Car leasing is becoming increasingly popular given its affordability. Many people prefer renting a car that they can use over a specific period than buying a new one. You need to consider various factors if you decide to lease a vehicle. The most important factor is the insurance. You do not own the car, and you do not want anything to happen to it as you drive it.

Insurance coverage needs to be immediate

Sign a car lease deal only if it includes insurance that covers the cost from the day of delivery. As soon as you drive the vehicle, anything could go wrong. You want to ensure that it is already under insurance coverage upon arrival.

You do not need to look for insurance  

If you get a car lease without insurance, you will need to find it yourself. You do not want to waste time looking for the right insurance if you can find a deal that includes the car and insurance. It is a stress-free approach to getting a car lease.

You can have a fixed monthly expense 

The monthly fee for the car lease is inclusive. It means that you can prepare for the recurring bill from one vendor instead of worrying about various expenses. It will stay this way throughout the lease term.

You do not need to shop for renewal quotes

The insurance coverage of your car lease will end at the time that your car lease ends. If the lease and insurance are separate, you might need to shop for renewal quotes. It takes time to do this, but you can avoid it with a comprehensive lease insurance package.

Extensive coverage 

When the vehicle has insurance coverage, you will receive a guarantee that the car receives regular maintenance and servicing. Again, you do not own the vehicle, and you want to return it in perfect condition at the end of the term.

There is no need to wait for vehicle repair authorisation

Due to the car lease and insurance bundle, there is no need for you to wait for vehicle repair authorisation. It significantly reduces your downtime and allows you to drive the car again as soon as possible.

The car lease company knows what is best

Since the vehicle comes with insurance, it means that the car lease company did their research. They looked for the best insurance policies out there before they decided to ink a deal with the insurance provider. You will feel safe with their chosen insurance company.

Given these reasons, you need to start looking for car lease deals that include insurance as part of the package. Again, it is only one of the many elements to consider as you decide which car to lease. You also need to look at the quality of the vehicle, and if it is worth renting for the next several years. You can start at www.genusleasing.com if you want quality vehicles that you can drive now.

Image: Unsplash.com

How much money do you have in your savings account at the moment?

If you don’t have anything saved up at all, you are, unfortunately, not alone. Studies have shown that about 35 percent of Americans currently have $0 in their savings accounts. And an additional 35 percent of people only have a few hundred dollars in savings.

You can change your life and improve your future by setting more money aside for savings in 2019. And contrary to popular belief, it’s not as difficult as you might think to start saving a little bit of money at a time. It’ll add up over the months and years and make your life substantially better.

Here are 7 simple strategies that will help you start saving money more effectively.

1. Create a Budget at the Beginning of Every Month

If you’re going to make an effort to get your personal finance issues in order, the very first thing you should do is begin using a monthly budget. A budget can keep you and your family on track as far as your finances are concerned.

At the beginning of every month, make a list of how much income you’re going to bring in versus how many expenses you’re going to have. If you find that your expenses exceed your income, you have a problem on your hands. You’ll need to scale back on your expenses right away.

By budgeting your money, you’ll give each and every dollar that you spend a job. This will decrease the chances of you wasting money and allow you to start saving money that you have left over at the end of every month.

2. Make It a Point to Eliminate Debt Quickly

Americans have more than $13 trillion in debt collectively. This includes everything from credit card debt and medical bills to mortgages and student loans.

If you’re carrying around any debt at the moment, it could be costing you dearly and making it just about impossible to save. You should make it a point to eliminate your debt as quickly as possible so that you don’t have it hanging over your head all the time.

There are different ways to get aggressive when paying down debt. Some people prefer to use debt consolidation, while others use techniques like the debt snowball.

Find the debt solution that you think will work best for you…and stick with it! The quicker you can get rid of your debt, the quicker you can start saving more money up.

3. Use Coupons as Often as You Can

Are you routinely using coupons when you take trips to the grocery store, the pharmacy, and all of the other places you visit on a weekly basis?

If not, you’re leaving money on the table every single time you check out at the register at one of these places. The internet has made it easier than ever to find coupons for just about any store.

When you know you’re going to be taking a trip to a store, look around for coupons for that store first. You could save a significant amount of money by putting coupons to good use.

4. Stop Eating Out at Restaurants So Much

Do you eat out at restaurants several times every week? Or do you buy lunch almost every day instead of bringing a bagged lunch to work?

You might be under the impression that this isn’t costing you too much money. But in reality, studies have shown that the average American spends more than $3,000 every year eating out.

It’s not a crime to go out to eat every once in a while. But every time you eat out, you’re spending a lot more money than you would spend to eat at home.

Save eating out for special occasions and eat in more often. You won’t have any trouble saving money when you have an extra $3,000 or so laying around every year.

5. Cancel Your Cable

The cable bills in this country have gotten out of control. It costs many people several hundred dollars every month to keep their cable turned on.

If you’re sick and tired of paying that much for cable, why not cut the cord and save yourself money? You can keep yourself entertained with an internet connection and a subscription to a streaming service, and it’ll cost just a fraction of what cable does.

6. Sell Things in Your Home You Don’t Use Anymore

Is your house filled with a bunch of stuff that you don’t use much anymore?

That stuff might not be worth very much to you. But there are probably people out there who would pay good money to get their hands on it.

From furniture that you’ve had locked away in the basement for years now to that old baseball card collection sitting in the attic, you can sell the contents of your home and use it to pad your savings account.

7. Come Up With a List of Long-Term Financial Goals

In order to start saving money, you need to have things that will motivate you. One great source of motivation will be a long list of your long-term financial goals.

Do you want to:

• Build your dream home within the next 10 years?
• Send your kids to college without forcing them to rack up student loans?
• Buy a boat?
• Launch your own business?
• Travel the world?

You’re going to need plenty of money stashed away in your savings account to do these things. By writing down your goals, you’ll constantly be reminded of why you’re making such a strong push to save more money.

Start Saving More Money and Live a Better Life

Money can’t buy happiness. But when you have money in your savings account, it can take away some of the stress you feel day in and day out. It can also give you hope for a brighter future.

Start saving money now and see what a big difference it makes in your life. By making just a few changes, you can make your financial goals a reality in the not-too-distant future.

Read our blog to learn some tips for improving your personal finances even if you have a low income.

Did you know that the average college tuition cost ranges from $9,410 to $32,410?

It’s no wonder that most students need to take out a loan in order to attend college.

Wondering what the best student loans to fund college are?

Discover the best private student loans with low interest rates and a variety of repayment options.

College Finance Guide: The 5 Best Private Student Loans for 2019

If you are in a situation where there is a small gap between your grants and federal aid to cover your college tuition taking out a private student loan is an option. There are many lenders out there make sure you shop around to see the loan term options, compare interest rates and compare any other benefits they each have.

To make your search a little easier here are 5 best private student loans.

1. Citizens Bank

Citizens Bank charges no application fee and they have loan options for students and parents. They have parent repayment options of five to twelve years.

They don’t charge any fees for paying the loan off early. They offer an interest rate reduction when automatic payments are set up. Citizens Bank offers fixed and variable rates.

They have the following options available:

• Option to defer payments until after graduation
• Option to make interest-only or full payments while in school
• Option for the parent to make payments while the student is in school

2. CommonBond

CommonBond charges a 2% origination fee but they have no application fee. They also offer an interest rate reduction with automatic payments. They don’t charge a fee for paying the loan off early.

This private loan option is available to MBA candidates, undergraduates, and other graduate students. Their loans will cover up to 100%of the school’s cost. They have different repayment options including five, ten, or fifteen years.

CommonBond offers fixed and variable rates and their repayment plans come with a 6 month grace period.

CommonBond offers the following options:

• The option of $25 fixed monthly payments during school
• Option of interest-only payment while in school
• Option of full monthly payments

For this private lender, applicants have to apply with a creditworthy cosigner. If you are an MBA student then you don’t need a cosigner. Once the student pays on the loan for two consecutive years they may apply for a cosigner release.

If a student is dealing with economic hardship after graduation they may apply for forbearance.

3. LendKey

LendKey loans are funded by credit unions and community banks but facilitated by LendKey. They don’t charge an application fee or origination fees.

They offer interest rate reduction with automatic payments and interest-only payments while attending school or a $25 flat fee.

LendKey offers the following options:

• The option of making full payments while attending school
• Student repayment option of ten years after five years of minimum interest only or $25 flat fee payments

4. College Ave

College Ave doesn’t charge an application fee or an origination fee. They offer interest rate reduction with automatic payments.

This loan is available to undergraduate and graduate students and they have parent loan options available. College Ave loans can cover from $2,000 up to 100 percent of school costs.

College Ave has the following options available:

• Student repayment options are available of 5, 8, 10, or 15 years
• Option to make interest-only payments while in school or flat fee payments

5. Sallie Mae

Sallie Mae doesn’t charge an origination fee or fees for paying off the loan early. They offer interest rate reduction with automatic payments.

This loan is available to undergraduate and graduate students and the loan can cover from $1,000 up to 100% of school costs. They offer both fixed and variable rates.

After Graduation

Once you graduate keep in mind that there are also options available while finding a career in your field. You can check out commonbond vs earnest to see options available once you leave school.

The last thing you want to do is default on your student loans after graduation. This can have a huge impact on your credit. It also comes with further consequences

Is a Private Lender Right for You?

The best private student loans above are a starting point for your research on which private lender to choose to pay for college. There are many options out there. Most private loans require a cosigner because these loans are based on creditworthiness.

Curious if there is a benefit on paying your loans off early? Check out our article with more information about the benefits of paying your loan off early.

There are both advantages and disadvantages of settling a Santa Ana personal injury lawsuit with a court trial or deciding to settle that claim out of court. The legal path that you choose in your personal injury lawsuit will depend on the extent of your injuries and the outcome you most desire. In this article, we will discuss the advantages and disadvantages of taking your personal injury claim to trail or deciding to settle your claim out of court.

Advantages of Out of Court Settlements

1. Faster Compensation– When you decide to settle out of court for your personal injury claim, you could receive compensation for your injuries faster. This isn’t necessarily always the case, but it is probable, as litigation can prolong a Santa Ana personal injury lawsuit.
2. Legal Fees– It is true, going to a trial is a long process and can cost more money. You can avoid costly fees when you decide to settle your lawsuit out of the courtroom.
3. Avoiding a Lengthy Process– When you pursue a personal injury case, an outcome will likely take more time in court. When you settle out of court, you will not be at the mercy of court proceedings, hearings and a docket of other cases that a judge or jury will need to hear before your case.
4. Courtrooms are Unpredictable– A judge or jury can be unpredictable when deciding personal injury cases. An initial consultation with an attorney help reveal whether or not you have a lawsuit appropriate for the courtroom.
5. A Private Option– If you are a private person and do not want your personal information laid out in a courtroom among a number of people, an out-of-court settlement may be a better option for you.

Disadvantages of Out of Court Settlements

1. Less Compensation– The goal in a personal injury case for an insurer or business, is to settle the claim as quickly as possible and for as little money as possible. This may mean that your best interests are not always served. In this scenario, your injuries may be seen more a nuisance rather than a problem that needs to be addressed.
2. It’s Final – When you agree on an out-of-court settlement there is really no turning backwards, meaning, you cannot appeal the final decision. This might be fine in some circumstances, or do a great disservice in others.
3. This is Bigger Than You– Cases heard in front of a judge or jury can create change. If your personal injury case is a part of a bigger problem surrounding a policy, organization or business; going to court may create or force change with a guilty verdict.

Legal Representation Regardless of your Legal path

No matter which legal pathway you decide to take with your Santa Ana personal injury claim, you should seek legal guidance to learn about how to handle your specific situation. An experienced  Santa Ana personal injury attorney can decipher your legal rights and explain how the process will likely work for your claim. Here are a few attributes you should look for when you hire a Santa Ana injury lawyer.

1. Expert Negotiator– This attribute will help you regardless if you decide to settle out of court or take your case to trial. The art of negotiation is an important factor in personal injury litigation and should be a priority attribute when hiring an attorney.
2. Proof of Success– Don’t be afraid to ask a potential representing attorney for a record of their successes within the personal injury field. You can also contact your State Bar Association to learn more about your attorney and their litigation record.
3. The Right Skill Sets– Outside of having a  good legal record, your personal injury attorney should have a particular skill set that can be advantageous to your case. This may mean they have tried similar cases to yours, they have experience in the industry or field you occupy, they have exceptional analytical skills, good research skills or maybe see advantages in your case that are not seen by others.
4. Highly Communicative– It is not uncommon for lawyers to take a case and then become missing in action. Maybe they have taken on a caseload that they cannot keep up with or just disinterested in your case altogether. A Santa Ana personal injury lawyer should communicate clearly and effectively and be genuinely interested in the success of your case.

Personal injury cases are highly specific and unique to every individual and situation, and you should get in touch with a qualified Santa Ana Inury attorney to review your case and learn more about the circumstances that surround it.

Getting in any car accident is a scary experience. But, a truck jackknife collision could be one of the possible worst driver experiences you could ever go through. Imagine being on the highway and seeing a huge 18-wheeler losing control in front of you. Before you get to stop your car as the truck skids and the trailer swings from one side to another, it might be too late, and you might become a victim of a jackknife accident.

Jackknife accidents can occur from a variety of reasons: improper brakes and adjustments, sharp curves, improper driving, high speeds, weather conditions or even driver fatigue. Although any car can experience these problems, the sight of a truck losing control is truly terrifying. You probably know that already if you’ve been in a jackknife accident. The question you may be asking yourself now is: now what? I am alive and unharmed, so what are the legal steps that I should follow to get proper compensation?

1. Understand What Happened

After the initial shock of the accident is over, try to look at the event objectively and identify the puzzle pieces that led to it. Make a mental note of all the details you can think of and share them with the police. Was the truck speeding? What were the weather conditions? Did anything, in particular, catch your attention during those moments? Try to find some eye witnesses as well and get them to offer a statement. The more information you can offer to both the authorities and your semi truck accident lawyer, the better the chances of obtaining compensation for your pain and suffering.

2. Contact a Lawyer

While you can go about this process on your own, a lawyer would definitely make things easier for you. Prepare all the necessary files and legal reports before meeting one. That way, you can speed things up and enable them to build a strong case. With the right information at hand, a lawyer can ensure that the liable party will offer compensation for the damages, whether physical or emotional.

3. Know What You Are Entitled to after a Truck Accident

A truck accident may impact more than just your health. It is also a highly traumatic experience, and you could seek compensation for the emotional turmoil you’ve been through during those moments and after.

Another strong argument for getting compensated is a lost wage. If you can’t work because of the injuries you’ve sustained during the accident and you are missing work days, then the liable party should cover for your loss.

Although this is a scenario we don’t like to think about, you could also get compensation for wrongful death, in case you’ve lost a loved one in such an accident. If that’s the case, then the legal steps that you need to follow are a bit more complex than with a regular report case. It will require special attention from your lawyer since it might include homicide and other accusations if the circumstances of the accident make it plausible.

4. Mediate or Go To Court

If you’ve been in an accident before, then you know that it is easier to settle and mediate the conflict than going to court. A good lawyer that can negotiate on your behalf and get you the compensation you deserve is paramount at this stage of the process.

However, sometimes even the best of lawyers can’t reach an agreement, and you have to go to court to settle the case. If that happens, make sure to make trial expenses part of the compensation you require too. That way, if you win – and you most probably will with a good lawyer who builds a solid case, you would have ensured your justice without spending a cent from your money.

A truck jackknife accident can impact you on all levels. Don’t rush into the process of making the person responsible pay for your suffering. Take the time to heal yourself first, both physically and emotionally. And, look for a competent lawyer who can help you get the justice you deserve. People cope with trauma in different ways, but what matters most is for you to be alright.

Getting a college degree is getting more popular each year. Which means, a diploma in hand is now the ticket into the workforce for career hungry millennials. However, sky-high college tuition leaves no other choice for many than to take out student loans to afford their degree.

Each year the housing market continues to rise while salaries stay the same. Which, as a result, have led thousands of students to default on their student loans. Yikes! If you’re struggling to keep up with payments, you have options to stay on track. This guide covers the financial disasters a default may bring, and alternative methods to lower your monthly bill.

Visits from debt collectors

Once you missed a few payments, you may start receiving calls from debt collectors. These calls typically have one simple goal in mind: get the money back! With that said, debt collectors won’t always be friendly.

A default could negatively affect your credit

Missed student loan payments could affect your credit score. If you didn’t know already, your credit has a huge impact on your life! Bad credit often means higher interest rates, and you could end up paying hundreds to even thousands more compared to someone with good credit.

Fewer repayment options

Did you know that once you default on your student loans, you won’t be eligible for forgiveness, forbearance or deferment programs? In other words, you won’t be able to choose your own repayment plan at all. This can negatively impact your future since it’s impossible to predict what your financial situation will look like in the future.

How can I avoid a student loan default altogether?

Whatever you do, don’t default on your student loans! Here’s how it can be solved: find out if you qualify for an income-driven repayment plan. Docupop is a doc-prep company with the borrowers best interest in mind! They specialize in finding the best repayment plan for your lifestyle and budget. When money is a struggle, enrolling in an income-driven plan could help your lower your monthly bill. Instead of defaulting on your loans, head over to Docupop or call at (866) 269-5501 to find out if you qualify.

Moving your house, family and belongings can be stressful, exciting, scary, fun, and expensive. Moving them across the country however, that’s a whole other ballgame.

Finding a Winnipeg moving service that will value your stuff as much as you do and work hard to get your move done efficiently and safely is of utmost importance. But, finding a service that will do that without costing you your nest egg should be a close second.

Make no mistake, the costs of moving across the landscape to the opposite coast are going to cost you a fair bit of money, but you probably already were aware of that. Our job is to help you on the path of saving money where you can and getting you the best deal possible.

Here are our 4 best tips for saving some greenbacks.

Look Outside of Your Hometown

Typically, whenever we’re looking for a company to handle a certain job for us, we look locally. Our mechanics, accountants, babysitters, plumbers, and landscapers all probably are within a short driving distance, and that makes sense.

Unless you’re moving to a whole new part of the country.

Your options for cross country moving services are most likely going to be limited, especially if you only look for companies that are near your current home. But remember, they’ll be traveling 3000 miles to make the move with you, so expand your search.

This is especially true if you currently live in a small town. With competition not really being a factor, companies tend to charge more than they would if you had other options. Look to metropolitan areas around you and see what options are available there. You may even be able to negotiate with that local company if you find a good deal from a neighboring city.

Search Where You’ll be Moving to

In the same sense as above, nothing constitutes expanding your search quite like looking a few thousand miles away.

However, if you find a company that is near the town you’ll be moving to, give them a call. If they have a crew and trucks that will be around your current home near the date of your move, you may get a heck of a deal.

Any type of trucking service, movers included, hate to “dead head”. That’s an industry term for traveling long distance without a load. These miles are considered wasted miles. They’ll be paying for food, the driver, the crew and any maintenance related expenses without a load to offset those costs.

If they’re able to catch a load for the ride back, it’ll save them a considerable amount of money. With that knowledge in hand, convince them to pass some of those savings on to you.

Thin the Herd 

You’ve got a lot of stuff. And from the outside, it probably seems like it’s all precious and irreplaceable. But the truth is, most people end up packing and moving way more than they need to.

Take the time and commit to getting rid of anything you don’t need or use. Doing so will lower your cost of materials, labor hours and could possibly change the size of the truck you’ll be needing, which could result in huge cost savings.

Offer a Free Road trip

One regular hurdle faced by cross country movers is getting their vehicles to their new homes. If you have more than you can drive yourself, consider offering a close friend or family member a somewhat free road trip.

The costs associated with having a car shipped across the nation could be mind-bogglingly expensive depending on the vendors at your disposal. So much so, that offering to lodge a driving buddy and fly then home once you are at your destination could easily be a cheaper alternative.

Moving isn’t fun. It isn’t always easy. And it’s definitely not cheap. But we think with these tips and a well thought out plan, you can easily save your hard earned money when moving across the country.

You’ve probably spent countless nights staring at that wall covered in paneling, or the dirty tile backsplash rising from your bathroom vanity. When you first moved in, you thought to yourself- “I’ll fix that after I get settled”. Now, five years later, those eyesores are still staring back at you, laughing at the years that have gone by.

Home renovations can stress your mind, body, tolerance for your partner, and your wallet. Hidden costs and rising materials list can kill a budget before a project ever gets off the ground, driving many people to just deal with the ugly and move on.

With that in mind, we as home designers in Winnipeg wanted to assemble a few tips and tricks to help you save money while getting those dilapidated areas of your home transformed into the cover picture of your favorite magazine.

Browse the Clearance Racks

When big box stores start running low on stock of a item, and the manufacturer doesn’t intend to resupply that item, they’ll typically mark them down drastically in order to sell it quickly.

These clearance racks can oftentimes contain enough material to complete a small job, such as tiling a bathroom vanity or floor. Companies often redesign a certain style, discontinuing the old one. Just because it’s on the markdown rack doesn’t mean it didn’t sell well or was of low quality.

If you happen to live in a metropolitan area where a few of the same stores are within driving distance, call around and find out if they to have stock of that item that they are liquidating. If they do, you may be able to acquire enough for a larger project such as new hardwood floors for the foyer or new countertops for the kitchen.

Don’t Lose it, Reuse it 

For any parent of a paw patrol obsessed child, you’ll know what Rocky has to say about throwing things away. In the age of going green, simply recycling may not be enough anymore. But, reusing parts of your remodel can save you a ton of money too.

If you’re attempting a kitchen remodel, replacing cabinet doors, drawers and hardware can add hundreds, if not thousands of dollars. In a standard kitchen of fifteen cabinets and 8 drawers, replacing just the doors with a simple shaker design can cost around $300. Finish off with new drawers and hardware for all and expect to shell out a grand total of $560.

A simple sanding of the doors and drawers and a coat of paint can bring old cabinets back to life. Wash the hardware in hot, soapy water, dry and refinish with a spray paint intended for metal and your hardware looks fresh off the shelf. Two gallons of quality paint and a can of spray paint costs around $55.

Bringing History Back to Life

The United States is full of beautiful, old homes that were hand built from locally sourced materials. One of the greatest travesties is seeing someone rip up centuries old hardwood floors and slapping down a cheap knock off its place.

New, real hardwood floors can be incredibly expensive, so it may seem that the way to save money on a worn out, scuffed up floor is to replace it with a composite hardwood.

However, a little elbow grease and a rental floor sander can save you money still, while revitalizing those 150-year-old oak hardwoods. Installing a mid-grade laminate in a 150 square foot room can conservatively run you $500.

Contrast that to a rough daily rental rate of $65 for a floor sander and a further $75 for the stain and sealer, and you’ve got brand new (antique) hardwood floor for nearly a quarter of the cost.

Browse the Yard Sale Pages

For those of you who have Facebook, the marketplace can be a great way to save a ton of money on expensive materials.

Everything from flooring to siding, tile to paint, carpet to wallpaper and everything in between can routinely be found on the various “yard sale” pages.

Most of this is leftover from a larger job that people just want to be rid of and hope to recoup a little bit of money in the process. For example, one of our contributors recently refloored their laundry room and front bathroom as well as repainting their daughter’s room with leftover materials found on these pages. And for a lot less than buying the materials from a box store.

If you go this route, be mindful of safe practices when buying from people online, including meeting in a well-lit, populated area and letting someone know where and who you’ll be meeting.

Renovating your home doesn’t have to break the piggy bank, and it doesn’t have to be put off until the next owner walks in. With these four key tips, a home reno can be quick, fun, easy and cheap!

Stock graph with upward trend, symbolized with a penny

Are you looking for investment opportunities?

Many people think a lot about their future as they get older. They often think about things like how much to save for retirement. For most of these people, the answer for the last question is investing.

This is because there are many investment options and one of them is penny stocks. While new investors weigh the pros and cons of penny stocks, experienced investors have divided opinions on the matter.

Some say they are a boon for investors, while others consider them to be a curse. Today, we’ll show you what penny stocks are along with both their pros and cons. Decide for yourself whether they’re a boon or a curse by reading what’s below.

What are Penny Stocks?

Penny stocks are more than only being pennies worth money. Penny stocks are a high-risk and high-reward type of investment. This is because investment opportunities found here are often cheap compared to other options.

The reason they’re cheap is that they don’t have that many investors or they don’t have an expensive foundation to justify their price.

Often, these investment options are cheaper is because they’re small companies. They tend to be those who are down on their luck in their earlier endeavors, resulting in their current prices. They are also often the ones who get overlooked because of more popular brands in the same line of business.

If they’re a low-costing option, why are they also considered high-risk? Well, this is because investing in a penny stock gives you no guarantees.

While you can argue that all companies started off with humble beginnings, there were next to no competition back then. Today, there are a lot of big brands with higher stock values and better return guarantees. These may prevent you from getting your returns if your penny stock continues to become overshadowed.

Pros of Investing in Penny Stocks

Despite the bad press it’s gotten, penny stocks can still be a big boon for your investment portfolio. After all, if it’s all bad, no penny stock would be the best performing stock in America. All you need to do is make sure that you read into your options before you make any investment decisions.

Here are some of the benefits you can reap when you invest in a penny stock.

You can Gain More Stock While Spending Less Compared to Other Stocks

With penny stocks being cheaper than most, you can get more stocks with a smaller investment.

However, when you trade that same amount for shares in a penny stock, you can get more than expected. You can get 50 or even 100 shares of a penny stock with ease.

With how fast penny stock prices move, you will soon be thankful of how many shares you have.

Stock Prices Move Faster than Usual

Penny stock trading happens fast.

Their prices are often in constant motion on a day to day basis. This means you may soon notice that your shares are worth 10 times more than when you bought them.

Compared to the usual growth rates, which are months or sometimes even years for the prices to have a slight shift, penny stocks can give you a big return in no time. This makes it a worthwhile investment for those who need cash in their near future.

Cons of Penny Stock Investments

Like with every penny, there are 2 sides of the coin. For every benefit you get for penny trading, there is a hindrance of equal or greater value. These are some of the reasons that many people consider penny stocks to be a curse.

The Market is Volatile

One reason why penny stocks are a risky investment is that of its volatility. Popular penny stocks get a lot of attention from marketing blogs and sometimes even in the news. This makes them popular which is good for a while, but when more people join the bandwagon, it can cause it to crash.

This happens because when more people buy more shares, they drive the stock’s price up. Multiply that instance for every investor purchasing shares, and soon the prices become unsustainable. This can cause the stock to crash and become worthless as times goes on.

This may leave a lot of investors getting much less than what they paid for.

Scams are Everywhere

The reason why many people have bad opinions on penny stocks is that they’ve had bad experiences with it. Most of these experiences are because of scammers. It’s easy to disguise penny stocks into scams, what with their low prices and all.

Many people find themselves tempted to invest in something before other people find out. This is the kind of attitude scammers want their victims to have. They also don’t worry about having a solid history in their fake stock because most penny stocks are also new.

How to Buy Penny Stocks

You can never get enough penny stock tips when you’re investing in them. As mentioned above, scammers litter the penny stock scene. To avoid scams, you should take time to learn about your favored penny stock.

Even new penny stock companies have something to say about their goals. Learning about their future goals will help you discern scammers from legitimate stocks. You should also consider limiting how much you spend on each stock.

Doing this ensures you don’t lose too much money if a stock crashes. This will also help you diversify your portfolio. Speaking of diversity, when branching out, remember to only go for high-quality stocks.

You can tell if a stock is high-quality if it has a higher price than most penny stocks. This makes sure that the investments you make have more of a chance to succeed. Once you see that a stock raises in price, you should know whether it’s worth selling.

Knowing when to sell a stock is tricky.

A good rule to follow is to sell your stock once it becomes 5x what you spent on it. This makes sure that you don’t lose money and that you don’t hold on to a stock for too long. Penny stocks are more of a short-term investment, so it’s a good idea to sell when you can.

Learn About the Pros and Cons of Penny Stocks and How to Buy Stocks Today

Want to learn how to invest in penny stocks? It’s never a waste of your time to learn about the pros and cons of penny stocks. Doing this will give you the knowledge necessary to succeed with your investments.

So, what are you waiting for? Make your investments now!

Unsure of your investments? Why not hire a financial advisor? If you’re still on the fence about it, here are 5 good reasons to hire one to convince you.