Why should I care about Gold?

Jan 2, 2015 by

So, almost daily we hear about gold prices going up, whether it’s on a commercial or whatever.  People are willing to buy your scrap gold and old gold for decent prices. Gold prices seem to be doing incredibly well, and they continue to close higher and higher every day. But why are people so dependent on gold, and why does it matter to those of us who are investing our money into the market?

 

The Gold Standard

goldinvestingMost economic systems used to have what was called a gold standard, that is, the money in the system was based off of gold, and each bill had a certain amount of gold backing. As time has gone on, this has changed. That hundred dollar bill does NOT have $100 worth of gold backing it. What gives the American dollar its value is the fact that it is the American dollar. It is completely psychological.

So, as the economy went into recession, the confidence that people once had in the American dollar (and actually, most world currencies are the same way with the global economy as a whole was going into a recession) went with it. Thus, the value of a dollar goes down, causing inflation. If there is nothing backing up a currency but your mind, then the inflation value is going to occur a lot more quickly than if there is physical backing to your money.

 

So Why Does Gold Matter?

 

Where does gold come into this? Well, the thing is, gold was the original currency. It will always have some sort of value, because it is a rare and precious metal. As stocks and such change in value every single day, gold maintains it. The stability that possessing gold provides far surpasses the stability of any other currency or metal (except perhaps silver, which has also gained popularity).

Gold value has increased significantly this year, as the economy continues to get better and unemployment continues to decrease significantly. People are still nervous about their investments, however, so they’re investing in something that doesn’t lose value as quickly as world currencies do.

Is it worth it to sell your scrap precious metal for it? I’m not sure. I assume that part of it is overreacting, but it is always good to make sure that your investments are safe and secure, especially when the economy is as unstable as it is at the moment. Talk to professionals, look at your options, and always do research before you invest your money in anything.

 

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Last Minute Holiday Shopping

Dec 20, 2014 by

last minute atuodealer shopping

Whether you own a business or you’re looking to support local businesses, there are a lot of things you can do when you’re getting ready to finish your holiday shopping.

 

Here are some tips you can try:

Make a list. List EVERYTHING.  Who do you want to buy for? How much do you want to spend on that person? If you’re really organized, you can even write down exactly what you’re going to get that person. The internet makes that so much easier; you can browse before you go.

Plan a gift exchange. If your budget is tight, chances are, your friends and/or family are having a rough time too. Suggest having a “secret Santa” gift exchange, where you and your friends get together, pick names out of a hat, and then you just have to buy for one person. Great gifts can be services as well, not only expensive products. Once I purchased a classic cars care services ticket for my brother – which was not expensive at all, and he went crazy over it!

Budget, Make sure that your budget lines up with the amounts of money that you plan on spending on each person. If they don’t, try to cut some costs.

Use cash when you can. Try your hardest not to charge unless you have to. Credit cards make us have a tendency to overspend. Christmas club accounts are great for saving up money for this time of year.

Always check prices. Just because one retail store is offering that flat-panel TV for $599 doesn’t mean it’s a good deal. A lot of times, we tend to see “sale” and don’t check to see if it’s really a good sale or not. You may be able to find that same TV online from a different retail store for $549.

Don’t hesitate to shop at home. No lines, no hassle, no big bags and unloading the car. Press that “Purchase” button and you’re done. Sometimes, the online deals are the same exact thing you’ll find in stores or better, and a lot of places offer free shipping when you spend over a certain dollar amount.

Price matching. Many retailers offer price-matching offers. If you don’t want to hit multiple places, or if you aren’t near a certain retail store, take their flyer to a store that offers to discount their prices to other stores. You save time and money!

Keep your receipts. Most stores offer gift receipts now. Just in case you buy something someone doesn’t like, or doesn’t fit, or that they want to exchange, these things make it so much easier to deal with. 

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