Archive for October, 2007

Precious metals investing can be a very lucrative investment strategy, especially during times when there is little faith in the value of the US Dollar. People look for new places to put their money and silver could be that place for you. However, if you’re in debt, like credit card debt, you may need to work hard to erase that debt so you can start investing wisely.

This article should give you some good pointers and resources to help you have proper debt management and enough money to invest in precious metals.

The first thing you need to do is develop a plan to erase your credit card debt. Carrying balances from month to month on high interest credit cards for purchases like movies, dinners, handbags, and more will get you no where fast. You need to create a plan and find out how long it will take you to get rid of that debt at your current APR. We suggest using this credit card payment calculator to get you started.

After you find out what your payments on your current APR are, find the next highest APR you can handle on your current budget. After this find out what your payment schedule would be with 0%. Plan for several scenarios.

Now find credit cards with APRs that fit one of these plans. Start with the best and then move your way down. If you find yourself back to where you started, start over and look harder. If you find yourself stuck maybe you should look into getting a debt management program to help you out. These can really push you to find good rates and get out of debt sooner.

Once you get out of debt, stay out of debt. Once you save a little money and are ready to invest, now look into precious metals as an option. You may like what you see, especially if the dollar is down.

A lot of times when people buy a stock, they buy it using margin. In other words they use other peoples money to buy the stock. If the stock goes up, they win, if the stock goes down, they loose and since they didn’t have the money to begin with they might not be able to cover the loss if it’s too great.

People are also doing this with precious metals since you can buy them off the internet. Doing this too much, in a risky investment can make you so in debt that you’ll need to start trying to avoid bankruptcy. If you find yourself in a position where you’ve bought too much silver or gold on your credit cards and you can’t pay off your balances you need to look into how to control your credit cards.

One way to do this is to actively look into credit card consolidation. Combine your balances, look for a new interest rate, and start paying off the principle. This is especially daunting when you’re sitting on a lot of silver or gold and you don’t want to sell because the price is low. You may have to wait out a down time, with your credit cards racking up finance charges, while you pay the minimum. Get those charges lower with lower APR.

If you find that you can’t shift your debt and you need more help than you thought look into acredit card debt relief service. You’ve probably seen some late night infomercials on these services, well they’re real and they can help you out. You just need to look around for the right service that fits your debt needs.

Get out there and take control of your debt so you can get back on the precious metals investing circuit and get on it in a good financial way.

As the value of the US dollar turns south a lot of people are looking at what else to put their money in besides the stock market and savings. People look to financial analysts, books, and online resources to get any and all information they can about where they should go with those sinking dollars. That’s why we want to expand your resources and let you know about an investing blog we found called InvestingBlog.org.

They’ve got lots of great articles to help you learn along with regular updates to keep you posted on how your particular markets are going. Some of the markets our readers might be interested in reading about aside from the traditional markets are for starters the futures and commodities markets.

You probably came to this blog because you’re interested in silver, which is traded in these markets. You can follow what’s happening and learn about other possible plays in these markets besides just investing in silver.

Another market that you might be interested in research while the dollar is down is the forex market or foreign exchange. Why put all your money in US dollars, especially if other markets are beating the pants off the US Dollar. You want to maximize profit. Keep up to date with their posts.

All in all you want to just keep searching for more and more financial resources. The one we mentioned is a good one but there are plenty more out there. We’ll keep sending them your way but in the mean time check our InvestingBlog.org.

There are hundreds of things that affect the price of silver. From the New York Stock Exchange to the price of oil, to the way the daisies are growing in Idaho. But to better estimate which way the price might go, and be better prepared, a silver investor should know a little bit about the history of some of the markets that effect it.

This site all about the stock market gives you information on not only the NYSE but also other markets around the world. Silver is traded world wide and no matter where you are, there’s probably a stock market molding how your business market is being run.

Knowing about these different markets, even if it’s just that they exist, can give you a leg up on a silver investor who only thinks the dollar and the New York Stock Exchange push the price of silver around. Going further than just that they exist, being able to answer the question how does the stock market work is also going to help any silver investor.

With that simple information one can know how the price of a silver mining company gives insight into how next years silver is going to fair. If the price is plummeting, you need to ask why it’s doing so, and if you can answer why, bad managment?, broken machines?, not finding silver? If you can answer those questions you’re on your way to a better silver price estimation.

Also able to help you out is knowing what’s happened in the past. Knowing events of great stock exchanges like the stock market crash of 1929 or the bubble burst of 2000.

Knowing all this information can help you become a more savvy silver investor and increase your bottom line.

From time to time Blog Silver gets asked to review websites that pertains to the readers here. The website Bankaholic.com was especially interesting seeing as how the writer here has been looking around for credit cards that fit my needs. So I thought I’d share some helpful pages found over there.

The first one that’s eye catching is best credit cards for students page. Student or not this is a great page that links you to all different types of credit cards to fit your needs. Gasoline refunds, cash back, airline miles, whatever you’re looking for skip the google search and check out that page.

If you’re not sure if you can get a credit card because your credit might not be the best they have a full page of instant approval credit cards. Just following the links and get approved for some quick credit. Although we suggest you ask a financial advisor before getting a ton of cards, it’s a great page to get you started.

Lastly, shifting away from credit cards, and more towards investors who come to this site, Bankaholic.com has a great listing of online resources to get high interest savings accounts. I didn’t know 90% of these existed as the list is 31 online banks long. With the markets so shaky and no one knowing where to put their money maybe this is a good place to look.