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Asking for a Raise – 3 Easy Steps

Asking for a Raise – 3 Easy Steps | Personal Finance | Scoop.it
It can be intimidating to ask for a raise.  And it can be more difficult to do when jobs are scarce and unemployment is high. But put yourself in your boss’s shoes for a minute.  She knows that her company’s real assets are her people.
Daily Money Bucket's insight:

The best way to achieve a raise and/or a promotion is to keep proving your worth to your employer. Every day make sure you provide them with much more value than they pay you.

 

Lead them to the position where they would be an idiot to let you go elsewhere...the increase in pay should follow. And if it doesn't, take your value creation skills to an employer who properly appreciates them.

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Your Personal Inflation Rate Isn’t The Same As The National Inflation Rate

Your Personal Inflation Rate Isn’t The Same As The National Inflation Rate | Personal Finance | Scoop.it
Crazy Inflation
Over the last couple of years you might have heard that inflation has remained relatively low. In general, it is assumed that over the long run inflation, or the rise in prices of products and services, will average 3%.
Daily Money Bucket's insight:

Every month, the government in most countries publishes an official inflation rate which shows how much prices are rising. This rate is then used for various official decisions.

 

However it's important to remember that everyone has their own personal inflation rate according to the composition of goods and services that they buy.

 

This can lead to interesting possibilities such as inflation arbitrage, where you make spending choices which keep your personal inflation rate below the speed at which your income rises.

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Is It Legal to Sell Lottery Payments?

Is It Legal to Sell Lottery Payments? | Personal Finance | Scoop.it
The following is a guest post.
If you’ve won the lottery, congratulations are in order. However, you might be feeling a little less than successful, particularly if you are now receiving annuitized payments.
Daily Money Bucket's insight:

This is a really original article about whether it's legal to sell the future income streams from a big lottery win.

 

But having said that, as it only applies to lottery jackpot winners, it's not a situation that too many people will have to consider.

 

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Thinking of Investing in Gold? Here’s what you Need to Know

Thinking of Investing in Gold? Here’s what you Need to Know | Personal Finance | Scoop.it
Photo credit: deviantart
Since time immemorial gold has been considered a safe haven against sweeping global economic uncertainty.
Daily Money Bucket's insight:

Gold makes a great hedge against inflation or total economic collapse. Having 5-10% of your assets in physical gold should make it easier for you to sleep at night. Ultimately, it depends how much faith you have in political leaders and the central bankers.

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“Bitcoin is … money” — judge says SEC can target alleged Ponzi ...

“Bitcoin is … money” — judge says SEC can target alleged Ponzi ... | Personal Finance | Scoop.it
A judge ruled the SEC can pursue an accused Ponzi schemer who used Bitcoin because the crypto-currency is a form of money. This should come as no surprise -- and nor does the decision give any new powers to the SEC.
Daily Money Bucket's insight:

Governments around the world are terrified of crypto-currencies. If they lose control of currency they won't be able to defraud the people who hold that currency through inflation and debasement. So expect the anti-crypto-currency rulings and legislation to continue.

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How to Live Well Without Obsessing About Money

How to Live Well Without Obsessing About Money | Personal Finance | Scoop.it
“Come on. We’re going out tonight. You and Rebecca meet us at Dave & Buster’s. We’ll be there at seven.”
“We can’t.”
“Why not?”
You’re at a loss: You don’t want to admit you’ve blown your budget for this month and have no play money to go out with.
Daily Money Bucket's insight:

One of the best ways to avoid this problem is to take part in activities that don't cost (much) money.

Once you understand that the amount of enjoyment is not proportionate to the amount you spend, it's much easier to enjoy a low-cost life without having to worry about money.

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Financial Gain Without Pain

Financial Gain Without Pain | Personal Finance | Scoop.it
How Much Do Americans Pay in Credit Card Interest?
According to the most recent Federal Reserve statistics, Americans’ outstanding credit card debt totals $850 billion.
Daily Money Bucket's insight:

If you have credit card debt that carries an interest rate of 15%, by the time you take income tax into account, each $1 of the principal debt that you repay is equivalent to a 20% return on your investment. You won't find that level of guaranteed return very often.

 

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How Lifestyles Changes Make a HUGE Impact on Your Finances

How Lifestyles Changes Make a HUGE Impact on Your Finances | Personal Finance | Scoop.it
If you keep on doing what you’ve been doing, you’re going to keep on getting what you’ve been getting.
If you keep on spending how you’ve been spending, your bank account will always remain the same.
If this is good, then kudos to you.
Daily Money Bucket's insight:

According to Einstein, the definition of madness is continuing to do the same things and expecting different results. So if you want to improve your finances, you have to make changes to your life. This article suggests a few ways to go about it.

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Save or Pay Off Debt First-8 Factors to Consider

Save or Pay Off Debt First-8 Factors to Consider | Personal Finance | Scoop.it
Deciding whether to save money or pay off your debt can be a tough decision. Here are some guidelines to help you make the decision.
Daily Money Bucket's insight:

Repaying debt is always a great investment. It's the equivalent of receiving a tax-free investment return equal to the rate of interest on the loan. There's also the psychological relief at knowing you no longer own money to anyone. You can't put a price on that.

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