair market rent even if condos are in high demand. You must also be prepared to evict a tenant who doesn’t play by the lease rules.  Lastly, landlords must be prepared to handle any maintenance or repair issues that may arise, even if these tasks aren’t their responsibility. Conclusion To summarize, owning a condo for rental purposes can be a smart investment for those willing to do the work. With low maintenance costs, big rental demand, and the potential for long-term appreciation, condos offer several benefits for landlords.  However, it’s important to know the challenges that can arise and to be prepared to put in the time and effort required to manage a rental property.

The Best 7 FIRE Books

Reading Time: 4 minutesFinancial independence retire early, or FIRE, in short, is a popular movement that aims to help individuals achieve their financial goals and financial independence and help them retire at a young age. While the concept may seem daunting to some, many FIRE books are available that provide guidance and inspiration for those looking to join the FIRE movement. And what better way to learn something new than through reading? Therefore, here are seven of the best FIRE books to help you achieve financial independence and retire early: The Simple Path to Wealth Written by JL Collins, this is a must-read FIRE book for anyone interested in achieving financial independence and retiring early. Collins provides a clear and concise guide to investing, saving, and living a frugal yet fulfilling life. He covers the importance of saving and investing in index funds and how to live below your means. This FIRE book is also forwarded by one of the biggest finance bloggers on the internet, Mr. Money Moustache. Your Money or Your Life Written by Vicki Robin, this classic book is a comprehensive guide to financial independence and a staple of the FIRE lifestyle. Robin covers many topics, including budgeting, investing, and living a meaningful life. She also provides a step-by-step plan for achieving financial independence, including calculating your “financial independence number” and creating the perfect budget for your needs. The Millionaire Next Door Written by Thomas J. Stanley, this book debunks the myth that you need to be rich to achieve financial independence. Stanley profiles people who have achieved financial independence through hard work, smart investing, and frugal living. He provides valuable lessons on achieving financial freedom, regardless of income level. The Bogleheads’ Guide to Investing Written by Taylor Larimore, this FIRE book is an excellent resource if you are looking to start investing in index funds. Larimore and his co-authors provide a clear and concise guide to FIRE investment, covering topics such as asset allocation, risk management, and tax optimization. They also offer practical tips for achieving financial independence through wise investing. Retire Early? The Non-Penny-Pinching Way By Tanja Hester. Tanja is the author of many interesting financial books, such as Wallet Activism. This FIRE book makes you rethink money, time, and work to ultimately get you interested in the FIRE movement. And as the critics say, this book is for people who move away from the traditional career path. She also covers topics such as investing, budgeting, and living a frugal yet fulfilling life. Quit Like A Millionaire  Written by authors Bryce Leung and Kristy Shen, this book explains the basics of the FIRE movement, and since both writers are authors of children’s books, it’s explained so that everyone can understand. The book talks about investing, retirement, frugality, and smart budgeting. We recommend this book if you are getting started with the FIRE movement. Retire Early with Real Estate Written by Chad Carlson, this book is for people passionate about real estate. It’s a good read, and it helps you understand real estate investing and contains many valuable and practical tips. Real estate has shown in the previous years that is a stable investment if you are doing it right, and Chad Carlson is living proof of it. Final Thoughts If you decide to start the long journey to financial independence or are already on your way down, these FIRE books will undoubtedly provide valuable guidance and inspiration. By following these authors’ advice, you’ll be well on your way to achieving financial independence and retiring early. FAQs What Book Started the FIRE Movement? The book that started the FIRE movement is “Your Money or Your Life” by Vicky Robin and Joe Dominguez. They wrote the book in 1992, paving the way for the FIRE movement and FIRE lifestyle. How to Retire Early With Real Estate? If you’re looking to achieve FIRE through real estate, the book “Retire Early With Real Estate” is an excellent source that teaches readers the fundamentals of real estate FIRE fundamentals. What Are the Best FIRE Books to Achieve Financial Independence and Retire Early? The best FIRE books for financial independence and retiring early are:

9 Emotional Signs You Need to Retire

Reading Time: 4 minutesIt is hard to decide when to retire, and having a set of emotional signs you need to retire can make the decision easier. For some, the choice depends on whether they feel ready to start living a more leisurely life of travel or spend time with family. For others, the reason could be finding a new hobby or even an inability to deal with stressful tasks. More often than not, it is a choice muddled by emotions, which is problematic. The problem is that many people honestly do not know when they are ready to retire. Consequently, here are the nine emotional signs you need to retire. Envy and Stress Envy is perhaps the earliest sign of impending retirement. When you start feeling envious of coworkers nearing that period, it might be the best time to start preparing for retirement. It is a clear sign, yet many people tend to miss it. You should not feel concerned about your newfound envy – you should take it as a sign that you are ready for a different pace of life. After all, this is just an emotional sign you need to retire. Even without this article, you should know that constant stress means you are ready to retire. Although many people feel stress throughout their working lives, there comes a time when they feel as if they can no longer cope with it. When that time comes, it is best to retire early. Apathy and Musing Another common sign that you should retire now is apathy. For many, indifference is not uncommon. However, when indifference turns to apathy, it is usually an emotional sign you need to retire. Be careful not to confuse this feeling with job dissatisfaction. While the former might mean you need to retire, the latter means it could be time to switch jobs. Musing is harder to notice. Many people spend time musing on various ideas. Although, when you find yourself constantly musing about how your job stops you from spending time with family and becomes too great of a burden, it could mean it is time to retire. Dissatisfaction and Complacency Dissatisfaction can come in many forms. After all, it has become an inadvertently integral part of many workplaces. Part of the problem is that many people disregard the emotional signs you need to retire. It is hard to take dissatisfaction as a definite sign that you should retire, but if the time is right, it might as well be. People are always looking forward to retirement, but if the job is unfulfilling to the extent that it is all you can think about – retire now. Have you ever felt as if you have done all you could in your field of work? This feeling often comes with a sense of accomplishment, but sooner or later, it brings complacency. Complacency does not have to be a negative feeling. After all, there comes a time when you truly have used up all your networking opportunities. Additionally, you may have done everything you could or wanted to do in a specific field, which is why complacency is often an emotional sign that you need to retire. Anger and Frustration Nowadays, fast-paced work environments have made sure that anger and frustration are unavoidable. As people grow old, they lose the ability to filter these emotions. Suddenly, these two crucial emotions that had once been their drive to succeed have now become a hindrance.Similar to aging, retirement is an unavoidable phenomenon. The more time you spend working, the closer you are to it. As a result, these emotional signs that you are ready to retire are often a hard pill to swallow, especially for those who have spent their entire lives dedicated to a profession. However, as many adjust to their retirements, they soon realize that it may not have been such a negative aspect of life. Depression Depression, the last and most important of the emotional signs that you need to retire, is often the most downplayed of them all.It is the one emotion that all of the previously mentioned ones lead to if left unchecked. Accordingly, it should be one of the most obvious signs that it is time to retire. Many deal with depression after retirement, which is why it is best to address it as soon as possible. Neglecting to do so can lead to various issues down the line, which is why work-induced depression should not be taken lightly and often calls for early retirement. Planning for Retirement Although any of these emotions could justify retiring early, the question is whether you can retire early. This, in turn, depends on a select few variables. Afterword In summary, there are numerous emotional signs that you need to retire. Not all of them should be taken seriously, and not all of them should be taken lightly. In the end, it is up to the person to decide whether or not it is the right time to retire.Nevertheless, people are often unaware of their emotions and could feel as though they have an obligation not to retire. In the end, if you have the means to and no longer feel the need to work, it might just be a good time to retire.

Why Is Dubai So Rich? And Why Are Rich People Moving There?

Reading Time: 4 minutesWe all know of Dubai, one of the most luxurious cities in the world, if not the most luxurious, but have you ever asked yourself why is Dubai so rich? Dubai has been a city of commerce for the last 200 or so years. Its positioning allowed it to progress in the trade industry long before it ever discovered oil. But let’s start from the beginning; how did Dubai become what it is, and how has it progressed over the years? Dubai Then And Now Starting from the 1700’s Dubai was one of the leading places for pearl production and pearl distribution. The people were skilled in fishing and pear diving, this did bring some wealth and success to the city, but it’s nothing compared to today. The Dubai we know started in 1950 when oil was found on its territory. After that breakthrough and after exporting that oil for the next 20 years, Sheikh Rashid bin Saeed Al Maktoum, the Father of Modern Dubai, decided that Dubai’s portfolio needed to be expanded. He built the first airport and started working tirelessly on improving the infrastructure. Highways were built, ports, factories and many buildings, and all that laid the foundation for what Dubai is today. The Sheikh focused on bringing tourism to this city. He made the largest free zone in the world, gave the best tax breaks to companies, and had the infrastructure possible development for the companies. It surely looked like Dubai was on the right path to becoming the jewel of the middle east. Today, 50 years after the Sheikh’s plan was devised, Dubai is everything he could have imagined and more. Dubai has the tallest building in the world, the best highways, the biggest shopping malls, the best restaurants, hotels, private islands, and even a ski slope… This was all made possible with the magnetic attraction Dubai has, with over 3.4 million residents, and is ranking the 1st richest city regionally and the 23rd richest city in the world. But after striking oil, Sheikh Rashid bin Saeed Al Maktoum said, “My grandfather rode a camel, my father rode a camel, I rode a Mercedes, my son rides a Land Rover, and my grandson is going to side a Land Rover, but my great-grandson is going to have to ride a camel again.” The Sheikh’s words speak about Dubai’s supposed dwindling oil reserves after decades of excavation. While it’s impossible to speculate when Dubai will run out of oil, we can speak about why rich people and extremely rich people are constantly moving to Dubai. Why Are Rich People Moving to Dubai? There are many reasons why the rich are moving to Dubai, but we can sum everything up into one bigger reason – the quality of life for rich people. Let’s get started: It’s Easy to Get a Resident Visa. Since we are talking about rich people, in Dubai, you can buy a property (and some of the properties aren’t that expensive, to begin with), and the state will provide you with a resident visa for 3 to 5 years, depending on the property you bought. The Quality of Life As we mentioned earlier, the quality of life in Dubai (especially when you are rich) is amazing. There, you can find the best restaurants, shopping centers, and hotels. The buildings, the parks and the whole scenery of the city have been almost made perfect. Tax Breaks The UAE and Dubai have adopted a 0% income tax policy, and as they said, that won’t change anytime in the near future. This means that you will get 100% of your salary. Also, besides a 0% income tax for individuals, there’s a 0% tax policy for companies which is the main reason why business owners move or open up new companies there. Networking The UAE is the third richest country in the world per capita, only behind Luxemburg and Qatar. This is very good news if you are going there for networking. A large percentage of the people you are going to meet there are rich or are getting there. It’s not easy finding like-minded business people who wouldn’t want to live in a city where most people have an entrepreneurial fire in them. Many of today’s business deals and business meetings are happening there, right place, right time, right? Events Another important part for business people is the events. Being in the same building as the industry giants, pitching an idea, and looking for investors for your new company all comes from networking at these events. Dubai currently has the biggest cryptocurrency events, construction, medicine, business, sales, textile, gas, oil; you name it. Why travel every time when you can be next door to an event like this? There are more than plenty of good reasons for any rich person to consider moving to Dubai, even partially. The options provided to get richer and enjoy life while doing it can not be compared to any other city. Wrap Up We can’t tell you if you should or shouldn’t move to Dubai, but we were just trying to state the obvious facts. It’s no secret that the business climate in Dubai is the best in the world, and its future is looking even brighter, but if you are an individual who is trying to make it, maybe you should consider this as a valid option.

What is Airdrop Farming? How To Earn Passive Crypto Income

Reading Time: 4 minutesAirdrop farming is when a cryptocurrency project delivers tokens to holders’ wallets. Airdrops are a form of marketing strategy that incentivizes holders to perform an action or hold on to their tokens. In return, the project delivers these tokens to the holders. Airdrop farming is a sound strategy with a clear goal and objective. That being to raise awareness for the project. Airdrop farming has several benefits in a highly competitive market where projects fight for market share. Let’s find out what airdrop farming is and how you can earn passive crypto income. So with all that said, let’s start. Key Takeaways What Are Crypto Airdrops? Blockchain startups rely on multiple marketing strategies to raise awareness for their projects. One of these strategies is airdrop farming. Airdrop farming is a popular strategy when the project is in the Initial Coin Offering stage – meaning the cryptocurrency has just been listed on exchanges. Cryptocurrency projects will share the airdrop on their social media profiles and website to promote the marketing activity. A successful airdrop campaign is when the project manages to increase the number of token holders. In return, holders get rewarded with free tokens. How To Qualify For a Crypto Airdrop? We mentioned that holders must perform certain actions to be eligible for airdropped tokens. This could mean participating in an event, signing up for a newsletter, posting about the cryptocurrency project on your social media, and more. In most cases, airdrop campaigns require holders to hold a minimum quantity of cryptocurrency. In return, they are given free tokens. What Types of Airdrop Farming Projects Exist? Several types of airdrops exist in the cryptocurrency space. These are but are not limited to: A standard cryptocurrency airdrop is when holders receive the tokens by simply expressing interest in the project. Many standard airdrop campaigns require the holder to provide their token address only. A standard airdrop campaign has limited amounts of tokens available, and there’s a limit to how many tokens holders can receive.   A bounty airdrop campaign requires the user to perform a specific task. This could be raising awareness for the project, sharing the project on social media, or recruiting others.  If the campaign asks holders to recruit others with a referral link, the holder receives a finder’s fee for every new user that signs up through their referral link. Holder airdrops are the most common form of airdrops. These airdrops occur when the cryptocurrency project rewards users for holding the cryptocurrency in their wallets.  This form of crypto airdropping works based on how many tokens the user holds. Even if token holders don’t want the airdropped tokens, they can do nothing about it, as the cryptocurrency project will send the tokens to every holder’s address.  An exclusive airdrop is a specific type of cryptocurrency airdrop. This form of airdrop rewards holders not necessarily for holding large amounts of the cryptocurrency’s token but for other activities. Exclusive airdrops reward users who invest time into the project, such as raising awareness, posting on forums, referring others users to the projects, etc. In some cases, users with zero tokens in their addresses might receive the airdrop. How to Farm Airdrops? Now that we’ve explained the basics of cryptocurrency airdrop farming, let’s see what it takes to farm airdrops. Moreover, is it possible to earn passive crypto income with airdrop farming? The short answer to this question is yes, as all it takes to be eligible for airdrops is to do what the crypto project asks. You can farm airdrops by simply owning the cryptocurrency. But in most cases, you need to own a blockchain-based cryptocurrency – Bitcoin, Ethereum, Cardano, Polkafot, EOS, etc.  Since other cryptocurrency projects operate on these blockchains, you will be rewarded by simply owning the base cryptocurrencies. But by far, the best way to farm airdrops is to look for airdrops actively.  You don’t need to look far as you have all the information you need by visiting Airdrops.io. This website gives you information on the latest and hottest airdrops. In addition, you can see the requirements for each airdrop.  Another popular way to find information on upcoming airdrops is to join cryptocurrency Discord servers. In addition, Twitter is an excellent space for airdrop farming rumors as it has a well-developed cryptocurrency community. Finally, you can look for airdrop rumors on this Google Spreadsheet.  By applying these methods, you are one step closer to successfully farming cryptocurrency airdrops.  Conclusion Airdrop farming is a clever way to increase your token holdings for specific cryptocurrencies. The goal of airdrop farming is for projects to raise awareness for their coin and for holders to receive something for free. Therefore, it’s a win-win situation for both parties.   But is airdrop farming a viable method to earn passive crypto income? The answer is yes. However, not every airdrop is worth participating in. Some airdrops are worthless because the base cryptocurrency is worthless. So it makes no sense to invest your money into a worthless project. We will always mention doing your own research before investing in anything, especially cryptocurrencies. It’s not uncommon for crypto scammers to use airdrops to acquire your email and potentially your private keys.

The 60 30 10 Rule Budget – The Perfect Budget For Long-Term Goals

Reading Time: 6 minutesThe 60 30 10 rule budget is a simple but highly structured budgeting strategy. It is a budgeting tool for people striving to achieve their long-term goals and to help individuals overcome their impulsive spending habits. The 60 30 10 rule budget achieves this by encouraging individuals to put aside 60% of their income for a better tomorrow. This article will go over the 60 30 10 rule budget and explain why it is the perfect budgeting tool for long-term goals and impulsive spending. What Is The 60 30 10 Rule Budget? Let’s add more clarity through an example. Let’s say your take-home pay is $7,000. Judging by the framework of the budgeting strategy, 60% of your pay should be invested, saved, or used to pay off debt. That equates to $4,200. 30%, or $2,100, of your income should cover necessities, while the remaining 10%, or $700, goes to personal expenses. Is The 60 30 10 Rule Budget Right For You? We can’t stress enough that this budgeting rule is made for people with strong wills who are dedicated and disciplined enough to save or invest 60% of their monthly income. The 60 30 10 rule budget has a single goal – making tomorrow easier and better. To keep up with the 60 30 10 budget rule, you will have to quit certain wants and guilty pleasures, and you will have to say NO more frequently than you are used to. You might have to skip that new movie at the cinema, say no to your friends when they call you for a drink two nights in a row, or go to that museum you wanted to visit. Instead, you will be solely focused on improving your personal finance. This sounds quite strict, but the 60 30 10 budget rule will make your life much easier. The 60 30 10 budget rule enables more money to be saved or appropriately invested. It will help you achieve the goals you’ve always wanted, such as becoming a homeowner, being prepared for dark days, or putting your kids through college. At the end of the day, it’s a simple decision, do you want a better today or a better tomorrow? Advantages And Disadvantages Of The 60 30 10 Rule Budget As with any budgeting method, it all comes down to comparing the advantages and disadvantages to make a decision. The 60 30 10 rule is similar to others in that view. Therefore, here are the advantages and disadvantages of the 60 30 10 budgeting rule: Advantages Of the 60 30 10 Rule Disadvantages Of the 60 30 10 Rule Other Types Of Budgeting The 60 30 10 budget isn’t the only budgeting rule out there. There are plenty of other budgeting options that might do wonders for you. Here are a couple of different budgeting rules for you to consider: Is the 60 30 10 Rule Budget For You? Budgeting tools are numerous and vary, as mentioned in the previous section. Therefore, before you decide on the 60-30-10 rule budget, you must determine if it is right for you. Here are a few points that best illustrate if the 60 30 10 rule budget is for you: If you fulfill some or most of these points, the 60 30 10 rule budget is for you. Even if you’re not ready to allocate 60% of your income towards a goal, you can always be flexible and modify the rule to best suit your financial power. How to Get Started With the 60 30 10 Budget? Using a budget strategy to reach your financial goals and targets is simple. All you need to do is follow these steps: Step 1: Calculate Your Income Calculating your income is the first step to using the 60 30 10 rule budget. Bear in mind that you must do the calculations after tax. To begin, add all of your monthly income. This includes income from your primary job, side hustles, and other sources, such as renting an apartment.  Step 2: Calculate Your Spending Similarly, you must calculate how much you spend and on what. Doing this is tricky, as we’re never fully sure where our money goes unless we pay strictly with a card. Nevertheless, it’s something you have to figure out. You can log in to your bank account and go back a month to calculate your credit/debit card spending. If you’re paying with cash, review your receipts to gain a somewhat full picture.  Step 3: Set Up a Financial Goal The most crucial step to using the 60 30 10 rule budget is to work towards achieving a financial goal. But to do that, you must first have a financial goal in place. So, start by outlining a big financial goal you wish to accomplish. A few examples could include: Step 4: Categorize Into Three Groups By now, you probably have a rough picture of how much you earn versus how much you spend. So in this step, we will focus on where your money should go. To do that, categorize your money into three groups. Those are: Remember that you should put 60% of your income into this group.  This should account for at most 30% of your income. If it goes above 30%, look for ways to cut on necessities. While that might sound difficult, an example would be canceling subscriptions, reducing electricity usage, lowering housing expenses, etc.  The “wants” group accounts for money you can spend on stuff you want for yourself. Despite wanting to achieve your long-term financial goals, treat yourself to nice things occasionally, but make sure it doesn’t exceed 10% of your income.  Step 5: Evaluate Each Category We’re not done yet; you’ll need to evaluate each category once or twice before making it stick. This is the step that helps you determine if you can stick to the percentages of the budget.  Creating a budget isn’t easy, as you’re never 100% certain of your spending and income, especially if you’re also working part-time or have a business

HCOL VS LCOL Areas: What Is Financially Better?

Reading Time: 5 minutesWhere you live can impact many aspects of your everyday life. Many people, for example, realize that their finances will be affected. However, some fail to understand that their contentment is also among these aspects. That’s where today’s topic comes into play. HCOL and LCOL are two acronyms that may not mean a lot to you right now, but in a paragraph or two, you will realize precisely why people should be concerned about their cost of living. KEY TAKEAWAYS What Do HCOL And LCOL Mean? To avoid any confusion that may arise from the terms HCOL and LCOL, we will look at them both in isolation and concerning one another, and a short mention of what is MCOL. HCOL Meaning The term HCOL means high cost of living. That is precisely why terms such as HCOL area and HCOL cities get thrown around so often. The variables considered include median home, gas, and food prices (among other factors). As it would be near impossible to categorize cities without a frame of reference, most cost of living indices compare sets of cities. Still, some cities are so notoriously high-cost that they can be considered HCOL cities even in isolation. One example of a HCOL city is New York, and an example of a HCOL area could be Manhattan. We’ll look into the numbers later on. LCOL Meaning LCOL is the opposite of HCOL, and stands for low cost of living. Likewise, in LCOL areas and cities, living costs are objectively low. Similar to HCOL cities, some cities are known for being low-cost, even in isolation. One such LCOL city is Mississippi, while a LCOL area can be Holmes County. MCOL Meaning Wherever there’s a high, there’s also a low. Naturally, there also has to be something in between. In this case, that would be MCOL, which refers to medium living costs. It would include MCOL areas that do not belong in either of the two categories mentioned before. HCOL VS LCOL Comparison There are numerous ways in which the terms HCOL and LCOL impact our everyday lives. Even people unaware of the terms refer to the idea of living costs. As expected, a HCOL area can come with its benefits and drawbacks, similar to how LCOL cities can have their pros and cons. Consequently, we will be looking into what the terms HCOL and LCOL entail in practice. HCOL – Pros and Cons First, we’ll cover the pros and cons of living in HCOL cities. Among the most famous HCOL cities (or states) is New York. As we mentioned, a specific HCOL area within New York is Manhattan, where the cost of living index is roughly 237% above the nation’s average. Therefore, life in New York will cost more compared to other places. While you might be able to become financially independent sooner, there will be fewer opportunities to save up and invest. You should also be aware that HCOL cities often have high unemployment rates, as is with New York’s rate of 6.6% (almost double the national 3.5%). Nevertheless, if you make a decent living, HCOL cities offer a robust lifestyle and quality infrastructure. These pros and cons apply to numerous HCOL cities found on Mercer’s 2022 Cost of Living Ranking, such as Hong Kong (1), Zurich (2), New York (7), Tokyo (9), and Beijing (10). LCOL – Pros and Cons LCOL cities, on the other hand, are the exact opposite. Besides spending less money on average, you can expect to avoid many issues brought about by stressful work environments and long hours, such as depression, fatigue, diabetes, and even addiction. With the rise in remote work, you can save and invest significantly more than if you lived in a HCOL area. There are, however, some downsides to living in a LCOL city. Local job opportunities will be rare and generally less stable than those in a HCOL area. Suddenly, even minor economic shifts can affect your everyday life. The previously mentioned would hold for countries ranked lower on Mercer’s 2022 Cost of Living Ranking, like Calgary (141), Cairo (154), Warsaw (174), Budapest (180), and Cape Town (194). HCOL VS LCOL USA Comparison Even in the US, HCOL and LCOL states share the same pros and cons. HCOL areas offer a more stressful way of life but more growth opportunities, while LCOL areas offer the exact opposite. In terms of the cost of living index, Mississippi (84.5), Oklahoma (86.7), Alabama (87.1), Kansas (87.3), and Iowa (88.2) rank the lowest. These states are textbook examples of LCOL living. For them, this ranking is due to their relatively low grocery, housing, utilities, transportation, and health costs. Compared to many HCOL states, your average expenses can be over 40% lower. On the other hand, Hawaii (186.0), the District of Columbia (153.4), Massachusetts (149.9), California (138.7), and New York (135.7) are on the top of the list. Some of their index scores, such as those related to grocery and housing, are nearly double the average 90.1. HCOL VS LCOL: How Can You Know Which One To Choose While HCOL and LCOL areas have benefits and drawbacks, the criteria are relatively objective. It means that the top HCOL cities are considerably more expensive than LCOL cities. As a result, the choice of whether or not to live in a HCOL or LCOL city is quite hard to make. However, these questions can help you decide First of all, can you work remotely? If you can, you may reap the benefits of living in a LCOL area with the salary of a person living in a HCOL area. That can ensure lots of investment opportunities that you may not have otherwise. Second of all, do you want to live in a big city? If you wish to try your hand at life in the big city, the costs of living in a HCOL area could be more bearable. After all, no pros of living in a LCOL area are worth it if you are

Act Broke to Stay Rich: The Secret to Building Wealth

Reading Time: 4 minutesOne of the lesser-known money-management tips is to act broke to stay rich. Unfortunately, acting broke to stay rich is something billionaires aren’t telling you about. Why? Because it works flawlessly. You might be wondering, how? It all comes down to one simple thing; rich people stay rich by living like they’re broke. Although this doesn’t apply to every rich person, it makes sense in multiple ways. That’s why we will tell you several ways to act broke to stay rich. But before that, is there a reason why billionaires are acting broke to stay rich? Why Should You Act Broke to Stay Rich? To explain why everyone should try this money-management tip, we must outline the benefits. No benefit of this tip more perfectly encapsulates the meaning than Keanu Reeves.  Namely, there’s a reason why everyone’s favorite actor doesn’t show off his wealth. As a matter of fact, Keanu Reeves doesn’t even own mansions, expensive cars, or jets.  He lives a simple life. Some even say he lives a broke life. After all, we’ve seen numerous examples of Reeves’ lifestyle. Not only does he ride the bus, but he lives an extremely frugal lifestyle.  So what could be the benefits of acting broke to stay rich? Here are a few: Acting Broke to Stay Rich Keeps You Focused  Not everyone is comfortable grinding their way to wealth. That’s what separates wealthy people from others. Unless you’ve been born into wealth, you either need to find that next big thing or grind your way to wealth. But what happens once you get there? Do you start flashing your cash and living like a king, or do you tone it down and keep the focus on what’s important? Of course, there is no wrong answer, but we can make a case for the latter. Namely, acting broke puts your entire focus on making more money. After all, you have to work more to make more. So by acting like you’re broke, you’re putting yourself in the grind mindset.  Acting Broke to Stay Rich Keeps You Thinking When you’re broke, you think about ways to make money. But if you’re rich, your money problems go away. So by this logic, rich people choose purposely to act broke to keep them thinking about how to be rich. Again, this way of thinking puts rich people in the grind mindset. But instead of focusing on the objective, you also think about ways to get there. Being “focused” and “thinking” are two separate things, but they get you to the final destination nonetheless. Acting Broke to Stay Rich Keeps Your Money Safe The easiest way to go broke is to spend your money. But if you’re rich and act like you’re broke, you put your money away and keep them safe. That way, the risk of spending all your money and going broke doesn’t exist. If you don’t spend any of your money, could you lose your wealth?  How to Act Broke to Stay Rich? Now to the fun part. Let’s explore the ways to act broke to stay rich. Act Broke to Stay Rich Tip #1: Don’t Spend Needlessly Needless spending puts you on a one-way train to “broke town.” That’s because plenty of people start spending needlessly once they acquire wealth. But these people don’t understand that every well can go dry. Our first way or tip to act broke to stay rich is to stop spending your money on things you don’t need.  Act Broke to Stay Rich Tip #2: Put Your Money Away Acting broke to stay rich is a money-management tip. And what better way to accomplish your goal than to put your money away? That doesn’t mean putting your money in a savings account. Instead, you could invest it in real estate, buy shares, precious metals, commodities, etc. The point is to put your money away, so you don’t have much to spend. Allocate enough money to live a modest life and a life free of financial headaches.  Act Broke to Stay Rich Tip #3: Don’t Bring Attention If there is one thing that every “act broke to stay rich” person does is keep a low profile. Some rich people don’t want the attention of the Benjamins. They want to live a good life and don’t want 10 ft walls around their three-story mansion. Doing this has the opposite effect of acting broke to stay rich. After all, the whole point is to paint a facade around the fact that you have money but choose not to show it to anyone. Conclusion That concludes this guide on ways to act broke to stay rich. If there is one thing that we can take from this lifestyle is that people choose to do it. They don’t want others to know about their wealth and decide the best way to hide it is by acting broke. So let’s end it with this one question: should everyone act like they’re broke if it helps them to stay rich? FAQs How to Act Broke to Stay Rich? You can act broke to stay rich by not spending money needlessly, putting your money away, and not bringing attention to your money. These three practices will help you preserve and build on your accumulated wealth. Is It Clever to Act Broke When Rich? Acting broke is a clever way to hide your wealth. More importantly, it’s a clever way to preserve and continuously accumulate wealth.