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Unbelievable Surge: Why Gold and Bitcoin Are Skyrocketing

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The Phenomenal Rise of Gold and Bitcoin: Is Their Meteoric Rise Just a Bubble?

<p>The financial world is witnessing an extraordinary surge in the value of gold and Bitcoin. This article delves into the reasons behind their skyrocketing prices and explores whether this trend is sustainable or merely a speculative bubble.</p>::Pexels

 

The financial world is witnessing an extraordinary surge in the value of gold and Bitcoin. This article delves into the reasons behind their skyrocketing prices and explores whether this trend is sustainable or merely a speculative bubble.

 

The Current Landscape

Gold and Bitcoin have shattered records, with gold prices breaching the $2,100 mark and Bitcoin soaring past $69,000. These milestones are not just numbers; they represent a shift in investor sentiment and a quest for assets that can act as a hedge against inflation and currency devaluation. The allure of these assets has been magnified by the promise of lower interest rates, which could potentially ease sovereign debt burdens.

 

The Driving Forces

Several factors contribute to the ascent of these assets. For gold, central banks’ substantial purchases and geopolitical tensions have played a significant role. Bitcoin’s rally, on the other hand, is fueled by the excitement surrounding its upcoming halving event and the inflows into spot Bitcoin exchange-traded funds in the United States. These developments reflect a broader trend of investors seeking alternatives to traditional fiat currencies.

 

The Bubble Debate

<p>Amidst the excitement, there’s a growing debate on whether these price surges are indicative of a bubble. Historical data shows that both gold and Bitcoin have experienced significant volatility, with rapid price increases followed by sharp corrections. This pattern raises questions about the sustainability of the current price levels and whether they are driven by fundamental value or speculative trading.</p>::Pexels

Amidst the excitement, there’s a growing debate on whether these price surges are indicative of a bubble. Historical data shows that both gold and Bitcoin have experienced significant volatility, with rapid price increases followed by sharp corrections. This pattern raises questions about the sustainability of the current price levels and whether they are driven by fundamental value or speculative trading.

 

The Contrast and Surprising Trends

Interestingly, the correlation between gold and Bitcoin has reached its highest level in over a year, suggesting that investors may be viewing them as similar investment vehicles4. This convergence is surprising given their distinct market dynamics and historical performance, which typically show gold as a stable asset and Bitcoin as highly volatile.

 

Relevance and Appeal

The relevance of gold and Bitcoin in today’s financial landscape cannot be overstated. Their appeal lies in their potential to provide security in uncertain economic times. As investments, they offer contrasting yet complementary options for diversifying portfolios and protecting wealth against market fluctuations.

 

Conclusion

As we observe the remarkable surge in gold and Bitcoin, it’s crucial to approach these assets with a balanced perspective. While they offer exciting opportunities, the potential risks should not be overlooked. Investors are encouraged to conduct thorough research and consider their investment goals before making decisions. For more insights and updates on gold and Bitcoin, stay tuned to our platform – your guide to navigating the dynamic world of finance.

 

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What are the Penalties for Not Paying My Taxes?

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pexels andrea piacquadio 941555

 

Taxes are a part and parcel of our employed lives, and we must pay them one way or the other. If you delay or fail to pay your taxes or file your tax returns on time, the Internal Revenue Service (IRS) will levy penalties on you. This article will help you understand the types of penalties, exemptions, and tips for quashing your tax debt for good.

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Using the RSI indicators to trade the daily time frame

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The daily time frame trading technique is often considered to be the most boring trading strategy. In fact, the novice traders always try to find quality trades in the lower time frame. In a nutshell, they want to scalp the market to secure a quick profit. But do you really thinking scalping the market is a good way to develop your trading career? The simple answer is no. It’s true that many professionals are using a scalping strategy to live their life but being a new trader it will be really hard. In fact, you will be under extreme pressure most of the time. So it’s better to trade the higher time frame since it will help you to execute a trade with an extreme level of confidence.

About RSI indicators

Before you learn to trade the daily time frame, you need to understand about the RSI indicators. RSI refers to relative strength index and it’s a very popular indicator. Starting from the novice end with the professional traders, everyone uses it to find the overbought and oversold condition of a certain asset. It acts more like a trade filter tool. For instance, if you spot any bullish reversal signal in the daily time frame, you can easily look at the RSI indicators reading to assess the quality of a trade.

Understanding the reading of the RSI

There are two basic things you need to consider when you analyze the RSI indicators reading. If the value of the RSI reading stays near or below the 30 marks, you need to consider the reading as a buy signal. It’s more like the market is in an oversold condition. On the contrary, if the value of the RSI reading stays near the 80 mark consider it as an overbought condition. You need to look for sell signals. Reading the RSI value is fairly easy. Some of the novice traders often make things worse by using in the lower time frame. Always make sure you use the indicator reading in the daily or weekly time frame to get the very best trade setups.

Though Forex trading Singapore is a very popular profession, every few traders actually understand the proper way to use the RSI indicators. This is not a big problem since you can use the Saxo demo account to learn to trade. Try to trade in a different time frame in the demo account and see how the indicators react to the price movement of a certain asset.

Executing the trades

Trade executions based on RSI reading is fairly easy. To do so, you must have a balanced trading strategy. Consider the RSI indicator as trade filter tools. Never think you can make a huge profit just executing the trades based on the indicators reading. You need to use other important parameters like support and resistance level. As a novice trader, use the demo account to create a balanced trading strategy. The starting of your trading career will be a little bit boring since you will have to lose many trades. Losing doesn’t really matter since you will be learning in the demo account. Once you feel confident with your trading strategy switch back to the real account.

Developing your mental stability

Mental stability plays a great role when it comes to the trading business. You can’t make the best division by executing the trades under stress. You need to control your greed and minimize your risk exposure at any cost. At times you might feel frustrated with your trading result but this is absolutely normal. Take a small break and try to rephrase your mindset so that you can find the best trades. Since you will be trading the market with an indicator based trading system, make sure you keep your trading chart clean. Never use more than two indicators because it will make things worse. Most importantly, you will get confused by seeing the different readings of the indicators.

Celebrating Our First Valentine’s Day Married

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Recently, it seems more people are boycotting Valentine’s Day. In fact, businesses have begun to capitalize on it by offering “Galentine’s Day” events or “anti-Valentine’s” activities. Even though it appears many of the people in our generation aren’t a huge fan of the holiday, my husband and I are. This year, we are celebrating our fourth Valentine’s Day together and our first Valentine’s married. Here’s how we are celebrating…

Celebrating Our First Valentine’s Day Married

So, first, we splurged on one another a bit. Altogether, we spent $300 on each other for the holiday, but we don’t get to do that very often and we’ve both been hustling to be able to afford it. On Valentine’s, I’ll be headed to the spa for a couple of hours, thanks to my hubby. His gift from me was his first flying lesson (yay).

On the 14th, unlike many other couples, we won’t be headed out for a fancy dinner or anything extravagant. Instead, we will be hanging out at home. I’m going to make one of Drew’s favorite meals and we are going to watch movies (see my list of frugal date ideas here). I also have his favorite dessert planned. Otherwise, it’ll be a nice, quiet night at home.

Why Celebrating Your Relationship is Important

I know some of you are probably reading this like, “Amanda, $300 on Valentine’s Day, really?” It is definitely a splurge for us both, but something we haven’t gotten to do recently with financial struggles we’ve faced. Also, as I mentioned, we both took on a little side work to be able to afford a little splurge for the holiday.

This is because we both believe celebrating our relationship is important to maintain it. Also, being able to celebrate each other and milestones in our relationship helps us look at the big picture. Instead of focusing on whatever else is going on in our lives, we stop and take a second to just enjoy one another and celebrating us.

So, even if you don’t have much of a budget for Valentine’s (or no budget at all), be sure you take a moment to really appreciate and celebrate those you love. Doing so can strengthen your relationships and help you remember what’s important to you.

Readers, what are your plans for the romantic holiday? 

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How to Save Big Bucks when Car Shopping

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Buying a new car does not have to break the bank. There are ways that you can save money on a new car or a used car. Why spend more money than you need to? These tips will help you to save a significant amount of money on your vehicle purchase.

Before You Get Started

Car dealerships have professional salespeople on board to sell you a vehicle. Professional salespeople know that there is an emotional aspect to any big purchase and they can play into that. A good way to ward off the risk of buying more vehicles than you can afford is to have a good idea of what you can afford and stick to that parameter.

Get in the mindset that you need to be in before you start shopping. Keeping to a budget is essential and budgets matter whether you are buying a car, truck, SUV, van, or bike (8% of households had a bike in 2018 according to the Motorcycle Industry Council, the most ever reported.) Standing your ground when it comes to your budget is essential to a successful purchase.

It Matters When You Shop

One of the easiest ways to save money on a vehicle is to make sure that you shop at the right time of the year, month, and even the right day of the week. There are savings to be had just by shopping at the right time. For example, the best month of the year to buy a car is December if you are focused on saving money. The best time of the month to buy a car is at the end of the month, and the best day of the week to buy a car is Tuesday.

Auto dealerships are like any other business, they have busy seasons, and they have slow seasons. They have busier days of the week and they have slower days of the week. If you can arrange to shop during the auto dealership’s slow time, you can realize savings.

 

Where You Shop

Prices for vehicles will vary a great deal. You can realize some significant savings if you are willing to travel a bit out of the way. Sometimes, even crossing state lines is a solution for saving money on a car purchase. In other words, think carefully about where you shop for your vehicle. If you can save a couple of thousand dollars by driving a couple of hours, it is well worth the effort. Do not assume that the dealership around the corner has the best deal, do your research, using sites like INVOICE PRICING  to find the best quote for the car that you want, and the dealership in your area that stocks it. Dig a little deeper and look a little further, it can be well worth your while!

 

Due Diligence

Car prices can range greatly from one dealership to the next. One of the best ways to ensure you are getting the best deal is to do a comparison of the deals. About 60% of the car buying process for most car buyers happens online. Researching your options online is a convenient way to gather the information you need to make an informed decision.

Today, you do not even need a laptop or a desktop to get your research done. You can use your smartphone. A recent survey revealed that about 59% of respondents report that they prefer to shop on their mobile device and that the ability to shop on their mobile device helps them to decide what retailer or brand to buy. You can take the same route when you are deciding which vehicle to buy and where to find the best saving opportunity.

 

Ask About Discounts

Oddly enough, many people go into an auto dealership and never haggle about prices. Asking for a discount is a great way to save some money. Not all discounts are advertised. No matter what type of vehicle you are buying, you should always inquire about savings. Buying a vehicle is a big investment, asking for discounts is a great way to reduce the amount of investment you must make.

There are plenty of ways to save money on a new or used vehicle purchase. You do have to put a little effort into the process, but it is well worth the effort. Don’t pay more than you have to.

I’ve Gotten a Call About Student Loan Forgiveness – Is It Real?

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student loan forgiveness

Most commercials, calls, or advertisements you’ve seen about student loan forgiveness seem spammy. I’ve been dodging calls like that recently, and I’ve written them off as scams. However, there’s a chance you’re ignoring legitimate chances to reduce or eliminate your student loan payments.

Calls I’ve Received

Recently, I’ve received a number of calls regarding my student loans. I have right around $20,000 to pay back and recently was sent an email to not pay anything until August (this was back in June). The email, which was verified to be Navient, stated there may be some changes to my account and they wanted to extend my deferment by two months. It also noted I may have other repayment options available.

Since then, I’ve been receiving calls that I’d honestly written off as spam calls about student loan forgiveness. As it turns out, they may be totally legitimate.

Navient Lawsuit

Navient has been hit with a number of lawsuits from the Consumer Finance Protection Bureau (CFPB), as well as a number of teachers and state attorney generals. The lawsuits claim Navient failed to do a number of things to help its borrowers pay off their loans. Complaints include the following…

  • Navient has failed to apply payments to accounts on a number of occasions.
  • Private student loan borrowers claim to be deceived by Navient regarding cosigner requirements.
  • Navient officials have failed to inform borrowers of income-driven payment (IDR) plans and instead steered them towards forbearances (usually multiple).
  • When individuals were informed about IDR plans, Navient neglected to give them information about renewal dates for the plan.
  • Credit bureau reporting was done incorrectly.

Navient is accused of a number of other wrongdoings, including persuading borrowers to maintain their loans with Navient, even if they have a lower-interest option. Some borrowers were also wrongfully denied Public Service Loan Forgiveness.

Each of these lawsuits is ongoing. However, there is no real Navient Student Loan Forgiveness.

How to Verify the Legitimacy of Calls

student loan forgiveness

More than likely, the calls I’ve been receiving are a scam. CNBC reported that student loan forgiveness scams were on the rise. Coincidentally, this is also right around the time I began getting the calls.

Oftentimes, these scams claim to be able to provide reduced payments (or forgiveness). During the call, you’ll be asked for your loan ID number. With that, the person on the other end can change your mailing address. This will make it difficult for your loan servicer to contact you about your missed payments.

After you’ve gone months without paying, your loans will fall into default. At that point, you’ve fallen victim to a scam that will be extremely difficult to dig yourself out of. Here are a few ways you can spot a student loan scam fast.

  1. It is a scam if the company offers immediate student loan forgiveness.
  2. If you’re asked for money upfront to reduce your payments, it is probably a scam.
  3. There should be no sale and no pressure to sign up.
  4. You’re probably speaking to a scammer if they ask you for personally-identifying information as well.
  5. You’ll probably be able to see advertisements for the company when you Google them. Always be wary of any student loan company that is paying for advertising.

Does Student Loan Forgiveness Exist?

With that said, there are some instances in which student loan forgiveness actually exists (though it probably doesn’t for me).  If you’re a Navient customer, you may still qualify for student loan forgiveness elsewhere, no matter how the lawsuits are settled.

Here are a few programs that may be able to help.

  • Borrower’s Defense to Repayment Discharge: This program can only help individuals with federal student loans. You also must prove the school you attended misled you in some way, performed an illegal activity, or otherwise committed fraud against you.
  • Public Service Loan Forgiveness Program: You can get your student loans completely forgiven if you work within a qualifying public service job. If this is the route you want to go, you also must stay in the position for at least 10 years to have your loans forgiven. You will still need to make a number of payments before you can have your loans forgiven completely, but you’ll pay far less.
  • Non-Profit Student Loan Forgiveness Program: This program offers complete student loan forgiveness for individuals who work full-time for nonprofit agencies. Like the forgiveness program above, you’ll need to stay in nonprofit work for at least 10 years to qualify.
  • Government Employee Student Loan Discharge: Like the nonprofit and public service programs, you’ll need to be a government employee for at least 10 years to qualify. However, if you are, you can receive complete forgiveness.

Outside of these programs, you can also utilize outside sources to relieve the stress of paying back your loans. For federal student loans, you can call the Student Loan Relief Helpline at 1-888-906-3065. They can help look at your options and set you up with a plan to reduce your student loan debt as soon as possible.

 

Individuals with private student loans can seek out the help of an attorney to negotiate with lenders on their behalf. One company, McCarthy Law PLC, has a good reputation with helping borrowers settle their loans for less than they owe. They can be reached at 1-877-317-0455. If you have issues with your credit or old debt, they may also be able to help.

 

Should You Go Exclusive? The Buyer Agency Agreement

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Are you looking to buy a home in Ontario? Whether you’re looking to buy in Toronto, Hamilton or Kitchener, it’s a good idea to work with a real estate agent. By working with a local real estate agent who knows the real estate market well, you’re more likely to find your dream home sooner and pay a reasonable price for it.

When working with a real estate agent, you may be asked to sign a buyer agency agreement. The buyer agency agreement is a legal document that outlines the relationship with the brokerage. (In Ontario, it’s the BRA , for “buyer representation agreement,” which may be a funny acronym, but don’t let it fool you—it’s an important legal document.) It includes information such as your desired property type, location, commission and the amount of time of the agreement. It also places fiduciary duty on the brokerage to promote and protect your best interests.

Being an agent can be tough. When your agent helps you look for a home, they won’t get paid unless you buy a home with them. The BRA at least guarantees you won’t go behind your agent’s back and use another agent.

Should you sign a buyer agency agreement? In my experience, it’s usually the newer agents who ask you to sign one. When you do, you’re committed to working exclusively with the real estate brokerage for the length of the agreement. If your agent is a rock star, it shouldn’t be a problem. But what if they’re not a good fit? Unless they let you end the agreement early, you’re stuck working with the same brokerage until the agreement expires. If you buy a home with an agent at another brokerage, your first agent could sue both the second agent and you for breaching the agreement.

When you’re asked to sign a buyer agency agreement, think of yourself like the franchise player on an NBA team. Would Kyle Lowry or LeBron James sign the first contract offer put in front of them? I don’t think so. Take time to think it over. If you do decide to sign an agreement, give your agent a trial run. Start with 30 days and see how it goes (signing any longer than three months is nuts!). You can extend it once your agent proves they’re a rock star. Also, make sure the agreement is limited to a specific geographic area and property type (e.g., houses, townhouses, or condos).

Check with the regulator in the jurisdiction you’re buying in for the rules on buyer agency.

 

Brought to you by Sean Cooper

Financial Tips for Young Adults

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Chances are, you didn’t learn much in school about how to manage your money once you started working and living on your own. Now that you’ve got this responsibility on your plate, it’s probably time to educate yourself about living within your means and preparing for any financial difficulties that may come your way. A good place to start is with these 5 simple tips to help you manage your money as you step into adulthood. [Read more…]

Can You Talk to Your Spouse’s Collection Agency?

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Talk to your spouse's collection agency

As you know, I recently got married. My husband and I have had anything but “normal” for the first few months of marriage. We’ve moved, had a few job changes, moved again, and now we are finally ready to refocus on paying off our debt. Hubby doesn’t like to call and talk to anyone on the phone when it comes to finances, which got me wondering on how I can help. More importantly, I needed to find out if you can talk to your spouse’s collection agency.

Can You Talk to Your Spouse’s Collection Agency?

Many people would read that and say, “make him do it himself.” However, in our marriage, it is important we both support each other in the areas we aren’t super comfortable in. For me, he takes care of in-person meetings and anything we have to take care of face-to-face. I take care of bills, most of the finances, and anything we need to make calls about.

So, the answer is yes, you can talk to your spouse’s collection agency. As far as collections are concerned, a spouse is the same debtor. You may even receive calls about your husband or wife’s debt without being asked to.

No collection agency is allowed to disclose information to any other third party without consent. To get that, you will need to give verbal and/or written consent to the collection agency for the third party (friend, relative, etc.).

Some additional information may be needed to verify you have consent to talk to the collection agency as well. In some cases, they will ask you to set up a verbal password for the phone. Other times, they will ask you to verify the account holder’s Social Security number, phone number, account number, or other identifying information.

Managing Debts Together

Most of our debt is in joint accounts (except for my student loans). For the most part, I draw up the budget, and plans for paying off debt each month. My husband has a certain amount of “play” money that he uses for whatever he’d like, as do I.

When it comes to managing money together, that is what works best for us. I think it is different for every couple. Finding what works for you and your spouse is what is important.

How do you and your other half manage money together? 

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February 2023 Update: Improved Credit Scores and More Progress

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February was a great month for us. We are getting situated with my husband’s new job as well as focusing on improving our health – physically, mentally, and financially. We made progress in all of those areas last month, which feels SO great. Here’s our February recap…

Our Credit Scores Went Up!

One of the best things about the debt freedom journey is watching how paying off debt will help you improve other areas of your life too. Our credit scores have gone up, especially within the past two months. At the beginning of the year, both of us stood in the “poor” area of the credit gauge and we’ve now graduated to “fair.”

There is still a lot of progress to be had, but overall, we are super proud of this progress. Not to mention, being able to improve our credit scores can help us land a consolidation loan (which is something we’ve been discussing, especially for my pesky IRS debt).

February Debt Update

As always, at the end of the month, I liked to give you all an update on the numbers. In January, our debt counts looked something like this…

  • My Car Amount Owed: $20,217
  • Credit Card Total For Both: $487
  • Student Loans: $24,362
  • Matco/Snap-On: $6,673
  • Amount in Collections: $679

Overall, we put about $1,600 towards debt payments in February. At the end of the month, here are our updated numbers (with interest accounted for)…

  • My Car Amount Owed: $19,729 (Under $20K!!)
  • Credit Card Total For Both: $455
  • Student Loans: $24,352
  • Matco/Snap-On: $6,243
  • Amount in Collections: $679

Accounts Being Paid Off!

One of the biggest things we are looking forward to in March (outside of our first wedding anniversary) is paying off yet another account. This account, once it is paid, will free up an extra $106 per month. While that isn’t a ton of money, it will allow us to pay off our credit card fairly quickly. Having our line of credit open will help us further improve our credit scores as well.

Then we will switch our focus to what we have in collections and get that paid off. Because those items have the highest impact on our credit, we’d like to focus on those. In about two years, our goal is to be in a place financially where we may be able to start looking at homes to buy.

Once collections are paid off, we will refocus on paying his tools off, student loans, and then our car loan. By July, we hope to double our monthly payments towards debts ($3,200 per month). Doing that will help us pay it off even more quickly.

Readers, where are you in your debt journey? Let’s chat!

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