BlackBerry's Return to Fame and Fortune

Many people are surprised that BlackBerry (BB) is still around after the invention of the iPhone rendered it obsolete. But the company survived by reinventing itself. First, it became a mobile security software company. Then, it partnered with Amazon to develop IVY, an intelligent vehicle data software. Yet, despite this creative footwork, it got nowhere close to its heydays as a smartphone leader. Last year, it reported a heavy net loss of $130 million.

In short, things were not going well for BlackBerry — until it became a topic of speculation on Reddit. After it sparked enough interest on WallStreetBets, the stock gained momentum and shot up to around 120%. 

You might have bought BlackBerry stocks, too, if you had heard about it earlier, understood the difference between going long and short in the stock market, and had some extra money available to snap up a few stocks at a low price that you could later sell at a profit.

To prepare yourself for the next golden investment opportunity, here are 2 tips to revamp your finances: 

Try a Different Approach to Paying Down Your High Credit Card Bills 

It’s difficult to think about getting ahead financially when you’re painfully reminded of how far you’re falling behind on your credit card payments, slipping ever deeper into debt month after month despite your valiant effort to keep up with the payments.

An alternative way to pay off your debts is to pay them all completely at the same time with a consolidated loan, which you can get from a financial institution that has an easy application form and does not require a credit check.

A consolidated loan provides several advantages. For instance, you will pay a lower interest rate on your debt, only write one check a month, and only pay an amount that you can afford based on your current income and expenses. 

A second option to pay down high credit card debt is to apply for a short-term loan. Secured and unsecured products like starter loans can give you up to $2,000 to reduce your debts. They enable you to knock out high-interest debt faster while improving your credit as positive payment history is reported to credit bureaus. You can apply for starter loans online and receive a decision in minutes. 

Use a Budget to Improve the Quality of Your Life 

Imagine that every month you run out of grocery money during the last week because you have to pay many big bills such as rent, utilities, and phone. That leaves you with only enough money to live on peanut butter and jelly sandwiches until you get your wages the first week of the next month. You believe your problem arises because you’re simply not earning enough. 

But when you look at your budget, you get a different picture. 

You notice that you’re spending too much at a certain coffee shop just outside your office building every month because you love the taste of your favorite gourmet coffee blend and the coffee shop makes your espresso just the way you like it. Just one cup of this magical brew just before walking into the office shrugs of grogginess, lights up your mood, and sets you up for a highly productive day. 

The downside: Since each cup of coffee costs you $7 — $5 for the espresso with a latte heart design in the cup, and $2 to tip the cheerful barista — you’re spending $140 a month. 

You can fix this problem of running out of money to get a few decent meals without depriving yourself of your beloved coffee by finding a less expensive way of enjoying your favored coffee. Perhaps, by buying your own coffee beans, a coffee grinder, and an espresso machine for a couple of hundred dollars. That investment will pay off in the long run. All you will have to do is coffee blogs to figure out how to prepare coffee to taste as good as the one you enjoy at your favorite cafe.

To sum up: You can take advantage of stock buying opportunities if you have enough surplus money to invest in hot stocks because of unusually favorable market conditions which make it easier to predict the right time to buy as many stocks as you can afford because the value of the stock has a high probability of spiking. You can start saving this start-up capital by using a consolidated loan to pay down your debt and using a budget to manage your money like a pro.