Should You Merge Your Finances After Marriage?

Generations ago, merging finances is not a problem. Maybe because before, the man is the one expected to work while the woman stays at home, managing the finances. Read More: 7 Investment Tips for Newlyweds Now, because of many complicating factors including Filipino families struggling to provide the needs of the family, equality of rights and responsibilities, and up to the extent of issues regarding men’s ego and women’s hormones, both parties need to work and will have each of their own sources of income. What comes after is the real deal. So should married couples merge their finances? The short answer is ‘Yes, but not all’. Here’s why: There are actually different answers as different solutions work for different couples. For instance, some people get married older than the majority. Then these couples or one of the two may be financially-established already so merging finances might seem like too much trouble, especially if there are no prenuptial agreements. Generally, it all depends on where you are financial as individuals – how much you trust each other, and how well your spending and saving habits blend. Let’s trim that out. Table of ContentsOn Trust…On Merging Accounts…On Merging Some, But Not All…On Making the Decision… On Trust… Blending your accounts doesn’t equate to trusting your partner or not doing so means you don’t trust them. Before you even think about marriage, one of the big questions is how well you trust your partner to manage your finances. If you don’t at all, or if you worry that your partner will send you…

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Beautify Your House on a Budget

They say that no matter how unattractive the house is, as long as there’s a family in it, it’s already home – but who wants to say ‘No’ to a beautiful house? We know there’s always an itch in you to change something in your house – even for no reason. With a little budget and meticulous research, you can make your dream place possible. Start with these steps: Table of ContentsLiving RoomBath RoomKitchen and Dining RoomBedroom Living Room Make your sofa set the centerpiece of the room. Instead of buying expensive jars and tables, invest on a good sofa and enhance it with throw pillows with different sizes and covers.  Create an artsy look by hanging pieces of affordable frames of varying sizes with your favorite portraits. Adorn your windows with vibrant curtains that will make your space in proper and natural lighting. Choose colors on your paint to transform your space to a modern look. If you have more on your budget, buy a carpet. Bath Room Spruce up your bathroom sink by placing a trendy fabric around the pedestal sink so as not to expose much of the plumbing. Put a small plant on it – choose plants that grow well on moist areas like lilies and ferns. If you also like it, embellishing a shower curtain can give your bath room its own personality. Kitchen and Dining Room If you have a small kitchen, go for hanging racks and open shelves to be space-saving. Dress up the chairs to give a homey, personalized look without blowing your…

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Money Tips for Single Parents

Most people say that the hardest job you’ll ever have is to become a parent. It is not just a desk job that lets you work from 9 to 5. You are at this job 24 hours a day and 7 days a week. And it’s ‘double the trouble’ when you have to do it all alone. Read more: Single? 7 Awesome Ways to Spend Valentine’s Day Here are some of the easy-to-follow saving tips for single parents like you: Table of ContentsSavings for child care expensesShop onlineTrack income and expendituresTrim the expenditures for basic necessitiesGet insurance coverage for all your needs Savings for child care expenses Before you hire a babysitter, try to ask help from friends and relatives if they can take care of your kids while you are away from home. Raising a kid has a budget to consider like the babysitter fees. Babysitters are expensive nowadays, and trust is the biggest issue to consider. Shop online For hassle-free shopping, you can shop items from the Internet. You may avail the items you need on discount when you buy online than on physical stores. You don’t even need to waste gas or take a long trip just to get to the store and buy the stuff you want. You just need to complete the payment transaction by using your credit card. Read More: What is a Solo Parent ID and How Can I Get One? Track income and expenditures Knowing what, where, when, why, and how you spend your money can help you save. Are you the type of…

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Financial Advices We Learn from the Bible

Many believed that the Bible teaches us to be anti-money or anti-rich, but if you devote your time reading through it, it will show all of us that we really need to have our finances aligned. Here are verses that will enlighten us on money management: Table of Contents1 Timothy 6:9-11Proverbs 3:9-10Proverbs 13:11Proverbs 21:5 1 Timothy 6:9-11 “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.” We often hear “Money is the root of all evil” but we forget the phrase from the verse, “the love of money” and its true context. Money could be the root of all evil but more so of the lack of it. Many people are trapped into the temptation of excessive money and lavish lifestyle, more than what really one needs. With that, people get the impression that money is always bad – it’s not. Money should be an instrument to give you and your family a good life and help other people to feel the same way. Proverbs 3:9-10 “Honor the LORD from your wealth and from the first of all your produce” This means a proper allocation of your wealth. Obligate a portion for your needs, a portion for your savings and most importantly commit a tenth of your income to the Church or your place of worship. Also, it is said that the more money you make, the more you should give. The more spend on yourself, the more you should give for…

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Friday night on a budget

After a stressful week of work…Finally, Friday. You can still enjoy a Friday night with friends even if you don’t have enough funds for it or it’s not #PaydayFriday just yet. Count the ways: Table of ContentsDon’t stay late at work.Arrange a house party if possible.But if not possible, be wise on your location.Take dinner first.Share costs.Don’t get wasted drunk. Don’t stay late at work. If you prepare for work, prepare also for your Friday night happenings. Start your day right, do what you have to do within the day and finish everything as efficient as possible. If you leave early at work, you don’t have to worry on commuting in your work jungle. Also, less expensive as you don’t have to rush and take a cab. Nothing important can happen before Monday anyway so clean your desk in your mind, and enjoy your Friday night! Arrange a house party if possible. If you have a place, it’s much cheaper and more comfortable at someone’s home. You don’t have to worry that much on your alcoholic behavior, plus food and drinks are more likely to be much cheaper compared to the bars and restos. It’s also pretty laidback because you can relax better, vomiting is not so much of an issue, no one will judge you on public display of affections. And the best part is that you can stay late at night or even until the morning without worrying on the bill and going home while you’re drunk. But if not possible, be wise on your location. Since you…

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5 Reasons Why Pinoys Overspend

Table of Contents1. Bandwagoning2. Cultural Traditions3. Love for Brands – Mostly Foreign Brands4. False Sense of Entitlement5. Emotional Spending 1. Bandwagoning Among all documented forms of groupthink in behavioral science, the bandwagon effect is the most evident in Philippine society. Anything that is making a lot of noise and reaching the headlines in other countries is guaranteed to trigger a buying frenzy among Pinoys. The most recent trends that have caused a bandwagon effect in the country are Cookie Butter, cronuts, selfie pods, and LoomBands. 2. Cultural Traditions There are practices, rituals, events, and occasions that Filipinos religiously follow. Sometimes even when the times are tough and some practices do not fit our budget, we overstretch our finances just to be able to adhere to what our forefathers have instilled in us. For example, it’s perfectly fine to give back to the Church or whichever religious organization we belong. However, some people who are not careful with religious offerings end up hungry, financially stressed, or in debt. In this case, faith is not measured by how much money you’re giving. If you can’t afford to tithe 10 percent of your salary, then don’t. Give what you can, and make up for your shortcomings by doing good deeds. It is okay to follow family and cultural traditions, just remember to align your spending with the amount you can only afford. 3. Love for Brands – Mostly Foreign Brands Let us not turn a blind eye on our love for brands – especially for foreign brands. Surely, no one wants to admit…

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Reasons Why You Should Start Saving Today

It’s a fact that each and every one of us needs money to survive. So it’s also equally important to save. Saving money allows us to be ready for anything life may bring. It’s most essential for emergency cases but it’s also necessary on important and events whether expected or unexpected. If you want a more specific reason to start saving, here are some: Table of Contents1. Emergency Situation2. Major Life ChangesWeddingMaternity3. Education4. Investments5. Retirement 1. Emergency Situation Have you imagined yourself being in a situation where you need immediate cash to address a certain problem but, you don’t have enough budget, or worse, you zeroed out your savings? Gathering money on a short notice is nothing but financial and emotional stress. 2. Major Life Changes There are events in life that are foreseeable, if not, planned. The earlier you’re going to save for these kinds of events, the better. Wedding Weddings of any kind are expensive. From your clothes to the reception and church, you will need money from it. Or, that would force you and your “Spouse-to-be” to settle for the kind of wedding that isn’t ideal or not the kind that you really, really want. Also, what’s even more expensive and what you need to be more prepared about is your life after that day. The marriage itself – your everyday expenses, you are something you should be prepared on. The lowest wedding expenses could go is around PHP 100,000 Maternity It’s agreeable that sometimes pregnancies are unplanned. But still, it cannot be considered as an emergency…

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5 Reasons Why You Will Retire Poor

The average life expectancy in Asia is 75 years. Retirement age is on average at 60 years. That leaves 15 or so years for you to enjoy your pension funds—or will you? Do you honestly believe that your SSS or private pension fund would be enough to sustain you after retirement? Or are you picturing a more comfortable, even a bit of a luxurious life, when the time finally comes? Whatever you picture your lifestyle would be when you retire, you need to ask yourself if you’re doing something right now that helps you attain the kind of future you want. It may be that you’d have children who will assist you in your retirement, but you might also not want to burden them when you get old. It’s up to you to prepare for the future and there’s no better time to start than now. The average Filipino worker has a tendency to live payday to payday; but you can end this cycle. You think it’s a bit too early to be thinking about retirement—and you’d be wrong. If you want a comfortable retirement for yourself, here are some problems you should start dealing with starting today: Table of Contents1. Underestimating Costs2. No Medical Emergency Plans3. Spending Big4. Forgetting About Taxes and Fees5. No Investment Guts 1. Underestimating Costs After retirement, you’d be getting a steady stream of cash flow aside from pensions and social securities. Some might think this is enough, but it isn’t. The cost of living in the country is steadily increasing. The prices for groceries,…

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Life and Money Lessons You Can Learn from Game of Thrones

  Table of ContentsOn being money smartOn saving moneyOn paying debtsOn having a contingency fundOn your real value without moneyOn how money affects peopleOn freedom On being money smart On saving money On paying debts On having a contingency fund On your real value without money   On how money affects people On freedom

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Are You Willing to Spend your Personal Emergency Fund for Others?

Pinoys have been branded with extended family ties – we take into account the responsibility of taking care of our families – our mothers, fathers, brothers, sisters, lolo, lola, auntie, cousin, nephews, friends and so on – the list is just unending. For someone who has financial plans and even an intact emergency fund, the urgency of a financial emergency of a loved one wouldn’t be dismissed, but the helper’s financial plans may not materialize at all after helping out. If you are one of these helpless people with a big heart, here are some ways on how to cope up other people’s money emergency: Table of ContentsConfirm the emergency details.Put on some limitations.Offer a help on financial management.Re-validate your priorities and make some adjustments.Encourage them to openly talk to you about money matters. Confirm the emergency details. You have all the right to make sure that your money will be really used of an emergency situation. If a loved one approached you, ask about the details and make sure that the situation is really an emergency. If your niece is asking for a loan for a One Direction concert, then I guess that doesn’t qualify for an emergency. Read more: Reasons to Build an Emergency Fund (And Why It’s Different from Savings) Put on some limitations. Helping others is a great act, but if your loved ones are abusing you, then I think it’s time for you to harden your heart a little bit and be stern. If he or she have come to you several times already because…

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Saving Tips When Shopping with Your Kids

One enjoyable family weekend bonding is grocery shopping. It can be nice to bring along your kids to the supermarket to involve them in at least the most fun activity of the household. However, will the level of fun be the same when their impulsive wants and tantrums cost you more than your budget? It could be challenging! Amidst budgeting and grocery list, you are more prone to overspend whenever you are with your kids as your grocery bonding could be an over-stimulating experience. Here are ways to make the process smoother (a.k.a staying sane): Table of ContentsExpress Your PurposePick OneBreak the Piggy BankInvolve Them on Grocery Listing and ShoppingLet Your Kid Decide Express Your Purpose Give your kids the reason why you are going out of the house. Let them know in advance that the only purpose of your trip is to buy food and grocery supplies enough for the week or the month. Make sure you prepared a list so you could make the trip as quick as possible. Educate them on what to expect especially on how you want them to behave in the supermarket. Pick One If you think you can’t handle the tantrums, allow them to think of one item in advance before conquering the store. This will give you the idea of the cost beforehand and be able to bargain for other options if it’s not within the budget. This will refrain your child from wanting another thing because he should stick to your agreement. Break the Piggy Bank If your child owns a…

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Are You Financially Ready to Get Married?

Entering marriage will bring drastic changes in one’s financial life.  It’s not  just about the wedding but the days, months and years after. How will you be able to survive after the lavish wedding ceremonies? Aside from wedding preparations, other expenses that need  taking care of are educational plans for your future children, health insurance, and retirement. Read More: 7 Signs You’re Not Ready to Get Married Yet Here are some money-saving tips before you say ‘I do’: Table of Contents Plan aheadInvest in yourselfHave stable incomePay all your debtFinal Thoughts  Plan ahead There will be a major financial change in your life from the day you marry your better half. You and your fiancé should talk about and be open about your financial plans together because from now on, you will deal with a lot of financial decisions that will need consensus. Take your time on acquiring more assets while you’re still single because you have few obligations now. This will help you as you go ahead with your life as a family man (or woman). Manage your income and assets wisely, set goals and specific action plans. Planning is an important step in improving your financial security and stability as you enter another stage in your life. Invest in yourself Make sure to improve your skills, education and experience as these will be your personal assets no one can take. These assets can help you attain financial stability as you venture into marriage and family life. Look at yourself as an asset by investing in yourself as it will pay off in the…

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How to Avoid Being Broke

Making your financial situation under control is like finding the right balance in your life. And as any other things that life throws at us, finances doesn’t come as the easiest and most convenient to manage. There always comes a time wherein you’d get broke and cash-strapped and you have no other option but to borrow money. Read More: 5 Mistakes You Will Regret in Your Lifetime We know it’s easier said than done, but it’s better for you to be reminded on how to avoid pitfalls that will make you suffer financially: Table of Contents1. Re-align your mindset.2. Modifying your lifestyle.3. Manage debt wisely. 1. Re-align your mindset. The most important factor to recover from an awful situation is to change your mindset. If you keep on instilling in yourself that it’s hard for you to recuperate – that you don’t want to change your situation – it will really be hard for you. Be positive about your situation plus have a corresponding plan and action points to back it up. Worrying can only attract more negativity and will lead you to nothing. 2. Modifying your lifestyle. The golden rule about saving is to spend within your means – it is the direct reason why people get broke. Here are some scenarios: A high cost of living – this means your home and all your utility bills. Experts say that you should only spend around a one-third of your income on these kinds of expenses. If you’re spending more now, try to make some changes by finding a roommate, or…

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8 Money Tips for Commuters

Commuting has been the best way to transport in and around the metro for small- to medium-wage earners. Commuting options are increasing nowadays to ease any possible problems of the commuters. Try to play around with the options and get the best and cheapest ways when traveling. Here are money-saving tips for all your dedicated commuting public: Table of Contents1. Walk, walk, walk.2. Take the train.3. Avoid Rush Hours4. Arrange Items in your Bag5. Ask a Friend6. Shuttle Service and Car Pooling7. Always Have your “Barya” Ready8. Avoid Cabs 1. Walk, walk, walk. There’s no thriftier way than walking. If you’re just minutes away from where you’ll go and you’re early, take a walk – it’s free and healthy. After all the health (and wealth) reasons, boost your vitamin D. It only happens when you’re touched by the healthy morning sun. 2. Take the train. Yes, these trains are jam-packed every day. But, factors such as traffic, time and money saved can make you ride everyday, like most commuters in the Metro. The maximum amount you pay is just PHP15 on the farthest station. Plus, you can still have your last ride when you buy and MRT/LRT Stored Value Card worth PHP100, even if it only has PHP1 left. 3. Avoid Rush Hours Don’t ruin your day with the long queues and start your day on a positive note. Sleep tight, wake up early, go to work earlier than usual and for sure, you will save time and money by avoiding things that will stress you out the whole day….

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6 Most Fulfilling Jobs in the World

To some people, their job is their life. They don’t necessarily need to get paid six-digit figure salaries, but still enjoy their line of work. Sometimes, these people work as volunteers, working for the love of the job instead of for the money. These are the kinds of people who are worth looking up to, who are role models, and who serve as an inspiration. The jobs they are in don’t necessarily reward them with riches and luxuries, but they are rewarded with something beyond the materialistic. Table of Contents1. Red Cross Volunteer2. UNICEF Ambassador3. Social Worker4. Teacher5. Environmentalist6. Human Rights Officer 1. Red Cross Volunteer Red Cross volunteers work part time or full time and are often sent to places in their home country or around the world. They receive training for first aid and other important skills for rescue and relief. Most Red Cross volunteers agree that their job gives them the greatest satisfaction when they’re able to make a difference and are able to help out people in need. 2. UNICEF Ambassador It may not be easy to become a UNICEF Goodwill Ambassador, but working for UNICEF itself is fulfilling already. Those who work with UNICEF may have a long-term or short-term occupation involving education, nutrition, or medicine, all of which are geared towards improving the lives of children around the world. A lot of UNICEF workers find the job challenging, but extremely satisfying. How can it not be? You see the smiles of children at the end of the day; that in itself is a fulfilling…

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Should You Lend Money to Friends?

The short answer is “Yes, if you can.” However, be mindful of the following consequences. When a friend or a family member needs to borrow money from you, the feeling can be overwhelming especially if you know that you can help. But if things do not go as planned; payments are delayed and when you simply cannot get your money back, your relationship with that person might be at risk. Lending money to friends can be unmanageable and cumbersome. If they come to you now to borrow money, here’s what you should do: Table of ContentsAsk if they need your helpOffer alternativesBe mutually clear about your termsUse your head – and your heartDon’t let others knowThink of it as a gift Ask if they need your help It took them a lot of pride to come to you even if you’re friends and related to each other. It will take them even more pride to ask. You don’t like more of that so take the chance to ask what they need. Be sure that there is a sense of necessity and urgency in the situation. Offer alternatives As much as possible, don’t lend money. Instead, come up with a great alternative like a legwork to something or some groceries, depending on what they need. You can also provide them with income generating opportunities that you know of. Explain the burden of having a loan. Be mutually clear about your terms Now, if you’re left with no other choice but to lend, treat it as a formal business transaction. Do not…

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RCBC MyWallet Visa Cards

If you have no intention to open a deposit account but would like the convenience to avoid carrying cash around while maintaining your purchase ability, the RCBC MyWallet Visa Cards may be just what you are looking for. Read More: Cash Advance Of Credit Cards: To Do Or Not To Do? Table of ContentsWhat is a Prepaid Stored Value Card?How does it work?How to load the card?Where does it work?What transactions can I perform with the RCBC MyWallet Visa card?Why will I like it? What is a Prepaid Stored Value Card? The RCBC MyWallet Visa card is a reloadable multi-purpose prepaid stored value card. It is one of the leading prepaid stored value cards in the industry. A prepaid stored value card provides the cardholders with the convenience of making cashless purchases without going into debts, as the cardholders will never be exposed to the risk of overspending, since the prepaid stored value cards do not provide overdraft facility. The maximum amount a cardholder can spent per transaction is equivalent to the fund on the card. How does it work? Your spending is limited to the amount you load for the card. Each time you use your card, the purchase amount is automatically deducted from your MyWallet Visa card balance. To activate your RCBC MyWallet Visa Card upon purchasing, you need to deposit P120 while P100 is readily available for withdrawal.  In addition, there is no minimum maintaining balance. The only restriction is on the maximum ‘topped-up’ amount. Each cardholder can only load a maximum of P100,000 per month regardless of…

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Postpaid Bundle Face-off: Smart’s Flexibundles vs. Globe’s mySuperPlan

Over the years, Smart and Globe, two of the country’s biggest networks, have been consistent in providing its consumers with promising packages when it comes to their postpaid plans. The Big Two never fail to satisfy its million subscribers with new promos and postpaid bundle offers that would fit daily communication needs. Read more: 5 Free Mobile Apps Every Driver Must Have Aside from better SMS and call promos, mobile internet has now become the third platform for subscribers. Smart and Globe give their subscribers the power of three platforms in a variety of bundles. Smart’s Flexibundles and Globe’s mySuperPlan offer flexible features wherein subscribers can mix-and-match features depending on needs and budget. Smart Flexibundles matrix Smart gives its subscribers the freedom to choose all the features that the subscriber needs and certain price queues. Smart didn’t limit the promos with its network alone. There are deals where subscribers can text and call other network subscribers. Calls Unli Talk/ P500.00 – unlimited calls to Smart, and TNT for 30 days Trio Talk Plus 300/ P300.00 – 300 minutes calls to Smart, TNT, Sun Cellular, and PLDT landline for 30 days All Net Talk/ P250.00 – 80 minutes of calls to Smart, Globe, and Sun for 30 days Sun Talk/ P99.00 – 50 minutes calls to Sun for 30 days Text Unli Tri Net Text/ P350.00 – Unlimited texts to Smart, TNT, and Sun for 30 days All Net Text Upgrade/ P350.00 – 3,500 texts to Smart, Globe, and Sun for 30 days Sun Text/ P99.00 – 1,000 texts to Sun for 30…

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How to Survive Summer Without an Allowance

Summer is here! After experiencing two full months of cold days and freezing nights in the Philippines, who’s not excited to hit the beach and bathe under the scorching sun? While almost everyone is busy calling their friends and planning vacation itineraries, it’s not that simple for everyone to commit to an out-of-town or out-of-the-country trip. Who doesn’t need money for fun? Students get the biggest slice of the pie when it comes to having a longer summer. However, students are also the ones who have minimal financial capacity because there’s no source of income. Asking mom or dad to fund an eco-trip to the Underground River in Palawan or a sleepless weekend in Boracay might happen unless your parents have already entrusted you with a supplementary credit card. But that’s just one weekend out of at least two and a half months of summer vacation if your next school year will start in June. What can you do to survive the summer season without cash? Table of ContentsGet a summer jobSell your old stuffSet up a small business in your neighborhoodLessen out-of-town trips and do more house partiesMake it a family affairFinal Thoughts Get a summer job Getting a summer job will not only help fund your much-awaited weekend in paradise. It will also give you an edge in terms of learning how to survive in the real world. Leveraging your skills while you are young is a great step to building the groundwork for your career. Ask around for any vacancies. Spend a few hours searching the web, but make…

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5 Things You Should Know As a Day Trader in Stock Market

Everyone who starts to trade whether new or old learns every single day one certainty in life: everything is always in constant flux. We are all constantly changing.  Prices fluctuate every second or millisecond or nanoseconds.  You get what I mean.  Couple this with the stress of trying to make ends meet, and to make a good living out of one’s trading portfolio and you will find yourself with 99% of the Filipinos out there who struggle in this endeavor. “How do I actually earn from the markets if I want to be a self-directed trader or investor?” Read more: How to Pick Stocks in PSE: Helpful Tips for Beginners Table of ContentsThings I Learned in Investing at Stocks1.) Be Completely Fine with Imperfection; Expect to Be Wrong.2.) Learn to Crawl3.) Be an Eternal Newbie.  Become a Beginner Again and Again.4.) Empty Your Cup.  Tabula Rasa5.) Be Kind to Yourself and Embrace Your Weirdness.  Things I Learned in Investing at Stocks 1.) Be Completely Fine with Imperfection; Expect to Be Wrong. Do not beat yourself up because you have a few extra pounds around your waist and do not beat yourself up because you didn’t get to buy at the exact perceived support level before it bounced.  Do not hate yourself for failing to sell before the stock has fallen.  Be completely fine with taking the next price which can be one to two percent higher or lower.  No one is perfect. Be perfectly imperfect.   Most traders I’ve had the pleasure to meet, work, and talk with, whether they’ve been trading the markets for twenty…

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