Getting Your Child Involved in Saving for College

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Getting Your Child Involved in Saving for College
As a parent, you look forward to every milestone in your child’s life. It starts with the first smile. Then there is the first step, the first day of school, and riding a bike. Before you know it, your child is in high school and rapidly preparing for life’s next big step. College. While college ... Read More about Getting Your Child Involved in Saving for College The post Getting Your Child Involved in Saving for College appeared first on Penny Pinchin' Mom. [...]
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What will trigger Wall Street Adoption of Bitcoin?

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What will trigger Wall Street Adoption of Bitcoin?
Editor’s Note: this is the 6th post on Daily Fintech, written in 2014 – well before the ICO wild days of 2017. To give our authors a break over the holidays, we are re-posting from our archive of over 1,000 articles. Rather than pick favourites we elected to simply repost the first 8 articles (as that was over 5 years ago you may have missed them; we were pretty unknown then).  As we close out 2019, make a resolution to be smarter about Fintech in 2020 by subscribing for just US$143 a year (= $0.39 per day). You will get all our fresh daily insights and participate in our forum. You can also read our archives with over 1,000 articles, an example of which you are reading from over 5 years ago. We look forward to welcoming you to the Daily Fintech membership community today! This is one of a series called Explorations down the Bitcoin rabbit hole. Bitcoin is: 1. A payment network 2. A currency 3. A store of value. So far I have focused on 1 & 2. In this post, I am focused on 3. Call it a currency or call it a commodity (as the IRS does), the store of value question is simply “will I get a better risk-adjusted total return than other alternatives?” Let’s parse that question for Bitcoin: “Total return”. This means capital appreciation PLUS Interest (Bonds) and Dividends (Equity). You receive no Interest or Dividends if you hold Bitcoin. Indeed the cost of Cold Storage makes it a cost to own Bitcoin. “risk-adjusted”. Bitcoin is more like Gold, which also pays no Interest or Dividend and you pay to store it in a vault. Gold has thousands of years of price history, Bitcoin about 5. It is inconceivable that Gold value will decline to zero. It is possible that Bitcoin will decline to zero; unlikely but possible. It is inconceivable to forecast a 10x or 100x return for Gold but one can paint many scenarios in which the price of Bitcoin will be 10x more than it is today (which makes it a 100x return for early speculators and miners). So, you might lose everything or you might get a 10x or 100x return. Does that sound familiar? Or course it does, this is like investing in tech startups. If this is like investing in startups, what stage is the deal? Is this Seed or Series A or B or C or is it IPO stage? I don’t think it is Seed stage. That was investing in Bitcoin in 2010. Today it is more like a Series A deal. You probably won’t lose everything at a Series A stage (a lot of the risk has been taken out by the time a venture gets to Series A). So the upside is also more constrained. Some ventures do get a 100x return from Series A valuation but 10x is a more reasonable expectation. It is easy to paint the scenario in which Bitcoin declines to zero. Merchant adoption stalls and a better cyber currency emerges to replace Bitcoin. To paint the 10x or more picture, we have to imagine things like: People in a significant sized economy with a failing currency (think Argentina, more than Zimbabwe which is too small an economy to make a difference) decide to use Bitcoin rather than US$. This sounds plausible enough until you try to imagine the actual scene where the black market guys exchange tourist dollars for Bitcoins and then the tourist offers Bitcoins to the vendor. Rich people worried about taxation, store their money offshore in Bitcoin rather than in US$. Again this sounds plausible, except for one inconvenient fact, which is that this is viewed as money laundering in most jurisdictions i.e. illegal. If somebody does this illegally, they won’t want to keep it in Bitcoin, they will want to turn it back to Fiat and get Interest and Dividends. Gold bugs become Bitcoin hoarders. Despite a libertarian bent to both communities, I see this as unlikely. Gold bugs love the fact that it is physical and has thousands of years of history. If any of the above scenarios pans out, fast money such as Hedge Funds and retail currency speculators will pile into Bitcoin and then there will be “meltup” in price. That will lead to more hoarding and so more price rises. What I find hard to see is what sort of investor will feel drawn to this type of risk/return. If you like 10x or 100X upside with the possibility of 100% loss, you will be drawn to investing in startups. If Bitcoin succeeds as a payment network, it won’t have much impact on the price, it will just be an enabler for lower cost payments. For bitcoin to succeed as a currency it needs to become boring and non-volatile, floating up a down compared to Fiat currencies like USD floats up and down compared to EUR. Speculators will find something else to play with. For Wall Street to get really comfortable with investing in bitcoin, they will want an ability to short bitcoin. That of course will help to stabilize the price and ensure that it is less volatile, which will make it less attractive to speculators. Of course, the reality is that Wall Street does not need to get comfortable with investing in Bitcoin, they just need others to get comfortable. If Wall Street firms can earn fees and commissions from selling Bitcoin, they will do so and many will become rich from doing this even if investors actually lose money (“where are the customer’s yachts?”). These periods of irrational investing last longer than a rational person might expect, but they do eventually implode. Personally, I prefer the risk/reward of tech startups and I think that Bitcoin the payment network and bitcoin the currency is fundamentally at odds with the volatility that speculators love. If Bitcoin does become a viable currency, it can be traded just like any other currency and will have similar levels of volatility, which still leaves plenty of room for intra day trading to make money. This is one of a series called Explorations down the Bitcoin rabbit hole. As we close out 2019, make a resolution to be smarter about Fintech in 2020 by subscribing for just US$143 a year (= $0.39 per day). You will get all our fresh daily insights and participate in our forum. You can also read our archives with over 1,000 articles, an example of which you are reading from over 5 years ago. We look forward to welcoming you to the Daily Fintech membership community today! The post What will trigger Wall Street Adoption of Bitcoin? appeared first on Daily Fintech. [...]
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25 Holiday Items You Should Buy at a Dollar Store

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25 Holiday Items You Should Buy at a Dollar Store
Impact Photography / Shutterstock.com Holiday shoppers plan to spend 4% more in 2019 than they did in 2018, according to a survey by the National Retail Federation. That translates to each consumer spending $1,048, on average, during this holiday season. There’s plenty to spend on, too. With gifts, decor, entertaining and more to fund, it’s not uncommon to spend hundreds of dollars... [...]
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15 Ways to Eat Out on the Cheap

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15 Ways to Eat Out on the Cheap
Want some tips on how to eat out on the cheap? Here are 15 tried and true ideas to help you enjoy restaurant food — on a budget. How to Eat Out on the Cheap Love eating out? Don’t love how much it can cost? Here are 15 ideas to save money on eating out:a 1. Go out to lunch instead of dinner. 2. Always use restaurant coupons. 3. Order water instead of beverages that cost. 4. Split an entree with someone else when possible. 5. Sign up for Birthday Freebies and use those when you eat out. 6. Go out for dessert instead of a full meal. 7. Use restaurant gift cards that you bought discounted. 8. Sign up for restaurant apps and email lists to be notified of great coupons and specials — or even freebies! 9. Earn free restaurant gift cards from Shopkick, Fetch, and Swagbucks. 10. Go on Kids’ Eat Free nights. 11. Eat a snack before you leave the house so you’re not as hungry. 12. Don’t order appetizers or desserts. 13. Eat out at Costco or IKEA instead of a restaurant. 14. Apply to be a mystery shopper and you could get paid to eat out! (I have done this many times in the past!) 15. Go to a fast food restaurant with a dollar menu and let everyone choose 1-3 items off the dollar menu! What are your favorite tips for saving money on eating out? Share them in the comments! P.S. For more ideas, check out this post on How to Save Money on Eating Out. [...]
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FINRA Issues Regulatory Notice Reminding Members of the SEC’s Adoption of a Best Interest Standard of Conduct

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FINRA Issues Regulatory Notice Reminding Members of the SEC’s Adoption of a Best Interest Standard of Conduct
On August 7, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 19-26, reminding members of the Securities and Exchange Commission’s (SEC) adoption of a “best interest” standard of conduct for broker-dealers and a relationship summary (Form CRS) delivery obligation. Regulation Best Interest (Reg BI), adopted by the SEC on June 5, 2019, establishes a “best interest” standard of conduct for broker-dealers and associated persons making a recommendation of any securities transaction or investment strategy involving securities to a retail customer. Other new rules and forms were adopted that will require broker-dealers and investment advisers to provide a Form CRS to retail investors. Firms must comply with Reg BI and the Form CRS delivery obligation by June 30, 2020. In connection with the new rules, a staff committee with representatives from the SEC’s Division of Investment Management, Division of Trading and Markets, Division of Economic and Risk Analysis, Office of Compliance Inspections and Examinations and Office of the General Counsel was established to assist firms with planning for implementation. Firms may send any questions by email to IABDQuestions@sec.gov. In addition, FINRA will produce written and online content and hold in-person meetings and workshops to assist firms with their implementation efforts. A webpage is also available for members to obtain information about the new rules. The Notice is available here. [...]
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Afternoon Deals: Saturday, August 3

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Afternoon Deals: Saturday, August 3
Every morning and afternoon we publish a list of the latest and best deals from our partner, DealNews. To learn more about the discounts and details, click on any of the deals for more information. To have this list, along with our latest news and stories, delivered daily to your inbox, sign up for our free newsletter. For links to deals as they’re published, follow @mtndeals on Twitter. [...]
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Read Up, Parents! 14 Simple Ways to Get Free Kids’ Books

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Read Up, Parents! 14 Simple Ways to Get Free Kids’ Books
Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners. What’s better than curling up with a good book? Or, better yet, a series of books? “Little House on the Prairie,” “The Baby-Sitters Club” or “The Boxcar Children,” anyone? But books can get pricy. How can you find books for your little ones to read without spending a fortune? By getting free books, of course. While it’s great to support authors whenever possible, sometimes buying new books just isn’t in the family budget — and you don’t want to deprive your kids of the love of reading How to Get Free Books for Kids Use these strategies to get free books for kids. Some are physical books and others are PDFs or ebooks, but they all offer great ways to give kids access to a wide variety of reading material — without spending a cent. 1. Imagination Library Dolly Parton loves reading so much, she wants every child to have the opportunity. In 1995, the country music superstar started Imagination Library to give free books to children in her home county in Tennessee. She wanted to help preschool-aged children develop a love of reading, even if their families couldn’t afford books. In 2000, she expanded the program, partnering with local communities to send more than 60 million books to kids in the U.S., Canada and the U.K. Local partners include preschool programs, libraries and service organizations along with many other groups. To get free books for your child, check the program availability in your area, then follow the instructions to get registered. 2. Free Kids Books Download free PDFs from this online library of kids’ books. With picture books for toddlers, books with pictures and words for bigger kids and chapter books for young adults, this site has something for everyone. You can even get coloring books. The site recommends printing the PDFs and stapling the pages together — or reading them on a tablet or other electronic device. Titles include classics like “The Tale of Mrs. Tittlemouse” by Beatrix Potter and  newer ones like “Wilbur the Lost Whale,” about a whale who reunites with his family in a conservation area. 3. Barnes & Noble Summer Reading Program Kids in first through sixth grades can earn a free book by filling out the Summer Reading Journal. Just have your kids read eight books and write about their favorite parts of each one in the journal. Bring the journal into a local Barnes & Noble between Aug. 1 and Aug. 31, and your kids can pick out a book from a selected list. 4. Read Conmigo Immerse your children in pre-k through fifth grade bilingual reading by signing up for Read Conmigo. If you live in California, Florida or Texas, the program will mail you a book every four months. Online resources like bilingual activities and educational tools are available to everyone, regardless of location. The program also offers free ebooks that are compatible with most Apple iOS, Amazon Kindle and Android devices. More than 108,000 parents have signed up for the program since it started in 2011. 5. Little Free Libraries Neighborhoods all over the country are adding Little Free Libraries. These small shelves allow people to share books and always have something new to read. Find a free library near you, leave a book you’ve finished and grab a new one to share. Different libraries will have different offerings. 6. Craigslist, Freecycle and Facebook If you’re looking for some kids’ books, why not put up a “wanted” post on Craigslist, Freecycle or even Facebook? Plenty of people have books they’re not using and would be happy to share, but it’s not on their minds unless you ask. 7. Libraries Of course, your local public library has plenty of books to borrow for free. This is a great option for families who like to constantly switch up their reading selections. But some libraries will even have books you can keep, such as older books they’re planning on tossing out. Ask your local librarian if they may have any available. FROM THE SAVE MONEY FORUM Do You Ever Pick up A Stray Penny? 2/7/19 @ 5:27 PM Do drive-in movie theaters save you money? 7/1/19 @ 7:38 PM What to buy (and not buy) from Fourth of July Sales 2019 6/27/19 @ 1:00 PM M Airfare 6/24/19 @ 5:19 PM See more in Save Money or ask a money question How to Get Free Online Books for Kids Ebooks are increasingly becoming more popular with readers, and that includes young ones.  Here are several sites where you can find free online books for kids. 8. Amazon Free Books Amazon has a ton of free kids’ books available for Kindle downloads. Just search for “children’s books, Kindle edition” and sort price “low to high” to see all the freebies. Plenty of books are available to download, from “Wiggly the Worm” to “Diary of a Private School Kid.”  A couple of other sites also make it easy to find free kids books in Kindle format, including eReaderIQ and Goodreads. 9. Amazon Prime Kindle Owners’ Lending Library Amazon Prime members can borrow books for free through the Kindle Owners’ Lending Library, which allows users to borrow one book each calendar month. The program offers a wide range of kids’ books to pick from, but you’ll need a Kindle (and a Prime membership) to read them. 10. Project Gutenberg While mostly for older kids, Project Gutenberg has a wealth of free downloads available. Type “children” in the search field and classic kids’ books will appear, from “The Tale of Peter Rabbit” to “Peter Pan” to “Anne of Green Gables” and many other favorites. The site offers a total of over 59,000 ebooks to download for free, including many books for kids. 11. ManyBooks Launched in 2004, ManyBooks aims to create an extensive library of digital books that are available for free on the internet. The site adds new books on a near-daily basis, including an entire section dedicated to kids’ books The books are available for download in a variety of formats and can also be read on the site itself using ManyBooks’ online ereader. 12. Free Children Stories The founders of Free Children Stories set up the site in 2008 as a way of offering quality storytelling to every child, parent or teacher with internet access. The site has a variety of books for all ages, and even offers audio readings of the books for kids who like having a grown-up read to them. 13. Read.gov The Library of Congress has put dozens of classic kids books online for free, including “Anne of Green Gables” and “White Fang.” The ebooks can be read using the Library’s online e-reader, and the ebooks themselves are scans of the original books held in the library’s collection. 14. International Children’s Digital Library The International Children’s Digital Library was established to provide a collection of digital children’s books from around the world. It contains more than 4,600 books in 59 languages, including Spanish, French, Farsi and even Mongolian. Kristen Pope is a freelance writer and editor in Jackson Hole, Wyoming. Editor Caitlin Constantine contributed to this post. This was originally published on The Penny Hoarder, wh [...]
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