The economy is more volatile and investors need to be cautious. There are bound to be under-performers and over-performers. The following are promising mutual funds that you can invest in this year. Vanguard 500 Index Fund: A broad index fund, this has a low expense ratio of 0.16 and requires a minimum investment of $3000. Fidelity Nasdaq Composite Index Fund: Also a broad index fund with an expense ratio of 0.29, you need to have a minimum initial investment of $2500. With the economy in a mature phase, growth stocks are poised to be clear winners. With investments in large cap growth stocks more than half of the funds holdings are in information technology. Vanguard HealthCare Fund: A sectoral fund with an expense ratio of 0.36, the minimum investment required is $3000. With the healthcare sector receiving a boost after presidential victory, this is one fund to watch this year. About 15% of the fund’s exposure is in biotech stocks, with the rest in healthcare equipment, tech, and managed healthcare services. Fidelity Select Banking Fund: With an expense ratio of 0.79 and a minimum initial investment of $2500, this fund is a definite gainer. Financial stocks have become more popular post victory.

Planning for retirement doesn’t have to be a chore, in fact, it can be made downright easy. With a good investment firm, a business jargon won’t be a hassle anymore. If you are new to the world of investments, and looking for options that can help you secure and save money for the future, then you must take a good look at these 3 investment firms. They’re all well known for their customer service and solid returns, and are presented in no particular order. Betterment If you’ve got an old, orphanized 401(k) plan lying around somewhere, you can let Betterment take care of it. They consider factors like your age, your retirement date and your personal investment goals. After providing the necessary details, all the other aspects of the investment solution is handled by Betterment. If you want someone to take care of your IRA (Investment Retirement Accounts) for you, then they can do that as well. Good investment firms today can work with minimal paperwork; that’s something this firm can offer you. The company also optimizes your investment options based on your risk preferences; their customer service is known to be exceptional and hassle free. Fees are low, and most procedures are automated.

A strong equity performance has been the trend with oil stocks in the market most of the time, and investing in stocks of oil companies is considered a good bet these days. Indeed, analysts are of the opinion that 2017 is the year to invest in oil stocks, or if you already have been dabbling in oil stocks, to increase their share and quantum in your portfolio. This is, in part, thanks to OPEC’s decision to reduce the oil output by over 1 million barrels a day, as well as non-OPEC countries that produce oil pledging to reduce their oil output by half a million barrels. So, why is this so important and so relevant? Well, oil output and production are decreasing, but the same cannot be said for consumption, and global patterns suggest that oil consumption is only continuing to rise. So, this means in the quite future, investing in oil stocks will bring a windfall. It may happen in the quite near future or it may take some time, so think of you are in this for very short term gains or if you have holding capacity before choosing to invest in oil stocks. However, the windfall, when it comes, should be a good one.

One of the most beneficial advantages of balance transfer credit cards includes transferring your existing debt from a high-interest credit card to a low-interest credit card. In the case of a high-interest credit card or cards for that matter, the repayment will take a hefty toll on your finance after meeting interest payments and principal payments. Consolidating your debts in a low-interest balance transfer credit card will enable you to free up cash and meet other much-needed obligations. But not everyone is eligible for one, you need to have an excellent credit score in order to be eligible to even apply. Some of the best balance transfer credit cards available in the market for you to take advantage are listed as follows: Discover it® 0% interest card The main advantage of this card is balance transfers into Apr at 0% for a longer repayment period of 18 months. This will free up the much-needed cash and reduce the load of debt, thus enabling you to meet your principal payments also. the ongoing rate applicable will range from 13.49% to 24.49% variable with a balance transfer fee of 3% applicable on the total debt. The card also features an introductory APR at 0% for the first six months.

Budgeting is important, only then we can manage to save. Once we develop the habit of saving money, we can never go over our set budget. Saving money is more important, especially if you are on a tight budget. Working on a tight budget can be difficult for someone who is not used to it, but once you start saving, you will realize that your needs can be fulfilled even if your budget is low. Saving money is inevitable because when you save your money, you can spend on something that would be a crucial need in the future. When you are on a tight budget and are saving up for something, you are expected to make certain changes in your spending habits, lifestyle, and several other areas of life. If you are not used to working on a tight budget, here are a few tips on how you can save money. Cut unnecessary corners What are the things, services, or utilities that are not so important to you? Can you survive without them? You can analyze certain aspects of your daily life and check if there are things which you can stop using. For instance, instead of using cable subscription, you can switch to an Internet-based TV service.

Recession isn’t a new phenomenon. In fact, in the 1930s, the Great Depression caused a massive stir in the world economy. It perhaps paved the way for the misuse and depletion of resources, which perhaps decades later led to the Recession of 2008 courtesy the Lehman Brothers getting bankrupt. Economic downturn is the biggest enemy affecting the common man at present. Even the richest, who may not be a part of recession-proof industries, are scared of its presence. So, the next time such a bad scenario occurs, there are ways in which people can avoid it and be financially stable. Read on to know more. Pay off your debts instantly America lives in a highly debt-based economy. As a result, credit cards with high interest rates are sold like hot cakes. This encourages more spending, and as a result, debts on many instances. This occurs because credit card companies give you the opportunity to pay later in different ways with more interest. It also can make you rely more on your salary or pay check, which may reduce drastically should a recession occur. It is better to pay off dues as quickly as possible or even at an earlier date than scheduled to avoid uncertainties.

The US has been a dream destination since decades for people around the world to live in. The work opportunities, growth prospects, corporate culture, and the American dream are all major factors that help contribute to this. Earning in US dollars could mean that an expat can save up and maybe provide a better lifestyle for their family, even if someday they decide to head back to their native country or shift to another country. However, like with any other nation, the US has its own set of challenges that an expat may have to face. When it comes to financial challenges, it is something which gains more importance. Taxes in the US The tax status in the US for a foreign national (or an alien who doesn’t hold US citizenship) depends on whether he or she is a resident or a non-resident alien. Non-resident aliens are usually not US citizens unless they hold a green card or meet a substantial presence test. Therefore, even if they are permitted to have investment accounts abroad, they would need to report them for taxation purposes to the US Treasury Department if the account is valued at $10,000 or more. Failing to do so involves heavy penalties.

It is often believed that we are our own best friend or enemy. When it comes to personal finance, it holds true as well. Often, we are quick to rely on external factors such as inflation, government policies, banking policies, market fluctuations, and so on for our financial security. While they do play a role in affecting it to some extent, there are people who manage to deal with these effectively and maintain financial stability. This is because they know that they are ultimately in charge of their own wealth and should know of ways to handle it best. However, people can often fall into a trap without realizing their own approach towards money. Following are some behaviors that could risk your financial security. It is important that these behaviors be avoided in order to not affect your financial stability. Making impulsive buying decisions Level-headedness is a huge asset when it comes to money. We often tend to get excited seeing a new mobile phone or when we see that tempting Burger King whopper in a shopping mall. While the prospect of purchasing is quite hard to let go of, impulsive buying is what can get one into trouble when it comes to managing their finances.

A job with the military is a rather prestigious one, no doubt. However, since you are deployed and are living away from your family, you would want to ensure that they remain safe and financially secure. If you are a military personnel, the last thing you would want on your mind while spending time with your loved ones before you are deployed to duty would be financial stress about the future of your family. Therefore, taking smart financial steps before you are deployed, to ensure the financial safety of your family, is always a good idea. Here is a concise list of smart financial moves you could make before you are sent off to duty: Organize all your legal documents All your legal documents like your will, power of attorney, and healthcare proxy need to be well organized before you set off on duty. This is because if in case of your absence, there is a financial emergency, your family will have the backing required. Similarly, if the family decides to buy a new home or car, the power of attorney documents will be required. Also, check on your insurance, its time limit, and its beneficiaries before you are deployed.

In this day and age, teens are tech savvy and very enterprising. They are go-getters and their fast-paced lifestyle forces them to think about money from a young age. However, a great majority of students are still pessimistic about their earning potential with the rising levels of unemployment. Parents are a big influence on children, and they can inculcate healthy spending and saving habits in children from a young age. Let’s dive right in and see what else kids can do to be financially secure in the future. Financial goals The importance of saving, spending, and investing must be imbibed early on so that children can learn to manage expenses from a young age. For example, some parents teach kids when they are as young as 4 years to save money in a piggy bank or a money jar. This allows them to do chores around the house and earn small amounts, which can be used to buy whatever they want. In your teens, however, setting financial goals can be used to meet your future education expenses. Other financial goals can include saving to take a trip abroad or purchasing the latest gadget. Getting a job While many teens do routine chores, the importance of a job can never be overstated.

We cannot begin to stress enough how important financial planning is for a successful and financially stress-free future. However, very often, we tend to believe that financial planning is only for the rich and the well-to-do because they have the money to plan for and not for the ones who aren’t doing very well. This is an incorrect mindset that has been ingrained into our minds by the media, society, and other such external factors. It is important to know that financial planning is not just for the wealthy section of society, but for everyone. As a matter of fact, if you aren’t very financially secure right now and wish to be so, financial planning is the way to go! Here are 6 reasons why financial planning is for everyone and not just the wealthy: No financial plan equals hard-to-set financial goals Without a financial plan in place, it would be almost impossible for you to figure out how much money you’d like to save in the next 3 months or 1 year or for your retirement. So, if you don’t have a roadmap, you really wouldn’t know where you’re going. You Might Also Like: Money Lessons We Can Learn From Past Presidents According to a recent study by Financial Engines, those who have a financial plan in place are more likely to save about 10 percent of their salaries for their retirement, whereas people without a financial plan barely end up saving 6 percent.