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It is important to us that you grow your knowledge about commerce and finances. Please learn more about those topics through our blog.

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Staying in the Green: How You Can Avoid Financial Issues In the Future

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We received quite a bit of feedback regarding the common financial problems people find them in. There were requests for an article on how to avoid or even combat those problems. This is what we shall be focusing on today.

Here are a few tried and tested tips on how you can avoid financial issues in the future:

Create a Budget

Everything starts with a budget. It may not be the most pleasant thing to do at times but it is fully necessary to put down on paper the essentials:

  • Financial influx
  • Expenses
  • Savings

Yes, savings must always be part of a budget. After all, if you aren’t putting something away every time you get paid, you are setting yourself up for difficulty in the future. Creating a budget might be challenging but thankfully there are now a lot of online help and even mobile apps that can get you started!

Practice Discipline

Everything hinges on personal discipline and accountability. If you keep lying to yourself that it’s okay to deviate from the budget or to get something that you just want—as opposed to a full need—you’ll just keep making the same mistakes.

This is probably harder than setting a budget but you have to keep your eye on the larger picture here. Is there something that you’re saving up for? What is your financial goal (both short term and long term) for the year? Keeping your eye on these can help shore up your discipline.

Grow Your Knowledge

At the end of the day, it is your personal working knowledge of your finances that will end up saving you. This is why it is absolutely critical that you grow your knowledge regarding finances, basic accounting, and even keeping an eye on the local commerce.

You can join classes, read books, or even join forums on social media. Being an active participant in growing your understanding of finances can help to make the difference between financial success and doom.

We hope that these tips will find you well and will help you better keep financial issues at bay!

 

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What Do People in Tennessee Do If They Want to Gamble?

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A couple of articles back we mentioned that Tennessee has some of the strictest gambling laws around. This got us to thinking: what do people in TN do if they do want to gamble? This is an interesting idea for us to explore as most people are quick to dismiss gambling as something foolish even though according to usgamblingsites.com it’s quite prevalent across the country.

We started asking around the office and got to talking about what some of us do if they want to relax a bit and earn a little along the way.

The Issue

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For the longest time, TN unilaterally considered most—if not all—forms of gambling to be illegal. There are a few that managed to escape that rule but the things that are usually allowed somewhere else like poker, roulette, blackjack are completely banned.

Gambling doesn’t always have to be about money. It can be an activity that people can enjoy because they are good at it. It can even be a friendly game. However, once money starts to be involved, the law becomes involved as well.

Band-Aid Solutions

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That being the issue, here are a few band-aid solutions that some avid gamblers do if they are residents of Tennessee yet wanted to gamble:

Cross State Lines

While TN doesn’t have any casinos or gambling halls, Mississippi has a lot of them, however. The band-aid solution would be to plan a trip and take a drive across state lines and go into a state where gambling is allowed.

Stick to Allowed Forms

When you’ve got slim pickings, can you still afford to be picky? Many TN gamblers simply belly up and make do with what they have to choose from. While most forms of sports betting is not allowed, horse racing is okay by the law.

While the law remains this way, these are the only things that TN residents can do. Do you gamble? What band-aid solution do you have when you crave to play?

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Determining Sources: Common Money Issues People Find Themselves In

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In the topic of money and commerce, there is often a lot of struggle that is involved. Despite best intentions, many find themselves falling into some pretty common money problems and issues. WE believe that in order to avoid the problem, one does need to know that it is a problem to begin with.

That being said, we would like to share some of the more common money issues that we have come across in our field of work:

Paycheck to Paycheck Existence

As soon as we graduate (or even while we are pursuing education), we get jobs that help us pay for the other things in our life like rent, food, clothes, gas, heating, etc. Most people find themselves living in a sort of paycheck to paycheck existence. They are only making enough to survive and none at all to put away and allow to grow into something more.

If the money is only enough to breakeven, you will never get anywhere.

Exorbitant Living Expenses

Needs and wants are completely separate. People are creatures of habit and of comfort. We tend to stay where we are comfortable. This can often involve keeping up with friends who have a bigger spending capacity. If you find yourself running out of money as soon as it gets there, you may need to reconsider your living expenses and your lifestyle.

Exorbitant living expenses are a sure trip to financial trouble in the future.

Incidentals

Unforeseen can happen in a blink of an eye. You may think that you’re solid in one moment and find yourself facing an exorbitant bill because you or someone in your family got ill. Sudden loss of income is a very real possibility and those that do not consider this end up with pretty much nothing.

These three things that we’ve mentioned are some of the more common money issues that we have come across. We hope that identifying them will help you better avoid them in your life.

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Earning a Little Extra: What Forms of Gambling is Legal in Tennessee?

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The state of Tennessee is well known for a lot of things like music, famous individuals, and our very strict gambling laws. This, however, does not imply that all gambling is banned. There are a few forms of gambling that are actually considered legal.

This is what we shall be focusing on in today’s discussion. Here are a few forms of gambling that is actually legal in TN:

Online Gambling in Offshore Sites

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Online gambling has been legalized in several other states in the USA. Tennessee is not one of those states. However, this does not mean that her citizens are completely denied the ease and fun of online gambling websites.

The caveat is that online gambling is allowed only if people play using offshore sites. If you gamble using a local website, that can land you in hot water! It would be best to stick to those that stem from Europe or other parts of the world.

Horse Racing Betting

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Sports-betting is often unilaterally disallowed and considered illegal in TN. However, there is something that is allowed: betting on horse racing. Horse racing is something that has long been a traditional sport. It is something that has quite an age on it and generally involves money. This is because of the fact that horse racing requires breeding, training, upkeep of animals, and so many other things.

Being able to place a bet on a winner can help breeders and trainers recoup their losses and their investment.

Official State Lottery

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Much like other states, TN has a lottery. The biggest difference is that it is the official state lottery. There are no other forms that can be found in TN. If someone wanted to go buy a scratch card or a power ball ticket, they will not find them here.

These are some of the rare forms of gambling that has been allowed in Tennessee. What other forms of gambling are legal here; do you know?

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Knowing the Right Answer: Why Is Financial Literacy So Important?

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When it comes to the topic of commerce, finances often play an integral part. If you want to be able to participate in the active buying and selling of things, you need financial literacy. We emphasize “buying and selling” because this is the basic concept of what commerce is.

Here are a few reasons why financial literacy is so important:

Financial Planning

Finances—whether it comes to obtaining it, spending it, or keeping it—will always need careful planning. If people just spend their money or do not value how it is attained, it will always slip through fingers.

If there is anything that is horrid in life, it is not having enough money. When you don’t have any of that, how are you supposed to eat or survive?

Mitigating Losses

Losses can always happen no matter how meticulous your planning is. Financial literacy can help you bounce back from losses because you’ll have a good eye fixed on the larger picture. Instead of just focusing on why you lost money, you can use financial literacy to determine how you can make sure that will never happen to you again.

The ability to mitigate your losses is something that financial literacy can help you with.

Financial Stability

Once you have a pretty good handle of how your money moves, you can better anticipate where you’re strong and where you are vulnerable. When you are able to focus on maximizing your strengths and minimizing your vulnerabilities, financial literacy can help you unlock financial stability.

At the end of the day, isn’t this really what we all want?

We hope that the reasons that we have given regarding the importance of financial stability will help galvanize your opinion toward it. We’d love to know your thoughts, however. Why do YOU think it’s important?

Financial Literacy 101

From Visually.