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dealing with debt and a financially irresponsible spouse


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dealing with debt and a financially irresponsible spouse

I am married to a man that isn't exactly financially responsible. When he finds something that he wants, he will do whatever is necessary to buy it. This has caused us a lot of debt over the years. What can you do when you are married to someone that doesn't take being in debt seriously? How do you approach him or her about their spending habits? I have worked with a financial professional to learn how to manage my money, how to discuss our money problems with my husband and to learn how to reduce my debt as quickly as possible. Find all this information and more here on my blog.

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5 Tips to Know if You Start Buying Gold Bullion Coins

Gold is always a great investment because it doesn't lose value the same way paper money does. One way to invest in gold is to collect gold bullion coins. If you are interested in becoming a gold coin collector, check out these five tips you should know before you start.

Stay Away from Rare Coins

People tend to associate "rare" with "valuable," but it isn't quite so simple. A rare coin could be worth a lot of money if a lot of people want it. However, a rare coin that nobody wants isn't valuable, even if it's unique. When you start buying rare coins, you need a lot of education and experience. In fact, even people with training in rare coins can get fooled, so it's common to hire a professional to appraise the rare coins, but that could end up being a waste of money if the coin ends up being worthless.

Learn Which Coins Are Most Popular

The more popular the coin, the higher its value. The more people who want the coins, the more they are worth, so you need to learn which coins are the most popular. Popular coins tend to have a few features in common. First, they are attractive. Second, the coins are well-established and have a lot of circulation. Last, they have a gold purity of at least 22K. Some of the best gold bullion coins to invest include the American Eagle, Canadian Maple Leaf Gold Coin, the Australian Kangaroo Gold Coin, and the Chinese Panda Gold Coin.

Shop Around but Stick With Professionals

When buying gold bullion coins, you may get tricked if you aren't careful. Everyone is going to have their own price for the same coin, so you'll need to do some comparison shopping to find the best price. Just make sure you stick with professionals because they won't try to tick you. In fact, when you shop with dealers who are part of the Professional Numismatists Guild (PNG), you won't get fooled into buying coins that aren't really worth much, buying counterfeit coins, getting overcharged or experience high pressure sales tactics. That's because PNG members must follow the Coin Collectors' Bill of Rights.

Check the Premium

Part of the cost of gold bullion coins is actually called the premium. Most types of gold have a premium. It's the money that pays for the production costs. Since gold bullion coins require a little bit more work to craft than other types of gold (because they feature pictures and other intricate details), the premium is usually higher. The premium for gold coins is about 5 to 10 percent, so if someone is trying to charge you more than that, you should go somewhere else to compare. It's important to understand the premium because some coins have higher premiums than others that are worth the same.  

Know Where to Store Them

Before you purchase your first gold bullion coin, figure out where you're going to store them. They're nice to look at, but you probably don't want to display them in your home where they can be easily spotted and stolen. They are an investment, so you need to protect them as such. If you want to keep them at home, you should probably get a safe. Of course, if you don't mind keeping them outside of your home, a safety deposit box is just as effective.

It's fun to find new ways to invest your money, and buying gold bullion coins could be your next big opportunity. However, as with any investment, it's best to educate yourself, so you don't end up losing money. If you are ready to become a collector, consult companies like Rocky Mountain Gold & Silver Exchange to learn more.