Category Archives: Finance

Don’t Treat Your Finance Like a Casino

So many people treat their finance like a casino and gamble on way too many things that often end up like a casino bet, going to the house! Not only is proper financial planning required, but also the necessity to reduce any and all risk whenever possible. Gambling with your own money, or at least on a large scale is not advisable for long term financial security.

If you like to play around with the stock market, then always remember that this is financial gambling as well, so only do this with money you can spare, and not money that you could put away for a safer investment. Yes, of course the stocks can pay off, and pay off big when you get it right, but they can also drain your funds and savings very quickly if you get it wrong.

Also, if you want to play around in the stock market, you have to know what you are doing. You can’t just go in there with your eyes partially closed and expect to come out a winner. It does not work like that, but still people go in with this blind approach, and they quickly get gobbled up by the markets and spat out again with an empty wallet.

You need to set the majority of your wealth up in a secure way that will make you money over time without being exposed to the clear and present perils of the high-risk stock markets present. A lot of time people learn from experience and by getting burned. This is okay, as long as you do not get burned too badly the first time around. It is always good for people to see the risk of playing the markets, so losing out the first time can actually be a good thing for your long term outlook.

The Importance of a Credit Report

Credit Report

Credit Report

You may think that as long as you pay your monthly bills on time (or even a few days afterward) and don’t rack up a huge debt, there’s no need to check your credit report. However, you shouldn’t only check your credit report when you’re trying to buy a car, get a loan, or make any other major purchase with credit. Many credit reporting services, such as, recommend that you check your credit at least once a year in order to ensure that the information on the report is factual and that there’s no delinquent charges that you don’t recognize.

What a Bad Credit Report Can Affect

Not knowing what is on your credit report and failing to clean up even small mobile charges can have a negative impact on your ability to get a loan when you need it the most. Landlords check your credit report when you apply for a rental because they want to know whether or not you’re a dependable person. This is why it’s important to pay your bills a day before they are due. Late payments are listed on your credit report, which may cause you to be turned away by a landlord if he or she believes you won’t pay on time.

Fraudulent Charges

It’s important that you check your credit report once a year to ensure that you haven’t fallen victim to identity theft or credit card fraud. This is especially important if you shop online, as someone could obtain your credit card number digitally and rack up thousands of dollars of credit card debt before you’re even aware of it. Obtaining a copy of your report and ensuring that you recognize all of the charges and data it contains will save you a great deal of time and heartache later on down the road.

Can casinos be safe?

Absolutely! You can safely play some of the best casino games on Captain Cooks Casino.


This Time It is Personal: Protecting Personal Finances

Whether you’re a seasoned business owner with years of experience, or you’re just starting out as the owner of a business, you likely understand the risks and the concept that your business may not be a success. It’s an unfortunate reality of business ownership, but it’s important to take that reality into consideration, and follow the proper steps to protect your personal finances from the downside risks of being a business owner. It’s not like a game of Roulette, you need to take this very seriously and not gamble on your future.

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How to Improve Your Chances of Getting a Loan

Create the Appropriate Entity

Many business owners opt to go the route of operating as a sole proprietorship because it’s simple, but this isn’t often the best way to protect your personal assets. If you operate in this manner, you’re exposing your home and personal property to potential lawsuits and financial liability.
It’s best to operate a business under the protection of a corporation or limited liability company. If you do create an LLC, it’s also best to include the name of at least one other individual, whether it be a spouse, or someone else, to prevent the ability to prove that an LLC and an individual are the same.

Separate all Finances Accordingly

Keep business and personal finances completely separate. The documentation of a separate entity doesn’t provide enough protection—instead, use your company name on all documents, maintain separate accounts, and keep all documentation up-to-date and accurate.

Limit Ownership of Assets

As a business owner, it’s always a good idea to try and avoid outright ownership of assets. For example, lease when possible, because this leaves fewer assets open to the potential of seizure.

Maintain Adequate Insurance

Often, business owners will feel a false sense of security because they hide their personal assets or create an entity, but this is not adequate to protect personal assets. Instead, business insurance will give you protection against people who may be after your assets. Rather than targeting your personal assets, they can instead target your insurance policies.