How To Move Money After The RV

How To Move Money After The RV

By Muhammad Ali

This article I wrote for my group here in Malaysia.  Most of the information pertains to Malaysians and Singaporeans, however, the general concept of moving money can apply to anyone, anywhere.

For some of you, after the RV, you will have hundreds of millions of RM (Ringgit Malaysia) or Dollars and for security reasons you may want to park your funds in several banks in several countries.

For example, you may have an account in Malaysia, Singapore and Brunei, as well as have an IBC (International Business Center) in Labuan.

As the English express goes, don't put all your eggs in one basket.

Diversification of your money in other countries or in other currencies (as in multi-currency accounts) may be a very good thing to do.

If you kept all of your money in Malaysia Ringgit and the Ringgit takes a dive and drops considerably in value, this may affect your net worth.  So having money in Canadian Dollars, Australian Dollar, Singapore Dollar etc., might be a wise thing to do.

I will particularly focus on those living in Malaysia and Singapore.

As it is today, banks from one country to another do not share account details with each other, unless you are an American citizen or you have committed a crime.

So what this means, if you are in Malaysia, and you park some funds in Singapore, your Singapore bank will not reveal nor inform Malaysia.

So that's the first thing as to why we want to put money in other countries.

Now if you have an account in Singapore and you want to move money to Malaysia or Canada or any other country.  Here are several ways you can do so.

1. Bank to bank transfer.  From your account in Singapore, you can transfer to any bank account in any country.

2. When you open your account in Singapore you will receive a debit/ATM card, in which you can withdraw funds from any ATM in any country of the world.

3. You can use the money changers to move money across the border.  Let's say you have money in Singapore and you want to move $250,000 SGD to Malaysia.  Go to a money changer with the cash or transfer to their bank account and tell them you want to pick up the money in Malaysia. 

The money changer will give you a pick up code and the location in Malaysia to pick up the money.  So then you travel across the border hassle free and then you can pick up the money in Malaysia.

 4. You can take out large sums of money from Singapore ATMs and then just drive over the border with the cash in your pockets but do not travel over via any public transport methods for example, bus, train, flight as the money will be detected thru travel scanners.

Ok, why am I sharing this information, as I said, for some of you, you will have hundred's of millions of RM or SGD after RV.  You will be considered ultra-high-network individuals.   You need to understand and keep all your options open and make it part of your exchange plan.

 Taking money across the border is usually limited to about $10,000 USD for most countries.  Singapore it is $20,000 SGD.  If you are searched and found with money above this amount you will be charged and/or fined for not declaring the amount you have brought over the legal amount.

Why do we not want to declare?  When we have nothing to hide?  That is the question.  The reason why we don't want to declare is because at the checkpoint or border they will make you fill in a form with all of your personal details, name, passport number, home address etc. 

This information will be put into a computer system and printed paper versions left in the immigration systems and office with public access to your personal details by immigration officers.

So this is why, if we want to move money, we do it without declaring via the above methods.

Now let's say it's already RV and you want to take you 100 notes bundle of Iranian Rials (10 million Rials) over to Singapore to exchange at HSBC Singapore.  

But you are scared to travel with that large amount of money.    Or for some of you guys who are overseas and I am holding your currency and you want to come to Malaysia and then bring your currency back to your country to exchange.

Now this becomes difficult because the value of the Rial now has increased and way above the $10,000 limit to fly back with.

There is another solution to this problem.  You would take your currency to a local bank (in Malaysia) and ask to exchange the currency to SKR.  (Safe Keeping Receipts)    the bank will exchange the currency at the current rate but not deposit the money into your account but will give an SKR for the amount.

Now you can travel safely with the SKR, these are just paper receipts and non-trackable at the airports or border crossings.

When you arrive to your home country you take the SKR to your bank, and they will convert it to your local currency and deposit to your account.

So this is how you can move your Dinar, Rial or Zim after the RV, without any worries at the border.

I hope my article brings awareness and helps you to if you plan on moving money across borders.

Any questions please send me an email to currencyexchangeplanner@gmail.com

 I am the creator of the Currency Exchange Planner, an excel spread sheet, which is the most advanced and affordable planning tool for the Dinar Community.

Try the FREE Download version to test run or BUY the full version for a One-Time low price of $25.  This includes free updates in the future.

My website is www.CurrencyExchangePlanner.com

Thank you so much,  Muhammad Ali

https://www.currencyexchangeplanner.com/article-5-how-to-move-money

.Private Banking and Private Bankers

From the Dinar Recaps Archives originally posted on 6/4/2019

Philanthropy 101

Giving money away can be just as complicated as making it.

Private bankers help spread the wealth.

Private bankers help clients to guard their wealth; they also hold their hands when it’s time to give some of it away.

“Many times clients are interested in donating, but they don’t really have the people to sit down and have a dialogue with,” says Nicholas Stonestreet, head of Trust & Wealth Structuring at Merrill Lynch International Private Client Group. “It’s a really important part of private banking.”

Stonestreet encourages his staff to ask clients about their philanthropic intentions. Like therapists exploring personal problems, charity experts at private banks can help donors think through their altruistic inclinations and motives.

Will the client get more out of giving while still alive or after death? Some may want a foundation to carry on their legacy forever; others may want the bequest spent out at some point.

The tax implications of giving are a frequent concern. Though the U.S. leads the world in tax breaks for charitable giving, other countries are catching up.

In recent years the U.K. has improved its Gift Aid plan, introduced in 1990 to allow charities to reclaim basic-rate tax (now 22%) on one-time cash donations of at least £250 ($390), by eliminating the minimum amount and allowing income tax deductions to those donating stock.

This year Canada indefinitely extended legislation that halves to 25% the amount of capital gain subject to tax for gifts of public securities made directly to charities.

Private bankers will help structure a donation to maximize the writeoff, selecting the best asset and even seeing to the completion of the transaction. Sometimes an offshore trust is advantageous for tax or other reasons; private banks have always known the score there.

As philanthropy becomes more widespread on the giver end, so too are receivers becoming more active. Banks can set up a screening service for pleas and proposals from would-be beneficiaries.

To continue reading, please go to the original article here:

http://www.wikihow.com/Become-a-Private-Banker

CNBC: Sudden Wealth Can Leave You Broke.

CNBC: Sudden Wealth Can Leave You Broke.

By Ilana Polyak   Wed, Oct 1 2014

​At some point, we’ve all fantasized about winning the lottery and living the high life, replete with mansions, sports cars, yachts and exotic travel. But the reality of hitting the jackpot isn’t some glamorous Kardashian-style existence.

Instead of finding themselves in the lap of luxury, 70 percent of people who come into sudden money are broke within a few years, according to the National Endowment for Financial Education. Many even end up cursing their windfalls.

 The reason, said Susan Bradley, founder of the Sudden Money Institute, is that people get used to their own level of wealth. Suddenly they don’t have the same limitations they had before, but many don’t realize they still do have limitations.

And it doesn’t take a Mega-Millions win to throw someone into monetary chaos.

“We define sudden money as having more money than you’re used to dealing with,” said Bradley, who trains financial professionals in how to help people transition through a windfall. “It’s enough money that it has the potential to rock your world.”

For some people, $100,000 would do it; for others, a couple of million plunges them into sudden wealth.

Lotteries are the rare path to sudden money. More likely is an inheritance, a lawsuit, a pension payout or the sale of a business. Celebrities and Major League athletes face this, too, when they hit it big. No matter the source, having to figure out how to live with money takes skill.

Candace Bahr, co-founder of Bahr Investment Group, tells of a client who got a $4 million settlement after an airplane crashed into her home, killing her husband and one of their four children. Before the lawsuit, the woman had been a housekeeper and lived modestly.

Afterward her spending had no limits, especially when it came to providing for the surviving children. “She wanted to provide for them because they were traumatized,” Bahr said.

Within months the windfall was reduced to $1 million, and that’s when Bahr stepped in to put some stopgap measures in place, such as advising her client to sell the expensive home she had recently bought. “It can look like that bucket doesn’t have a bottom, but it does,” she said.

​Take A Time-Out

Most people want to start spending their money right away, and their list of desires is long. Delaying major life-altering decisions, such as moving or quitting a job, can put the brakes on impulsive behaviors.

“Use the decision-free zone to sort and organize,” Bradley said.

​Robert Pagliarini, a certified financial planner whose firm, Pacifica Wealth Advisors, specializes in serving clients experiencing a windfall, also cautions against too many big decisions.

The author of “The Sudden Wealth Solution: 12 Principles to Transform Sudden Wealth Into Lasting Wealth,” Pagliarini also has a master’s degree in clinical psychology and explained that sudden money often leads to depression.

“We take ourselves from what feels comfortable … and put ourselves in a brand-new environment,” he said. By moving, people leave their communities and join ones where they are not yet rooted. Taking up expensive hobbies like travel means less-well-off friends can’t participate.

“It’s really hard to keep those relationships,” Pagliarini said.

Family and friends may also come out of the woodwork asking for a share of the windfall. A decision-free zone provides an inoffensive way to tell them you’re not making any financial commitments just yet.

​Get A Plan Together

The flip side of acting impulsively is not acting at all. There’s a downside to that, too.

When a client of financial advisor Jonathan Wolff inherited $10 million from her parents, she was paralyzed. “It became such a burden that it shut her down,” said Wolff, president and founder of Lightship Wealth Strategies. She left the money in a money market account.

​Finally, Wolff said he couldn’t work with her; he couldn’t charge her a management fee to keep the money in cash. “And family members asking her for money made it even worse.”

Eventually, decisions do need to be made. “If you can’t make decisions, then get the right help,” Pagliarini at Pacifica advised.

Assemble A Brain Trust

To make sure all bases are covered, sudden-money recipients need a team of professionals. The team should include a tax expert, a lawyer and an investment person.

Trust and estate lawyers, depending on the state they’re licensed in, might be able to keep the name of a recipient of a large cash settlement or prize private. And they can help create appropriate trusts to give money to family and friends.

​Certified public accountants can help minimize taxes due on windfalls, by advising how to take a payout. For example, a $10 million settlement would be taxable at the highest rate if it is taken as a lump sum.

But a structured settlement that spreads the payments out over 30 years can substantially lower the tax rate, because each year’s income puts the recipient in a lower tax bracket.

When money changes, life changes.

Susan Bradley  founder of the Sudden Money Institute

The same goes for lottery winnings.

Taking the lump sum incurs a penalty and high taxes. But the annuity option has no penalty, and taxes might be lower, too.

“If you’ve won $1 million, you’re going to pay $500,000 in taxes,” Pagliarini said. “But if you take the annuity that pays you $75,000 over the course of 20 years, you may not owe any tax.”

An investment professional, meanwhile, can help windfall recipients create an income stream that won’t be depleted or mismanaged.

Bradley at the Sudden Money Institute adds that the team should also include a person who understands financial transitions and can coordinate all the parties.

In fact, someone who understands just how unsettling the transition to greater wealth can be is of even more value to a newly enriched person than an investing ace would be, she noted.

“When money changes, life changes,” Bradley said.

​SOURCE: https://www.cnbc.com/2014/10/01/sudden-wealth-can-leave-you-broke.html

​--------------------------------

Sudden Wealth Syndrome 70% will lose their money after a few years. 

Do you want to be in the 70% or 30%?  The decision is clear.  Start your planning today.

 www.CurrencyExchangePlanner.com

The most advanced and affordable planning tool for the Dinar community.  Available in Desktop or Mobile App.

https://www.currencyexchangeplanner.com/article-15-sudden-wealth-syndrome

When Do You Finally Feel Rich?

When Do You Finally Feel Rich?

By  Financial Samurai

There’s a saying that goes something like this: To feel rich, take whatever you earn and triple it. Once you get there, triple it again, and again, and again. In other words, due to hedonic adaptation, it’s impossible to ever feel rich!

But I’ve noticed on my path to financial freedom that there were several times when I felt incredibly rich. The Dow reaching 20,000 wasn’t one of them by the way. Perhaps you can share when you finally felt rich as well.

When I Finally Felt Rich

1) When I went back to Malaysia. I used to live in Malaysia from 5th grade to 8th grade in the early 1990s. At the time, the exchange rate was ~2.3 Ringgit to 1 USD. When I finally paid a visit more than 20 years later, the Ringgit had depreciated to 3.7:1. One Ringgit bought the equivalent of $1 worth of stuff in the States. Therefore, I suddenly had almost 4X the amount of purchasing power during my week-long stay. So perhaps making 3X more doesn’t really make you feel rich, but making 4X more does!

In addition to the increased purchasing power aspect, it felt particularly moving to visit my old house and to realize I didn’t fall through the cracks. I was an undisciplined kid who got into way too much trouble. If I was my own father, I’d have considered sending myself to military school.

2) When I finally hit my passive income target. It took 17 years to achieve my passive income target, but when I finally got there, I felt rich because there was no more fear of running out of money anymore. Growing up in developing countries and experiencing many boom bust cycles working in finance always keeps me a little paranoid about losing everything.

Passive income feels like free money because you’re not doing much to earn it. You almost feel guilty collecting a rent check or dividend payment, which is why I have no problems paying a management fee or going to a rental property to fix a problem.

The amount of passive income generated is less important than whether or not it can cover all of your living expenses plus a nice cushion. In my case, that cushion allows me to save at least 30% of my passive income because I’m a savings addict. Every dollar you after achieving your passive income target feels like you’re playing with the houses money.

3) When a new income stream comes out of nowhere. I firmly believe none of us are maximizing our income potential. I’m going to guess that if we could make a maximum of $100 a month, most of us are really making only between $10 – $30. It’s kind of like how none of us utilize more than 20% of our brains. If we did, perhaps we’d find a cure for cancer.

To continue reading, please go to the original article here:

https://www.financialsamurai.com/when-do-you-finally-feel-rich/

Money is Not a Four Letter Word

 Money is Not a Four Letter Word

 By  JJ      

This post is part of the #WomenRockMoney Movement, a large group of female personal finance bloggers who have come together to inspire more women to learn about money. ***

Money can elicit a multitude of emotions. Envy, shame, ignorance, superiority, dread and anxiety, to name a few.

For many, money is a source of confusion.

Cloaked in a combination of jargon and overly complex concepts, a basic understanding of personal finance seems insurmountable when first getting started.

This feeling is disproportionately true for women.

Studies have shown that women not only have lower rates of financial literacy then men but they are also less confident in their financial abilities. With more women becoming equal contributors in the household, or even the primary breadwinner, it’s important that we get a better grasp of the personal finance basics.

On a societal level the subject of money remans taboo. Although we deal with matters of personal finance on a daily basis, most of us don’t feel comfortable discussing money, even with our best friends or romantic partner.

In order to increase the financial knowledge and confidence of women we need to create an environment where we all feel comfortable talking about money.

Did you know that people would rather have a conversation about death then talk about their personal finances?

What?

Yes, it’s true. Kathleen Burns Kingsbury, author of “Breaking Money Silence,” found that nearly half of Americans would rather discuss death, religion or politics before having a conversation about their personal finances.

This is crazy!

While I have not found a comparable published statistic for Canadians, I am going to assume we share a similar sentiment with our Southern neighbours. (Side note: if you are aware of a similar study published about Canadians please let me know by leaving a comment below!)

To continue reading, please go to the original article here:

http://thefinancialgraduate.com/money-not-four-letter-word/

What If I Don’t Get Hit By A Bus?

What If I Don’t Get Hit By A Bus?

By Steven  October 14, 2019

We’re a bit extreme about saving money around here. In fact, we recommend saving so much money that you never have to work a job again if you don’t want to, preferably as early in life as possible. This is usually achieved by optimizing your everyday spending and making big, deliberate choices to reduce some of life’s biggest costs, especially during your 20s and 30s.

Over the years, we’ve heard from a lot of people who don’t think this is such a good idea. One of the most common arguments is, “but what if you get hit by a bus?”

The implication is that it’s risky and senseless to deprive yourself of life’s pleasures, especially in your “best years.” After all, life is fleeting, and it could all be taken away in the blink of an eye.

An argument against pursuing financial independence and early retirement, apparently.

Okay, but like, what if I don’t get hit by a bus? Isn’t that way more likely? Shouldn’t I set up my life assuming I’ll live to be 60+, since there’s a 91% chance that I will?

Long-Term Thinking Pays Off

Unless you have a chronic illness or put yourself in immense danger on a regular basis, chances are good that you’ll live a long time. So for most people, hypothesizing about sudden death shouldn’t make for a very convincing argument. Still, the YOLO reasoning is pretty popular in our society.

To make money choices that will serve you better in the long run, first accept that you’re gonna be around for a while. When you’re 22, it’s tough to imagine that you’ll be 40 or 50 someday, but it really is coming. So make sure you’re setting up your life to enjoy the vast majority of the years ahead, not just focusing on today.

The key is to buy freedom for yourself sooner rather than later. If you spend the majority of your income in your 20s and 30s in order to “enjoy life,” you’re also guaranteeing that you’ll need to continue working full-time into your 40s, 50s, and beyond. That means you’ll spend thirty or more extra years in an office rather than out in the world doing the things that get you excited.

To continue reading, please go to the original article here:

https://www.tripofalifestyle.com/perspective/what-if-i-dont-get-hit-by-a-bus/

Older Women Are the Best Money Mentors

Older Women Are the Best Money Mentors

By Charlotte Cowles

 I am 100 percent certain that Janna, a slightly older colleague at my first staff job, has no recollection of doling out financial wisdom that I still think about today.

 About ten years ago, we were lurching upwards in our building’s hot, rickety elevator when she made an off-handed comment about how our employer, despite its general stinginess, had a pretty good 401(K) matching policy. “It’s free money,” she said. “You signed up for it, right?”

For the record, my dad had told me the exact same thing, and so had the lady in HR when she handed me my new-hire paperwork, but it was Janna’s words that actually penetrated my thick skull.

“Yeah,” I lied, and then raced home to dig out the enrollment forms. Every time I’ve started a new job since then, I’ve thought of that conversation and followed Janna’s advice.

***

 Why did I listen to Janna and not anyone else? Think about all of the perfectly good financial tips that bombard us every day but never really sink in.

None of us suffer from a lack of information about what we’re supposed to do with our money — we just don’t absorb it. How do we decide what to take seriously, and what to file under “things I should probably do but won’t”?

 I would argue that it’s all about the source. I listened to Janna because I could relate to her but also looked up to her. She was 25 to my 22, an associate editor in the same department where I was an assistant.

  She drank martinis and was full of ideas in meetings. She talked back to our crabby manager and showed me where she kept spare tampons in case I ever needed one. She was a step ahead of me in almost every way, but still close enough that her life seemed within reach.

 The majority of women want more and better financial guidance, but they just aren’t sure where to get it.

 Data consistently shows that the majority of women want more and better financial guidance, but they just aren’t sure where to get it.

For many of us, hiring a financial advisor seems too formal or intimidating (not to mention expensive), while talking to a parent, family member, or friend often isn’t much use (they may not understand your industry or specific financial challenges).

 This leaves a big, Janna-shaped hole in people’s lives, which is why I believe that finding someone whose advice you trust — ideally, someone a little bit older and wiser who you’re already friends with — is one of the best financial moves you can make.

To continue reading, please go to the original article here:

https://www.thecut.com/2018/12/how-to-find-a-money-mentor.html

4 Laws To Generate Wealth

4 Laws To Generate Wealth

By The Money Mix

Want to generate wealth? Play by the rules.

Have you ever come across the phrase – ‘play by the rules’? It’s perhaps the most powerful phrase in the world we live in. Why? Because the world itself is in existence because it plays by some specific rules.

All-natural laws are just what they are; they are not there for us to judge their fairness or otherwise. The best we can do is to take advantage of them and be a blessing to ourselves and our generation.

If you want to generate wealth,  for whatever reason you might need it for, these laws should be your best companion.

I have compiled these four laws because of the evergreen nature, and if they are considered with a kin eye, you are on your way to wealth.

The Great Law To Generate Wealth – Law Of Saving

Unto he who continues to keep not less than 10% of his income shall more income visit, and from he who keeps no such store shall fresh income avoid, and even the little that struggles to get to him shall be quickly removed and given to he who keeps the store.

Gentle words fall lightly, but they have great weight!

We already know that more leads to more, and that loss lead to more losses until something drastic stops the trend. If you want to generate wealth seriously, you must be careful with our saving plans, why we must not lose the momentum.

The Law of Income According To Earl Nightingale

This states that all money that will come to you as an individual, group, state, company or nation, all income hinge on demand for what you do, how well you do it and the difficulty of replacing you.

From this, you can infer that as you improve your earning capacity by taking in more useful information and motivation, you earn more.

To continue reading, please go to the original article here:

https://themoneymix.com/generate-wealth/

Why Wealth is Only Half the Story

Why Wealth is Only Half the Story

By Max From The Money Mix

When financial freedom is mentioned, what comes into your mind? 

You probably think of having plenty of material wealth and possessions, perhaps.

Well, that’s just not the whole story.  I will let in on a secret that most people miss.  Financial freedom is not just about attaining plenty of monetary possessions, it’s more than that.

Financial Freedom Secret

A majority of people make the mistake of tagging their value of financial freedom on some imaginary figure or a specific amount of money.  They envision that, once they hit that target amount, then they will have attained financial freedom and will no longer have to work again.

Well, think about the likes of Bill Gates, Warren Buffet and other fellows who are wealthiest in the world.  The money they have can sustain them for their entire life.  But, they still work, however, their motivation is now different.

What drives and motivates them to do the things they do is something totally different from just the need for money.  They still work to probably make the world a better place, to get recognition, to build a legacy among other forms of motivation.  There are numerous quotes about financial freedom.  Warren Buffet once said, “Someone is sitting in the shade today because someone planted a tree a long time ago”.

Investing for a long-term impact should be the driving force.

So, why is wealth only half the story?  Let’s look at some basics of wealth.

The Basics of Wealth

Wealth and possessions are just one among many other means to financial freedom.  Economically, wealth represents a person’s net worth and financial position.  It is obtained using a personal financial ratio where the total liabilities are deducted from the total assets.  Wealth is categorized into three categories which include personal property, monetary savings and capital wealth.

Personal property includes tangible items such as the automobiles, houses, the monetary savings include an accumulated past income and capital wealth includes the value of the income-producing assets.

Wealth can provide some form of safety net or protection against the unforeseen decline in the individuals’ living standards in the event that they lose their job or has another form of financial emergency.

 Wealth is a compilation of things that are limited in supply, are transferable and can be useful to meet certain human needs.  Therefore, scarcity forms a key factor in wealth.  Wealth is considered an accumulation of something that is scarce and a resource with net asset value.

When you have the abundance of these resources, you will not have to worry about the money you need to meet your physical needs.  However, it is still possible to feel inadequate once you obtain the amount of money you’ve always figured.  Wealth can help you meet various physical needs such as shelter, clothing, food, but does it really help meet all human needs?

Let’s see how you can achieve financial freedom in relation to diverse human needs:

Human Needs and Achieving Freedom

To continue reading, please go to the original article here:

https://themoneymix.com/why-wealth-is-only-half-the-story/

The Things People Say About Money

The Things People Say About Money

And What to do About It — So Your Voice is Heard

Sherry Parks  

I remember it as clearly as if it happened yesterday. I was right in the midst of my accounting career and was working my way up the ladder. At that point, I had already received several pay increases and promotions.

 I was out shopping with my mom and I don’t remember exactly what we were talking about, but I do remember my mom’s words. She came out with this zinger:

​“If you can’t live on $25k per year, then something is wrong with you”. Let me tell you, this wasn’t in the 70’s or 80’s.  This was in the 2000’s. A time when the average annual income was between $45 and $50k.

 I chose to ignore her statement. I was already making more than double that amount and I wasn’t prepared to share that with my mother. In fact, I was a little bit afraid of telling her.

​What would she expect of me? What would she think of me? What would her judgments of me and my lifestyle become?

 This is one conversation that has never left me. Not because it was a big emotional scene. Not because I received specific judgment on me personally. I think it was because I needed to remember that moment.

I’ve already shared that I made a decision as a teenager that I wasn’t going to live in constant struggle with money. You can read more about that here. I was clear that $25k per year wasn’t enough.

 I was determined to feel good about money and that meant that more would have to flow into as well as back out of my life in order for me to have ease with money.

And that decision moved me to a place where what my mom’s personal belief about money didn’t matter. I was secure in my belief that money could and would be easy for me.

 But here’s the thing, we all have family or even friends who say things about money that could potentially keep us stuck.

​Fear of judgement.

Fear of loss of loved ones.

Fear that we won’t fit in anymore.

Fear that we will leave them behind.

 When we hold onto those fears, we do stay stuck. When we listen to what they say and buy into their beliefs, those things can hold us back and keep us from truly experiencing what we want for our money and our lives. Today, I’m sharing a few of my favorite tips for helping you to lean into your own beliefs and create the life you want.

 Get really clear. Before you can even start creating the money and life you want, you have to get really clear on WHAT you want. It can’t just be something like: “I want enough money to pay my bills”. It has to be so clear that a 3rd grader can understand it.

Something more like: “I need $3k per month to pay my bills, I also need $1k per month for giving and saving and I need $500 per month for my personal enjoyment.”

 This is 100% clarity about how much money you want flowing into your life. Anything less than that allows rooms for others to influence you.

 Decide. I know I’m always using this one, but honestly, decision has been the biggest factor in changing my money path. Once I decided, there was no other choice but to create what I wanted.

 You need to decide what you are going to stand for and put up with in your money life. Are you going to allow others to dictate the amount of money you have? Are you going to allow others to judge you for wanting more?

To continue reading, please go to the original article here:

https://medium.com/thrive-global/the-things-people-say-about-money-1370963a2fbb

Why You Should Buy Travel Insurance

Why You Should Buy Travel Insurance — Even if Your Credit Card Offers It For Free

By Holly Johnson. 18 October 2019.

 Travel is never cheap, and that's especially true if you're flying to a destination far from home. For that reason and plenty of others, savvy consumers tend to pay for travel insurance before they even head to the airport.

With a travel insurance plan, you can buy coverage that will reimburse if you if your trip is canceled or delayed for a covered reason beyond your control. You can even purchase "cancel for any reason" policies that let you back out of your trip any time you want.

Other inclusions travel insurance policies offer include medical coverage, baggage delay coverage, lost luggage insurance, travel accident insurance, and more.

Many consumers lean on the free travel insurance their credit cards provide — and that can sometimes make sense. After all, premier travel credit cards offer most of the coverage you get with a travel insurance policy for free. And if you can get insurance for free, why pay for it?

The reality is, there are a ton of reasons to buy travel insurance even if you get some coverage with a credit card. Here are a few of the most important details to consider as you plan your next trip.

Pay For Sufficient Medical Coverage

Even though travel credit cards are pretty good about offering perks like trip cancellation/interruption insurance and baggage delay coverage, they're notoriously bad when it comes to offering medical coverage. That's a real problem if you're traveling to a destination where your own health insurance coverage won't work, such as any trip abroad.

With travel insurance, however, you can buy a policy that offers a much higher limits for medical expenses. It wouldn't take long to rack up huge medical bills if you wind up in the hospital due to illness or broken bones during your trip, but you can protect yourself with adequate travel insurance coverage that includes coverage for medical bills. (See also: How Emergency Medical Coverage Could Save Your Vacation)

You Need Medical Evacuation Coverage

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