Friday, September 30, 2016
Death is something no one likes to think about. The problem is, if you don’t think about it, you can leave your family in a bad financial situation when you go. It’s crucial that you plan effectively, and leave them financially secure for the future.
So, here’s come advice on what you can do:
Write A Will
The best thing you can do is write a will and bequeath your family money/assets. Most people are very confused about the concept of a will. If you die, and you haven’t written a will telling people where your assets will go, then your family might not get them. Especially with things like stocks and shares. Furthermore, a will helps you allocate funds to separate people. So, you can give a percentage to your children, siblings, etc. Most importantly, it provides you with the best opportunity to make your loved ones financially secure. Plus, it can stop any arguments about who gets what. If it’s in your will, they’re legally bound to get what they’re given. You can find sites like http://money.usnews.com/ where you can find will writing advice. It’s important you know how to write a will, and make all of your intentions clear.
Get Life Insurance
Taking out a life insurance policy is essential if you want your loved ones to have a secure financial future. What this means is that when you die, your family get money from your policy. If you pick the best policy possible, you can ensure they get as much money as possible. A lot of people neglect to take out a life insurance policy, as they don’t want to pay for it. To this I say, think of it as an investment for your family’s future. There are plenty of places like cheaplifeinsurancenoexam.net where you can get more info on quotes, etc. I strongly advise you to shop around for the best deal out there. Don’t settle for the first one you see, compare them and make a pros and cons list of each insurance provider you look at.
Start A Private Pension
If you’ve been working for a certain number of years, you will be eligible for a pension. This is provided by the government, and you get it when you retire. If you were to die, this pension would go to your spouse, and help provide them with income. What you also need to do is start a private pension fund too. You can set this up with various companies, and start saving more money. It works like a regular pension; you just use it as a secondary source of retirement income. I think it’s important to do this, as it can help provide an income for your family when you pass away. Therefore, they can feel more financially secure.
As well as these tips, I suggest you put an emphasis on saving money. The more you save, the more you’ll have in the bank when you die. For money saving advice, check out my article here http://www.yourfinanceformulas.com/. It should help you become more frugal, and save more money for your family’s future.
Thursday, September 29, 2016
Life is full of important and expensive decisions. Today, I have four of life’s biggest decisions, and how you can save money while making them.
Selling Your Home
When you think about it, selling a home can be incredibly costly. It’s ironic considering you’re supposed to gain money from selling your house. But, there are loads of extra costs that add up, and make it very expensive. Mainly, you have to pay for estate agent fees and any additional repairs to your house. Not to mention paying to have it cleaned and making it look presentable.
Thankfully, you can save money when making this important life decision. There are companies that let you sell your house fast, for cash. There are no estate agent fees, and you don’t even have to make your home look nice. Obviously, if you keep your home in good condition, you’ll save on repairs too. The main way to save is to cut out the estate agents from the process, as their fees can be ridiculous.
Buying A Home
As well as selling a home, you have to think about buying one. Now, this will be a very expensive purchase, regardless of what you buy. However, there are people that end up in serious debt as they do things wrong. The biggest mistake is buying a massive house that you don’t need. Think about your family, and buy something smaller, that’s easier to live in.
Another idea is to think about the location of the home. Location can add massive value to property. So, you could get a better deal looking for the same type of home in a different location. Making a small sacrifice to move slightly outside of a desirable location can save you tonnes of money. It’s well worth thinking about.
Choosing to have and raise children is a massive life decision. And, it’s one of the costliest decisions you can make. Kids cost a lot of money; you can’t hide from that truth. But, there are so many ways you can keep the costs down and save money.
For starters, save a load of cash by not paying for private education. State schools are very good nowadays. It makes so much sense to send your children there, as they’ll still get a good education. More to the point, it’s free! You can save thousands a year by doing this.
Marriage is a big decision, and weddings cost loads. Think about all the expensive things like engagement and wedding rings, the dress, etc. It’s easy to spend a lot of money, in a short amount of time.
You can save money if you make a few compromises. Look for a cheaper ring, or use a family heirloom. This doesn’t mean you can’t have a nice engagement/wedding ring; it just means you save loads of cash. Also, consider having a smaller wedding with just close family and friends. It’s more intimate, more special, and way more affordable.
Hopefully, this article has shown you how to save money when making some of life's most important decisions. Start saving, and stop worrying about your finances.
Wednesday, September 28, 2016
It is only natural for every parent to worry about the future prospects of their child. By planning for your child’s future, you can translate those concerns into action. From your child’s schooling and health care needs to higher education and career options, every aspect is affected by the availability of finance. Financial planning is therefore crucial, as it helps you determine short, medium, and long-term goals.
Financial planning helps you manage your income more efficiently, enabling you to meet not just the short-term goals, but also setting the path for those long-term objectives. When you regularly look at these plans, you can monitor and modify spending patterns to enable more savings.
Need for Planning Your Children’s Future
Financial planning for your children is also important as it helps them develop an appreciation and understanding of the value of money. Bringing up your children to become responsible adults should begin at an early age and introducing them to saving and investments with a junior bank account may be the first step in this direction.
As a parent you will need to consider the costs of health care, education, marriage, and lots more. You will also need to consider all of these factors, taking into account future costs, as a result of inflation. While some of these events may seem to be in the distant future, they require early planning. It is important to make sound investments as part of your planning to meet these financial objectives.
Just as important as it is for you to make financial plans for your child’s future, it is equally important to prepare your child for financial responsibilities.
Learning Financial Planning Early
- Parents can teach their children about savings by encouraging them to put their allowances in locked piggy banks. However, you may not always be around to keep watch and the most effective way of teaching your child about financial responsibility and banking would be by opening kid’s savings accounts.
- Children should be encouraged to deposit their money, whether received as birthday gifts, allowances or prizes, in their savings accounts. As your child learns that money deposited in a children savings account will earn interest and grow it increases interest in saving and investment.
- Parents can also teach their children about financial planning by encouraging them to save money to meet some expensive goals. They can keep track of the money they have deposited in their savings accounts to meet these objectives. It is very important for parents to ensure they do not splurge, as this sends the wrong signals. By giving them greater responsibility and control over their savings and the purchases made with those savings, you can give your child practical training and knowledge.
Tuesday, September 27, 2016
There are, unfortunately, all sorts of workplace injuries which occur every day. The truth is, you might find yourself subject to a workplace injury at any time. The best thing to do, of course, is to try and prevent it. But there is only a certain amount you can do towards that end. If you are suffering after an injury, however, you want your recovery to be as quick as possible. Again, there is only so much that you can do to achieve that. However, you should be careful to take it all on board if possible. With a little forward-thinking, you can make your recovery process a great deal easier. That way, you can get back on your feet and back to work in no time at all. Let’s take a look at some of the key parts of recovering from a workplace injury. How can you best look after your financial future?
Enduring this kind of trouble is not an easy thing for even the strongest of people. Without a doubt, the first thing you should do is to take stock of what is going on. This means partly to take a step back and look at your life. But we are also talking about your finances. It is essential that you start to look at your financial life and figure out how things are looking. If there is a possibility that you might be in trouble before long without work, then you should take that into consideration. Of course, taking stock is really a way of making sure that you know what you are going to do in the long run. To that end, make sure that you are honest with yourself about what your position actually is.
Claim What You Can
Chances are, there is at least something that you are entitled to if you have had a workplace injury. There are, these days, countless types of personal injury lawyer. You should work hard to find one that will suit your particular case. Ultimately, claiming compensation is a great way of ensuring that you stay on your feet regardless of what happens. If you feel that the injury is someone else’s fault, then you can probably claim compensation of some kind. There is also a possibility that you can claim some kind of benefits from having to be out of work for a long period of time. It is well worth looking into this as well.
Keep In Touch With Your Employer
As you recover, you should make efforts to keep in touch with your employer. This is beneficial to you for a number of reasons. Chief among them is the fact that a good relationship with your employer will make it that much easier to return at a later date. This, of course, is hugely effective as a means of ensuring your own financial future. Above all, you should make sure that you keep your employer updated on everything that is happening in regards to your condition. Ultimately, this will make the whole process a lot easier on everyone.
Monday, September 26, 2016
When we are struggling for money, we tend to start racking our brains for the best places to get our finances rejuvenated. But there are ways beyond the normal methods of selling your items or spending your weekends working a part time job for minimal pay. Have a look at any of these and see if you can use them to your financial advantage.
Doing Online Surveys
If you are looking to earn some money quickly but you haven’t got the time to go out and go through long applications for a part time job, there are many ways to earn money for doing work from home. Doing surveys online may sound like the idea of tedium for some, but if you enjoy filling out forms and giving answers on a scale of one to ten, then this is the one for you. Online survey companies pay only a small amount for each survey completed, but when so many are completed over the course of a day, they all add up.
Another one where you can work from home, and it is very well paid. Transcription companies need people to type, verbatim, recorded hearings and meetings. With this, you need to make sure you have a very good set of headphones as you will need to hear every syllable of what is being said. You also need a typing speed of approximately 60 words per minute in order for it to be worth your while, otherwise the amount of time to type up one hearing may be quite a while.
It’s never the most upbeat of topics, but there may have been an issue in the past where this has occurred. If it really gave you hardship, you could be entitled to medical negligence compensation. It varies from things such as operation related issues, to being issued the wrong medication. Of course, it may be traumatic to go back through something that caused grief for either you or your family, especially if it is related to death. So if you are thinking about going down this route, then discuss it with your loved ones before doing anything else.
PPI, or Payment Protection Insurance claims have been widely discussed in recent years. A lot of people were not aware that they had this specific type of insurance on their bank or building society account. As a result, they were entitled to a rebate of the cost of the insurance, plus interest. There have been instances of people having PPI on their personal account or business account going as far back as the 1950’s! So, a rebate of the minimal monthly payment for the PPI stretching over a long time can really add up. Look at your bank statements, or contact a company that specialises in PPI claims to see if you have been paying for something you didn’t know you had. As a lot of the banks are putting aside billions of pounds for this problem, it is best to look now while you have the chance.
Thursday, September 22, 2016
Financial planning for the future is really important, and can keep you out of difficulties. You need to understand what is involved in the process of financial planning and execution. These are some of the best things you can use to help you achieve that.
Figure Out Family Finances
Step one in the process is figuring out the family’s financial position. That means you and your partner need to work out what your joint income is, and then go through any expenses you might face. Bear the kids in mind when you make these decisions, and work out where you need to spend. It’s important to look at what you have coming into your account. If you haven't already, you should set up a joint account together as a couple.
Hire Financial Planners
One of the most important things you can do is hire financial advisors to help you. You need trained experts to help you take control of your money and plan for the future. Did you know, over 60% of Americans have less than $1,000 in savings?! You want to make sure you aren't one of this percentage. You need to start building significant savings to give you a safety net and start working towards the future.
Where Can You Make Cuts?
Financial perfection can't be achieved until you have control over your money. And, in order to get to this point you have to figure out where you can make cuts. You need to curb your spending and make cuts where necessary. There are bound to be personal expenses that don't need to be expenses. These are the places you need to make cuts and start saving some extra cash. If you can cut back on what you’re spending, then you’ll find it much easier to reach financial security and safety.
It’s never too early to start thinking about your retirement and how this will affect you. Retirement will mean no more income for you, and this is something you need to spend a lot of time with. Start getting a pension plan in place right now to deal with this. Putting money aside each month into a pension plan is the best way to get a good start on this. And many pension accounts will not allow you to access the money until you come to retirement age anyway, so you know you won't be able to waste the money.
Kids College Fund
Preparing for your children’s futures is something you really need to work hard on. You've got to make sure you provide financial stability for them as they get older. And, one of the best ways of doing this is by setting up a college fund. You can start making payments into this account when they are tiny. Then, when they’re old enough they will have this money to help them get to a great college.
Financial security is something that seems so difficult to attain these days. It’s one thing after another in terms of modern expenses. So, you can use the ideas on this post to help you execute the perfect financial future for you and the family.
Monday, September 19, 2016
We analyze a new BO trading platform, which has quickly gained an excellent reputation on the world market. Finpari is partly centered in the UK and is belongs to two businesses – Noeske Inter LP and Lerona Impex SA. The platform is officially regulated, which adds up to its reliability. Moreover, it operates on the advanced and easy-in-use SpotOption Software.
- Acceptance of traders from the USA
- Weekly contests and rewards
- 24/7 customer service
- Professional guidance if needed
- Trading security
- Data protection
- Over 10,000 requests processed every day
- A big choice of payment possibilities, PayPal included
- No-stop trading
- 1-hour withdrawal processing
Getting professional assistance on Finpari
The key asset of the overviewed platform is its brilliant customer support system. Thus, if you are confused while trading, you can search the answers to your questions on a well-developed FAQ page. In case you have to address the support team, a variety of channels are open to you 24/7 (live chat, telephone line, contact form).
One more positive thing about Finpari is that it supports automatic trading with the help of Binary Option Broker, which may be of great help for beginners.
- SpotFollow option – the possibility to copy the most successful trades;
- ZuluTrade integration – tracing signals from more than 10,000 world traders;
- A great support service with the request reply rate of 45 seconds;
- A variety of materials for training;
- Different accounts with lucrative bonuses.
Bronze account may be opened if you deposit minimum $1000. It brings you a 20% bonus, 1-hour withdrawal processing, a trial version, and a free training course. Silver account presupposes depositing from $1,000 to $3,000, a 50% bonus, 3 trades free of risk, and a master class. Gold account requires depositing from $3,000 to $50,000 and gives you a 100% bonus. Moreover, you are entitled to open a Fixed Income Account, which guarantees a certain percentage on return and full refunding.
With SpotOption tool, you have a chance to monitor the trades of the top successful world traders, which maximizes your chances for winning. Trading from any place is also possible due to the optimization of the platform to mobile devices. Automatic trading is also a great advantage. This option is supported by Binary Option Robot and may be of great help for both professionals and newcomers.
Sunday, September 18, 2016
When it comes to moving, everyone focuses on the stress aspect. It’s one of those milestones in life. The upheaval; not knowing where anything is; feeling displaced and struggling to cope with it. While these are all valid points, one thing that can often be overlooked is the cost.
Sure, it's a cost that you quickly learn when you're in the process - and at a time when you're not flush with cash. You've just purchased a new home, denting your savings, and then there are further demands for your hard-earned cash.
While there is never going to be a way to be able to move cheaply, that doesn't mean you can't find a way to move affordably. There are plenty of ideas people have picked up along the way, so try these out and see if you can save your pennies for new decor instead.
1. Avoid Storage Wherever Possible
It's a given that storage is expensive. While few people do it by choice, it nevertheless can end up costing a ridiculous amount of money. From the beginning of organising your move, think about making the dates coincide as well as possible.
Also think about other places you can store items. It might be cheaper to rent a delivery van for a few days than to use storage for those dates. If you're using movers, pick a local service. Reputation and value are important when dealing with what's going to be a stressful day.
2. Don't Get Sentimental With Clutter
When moving home, we are all faced with the issue of getting stuff out of storage ready to move it. And when we do this, we can have a sudden rush of nostalgia for things we bought years ago and barely used. Ask yourself some tough questions. Are you REALLY going to use it at the new house? If not, sell it for more money in your pocket. Or freecycle it, to keep the move as light as possible.
3. Don't Buy Moving Boxes
It's easier to move things when they are packaged - that's no surprise to anyone. And so a lot of people pay for boxes to help with the move. This is a mistake. As soon as you know you are moving, save every box that you have delivered to your home. Break them down and stash them under your bed. Beg them from supermarkets when you go shopping if you don't have enough. You also don't need bubble wrap - use old newspapers instead.
4. Pack Snacks
The last box you put in the van, or car, should contain some snacks for everyone involved in the move. It should also contain some bottled water. Because the truth is, it's sapping work moving house and it's going to take days. You're unlikely to have the kitchen in full working order or to really want to cook. So to avoid spending a lot on takeout, you should have ready access to quick and easy food.
Doesn't mean you can't order in once the work is complete - I mean, you're due a celebration then!
With a bit of forward planning, you can make a house move smoother, less stressful and cheaper. All three of these aspects will make it a lot more pleasurable to wake up the next day in your new house.
Saturday, September 17, 2016
When we talk about your finances, we talk about all the money you have in the world. Your ‘net worth’, as they say. If you’re not in the minus and saddled with debt, you’re still not in the clear. Life has a way of throwing some huge curve balls at you. If you’re not protecting your finances from those curve balls, it can put you in the minus pretty quickly. So here are a few ways to protect them.
Be future oriented
It’s easy to get stuck in the here-and-now. To juggle costs without thinking too much about the future. You might not even think you can afford to look to the future. But that’s short-sighted. If you’re not preparing for education costs, housing costs and retirement, you’re setting up to fail. You need to create a budget that specifically leaves room for the big long term goals. Otherwise, you’ll miss them entirely.
Set up a rainy day fund
We mentioned a budget because they’re the best way to find more ways to protect your income. By knowing and cutting what costs you can, you leave yourself room to use your money in ways that are going to do you some real good. For instance, putting together a rainy day fund that you can dip into whenever a big cost is coming your way. Don’t let said cost take from your everyday spending. Have a fund set up as a buffer, instead.
Don’t spend when you don’t have to
Of course, you won’t need to dip into any of your savings if you don’t have to spend the money in the first place. We’re not talking about cutting down on your costs even further. Instead, we’re talking about protections that will stop you from spending money entirely. Protections like the right insurance on your home, health and car. Having contact with legal teams like Dolman Law Group when those big costs aren’t your responsibility. Don’t spend when it’s not your fault.
Take care of your credit
Some people think that credit is something that should never be touched. They’re right that credit is important and has a lot of far-reaching, surprising effects. But it’s also a tool. If you’re in need of money, quick, it can provide just when you need it. That’s why you should avoid debt, yes, but also keep a line of credit open. Whether it’s an overdraft, credit card or otherwise. Use it sparingly to keep that credit score healthy, but keep it open in case you find yourself needing it.
Diversify your income
One of the best ways to protect your income is to have more of it. No-one likes to think about preparing to lose their job. However, diversifying your income could be the step that saves you in that event. There are a lot of different ways to do it. Picking up side hustles is a favorite of people who like to be active in their earning. Meanwhile, investing is another crucial step to becoming financially savvy.
It’s all about having as many strategies to protect your essential spending money as possible. Set up roadblocks between life and the money you need. That’s what will help you stay safe.
Monday, September 12, 2016
All businesses are designed to make money, or else they would not exist. This does not mean, of course, that money is the only thing that a business owner needs to think about. Nothing could be further from the truth. A business needs to think about every aspect in which it operates. Otherwise, it might well find that it does not last for very long in the real world. If you are a business owner, you are probably keen to make as much profit from your business as possible. This is entirely natural. However, it would be a mistake to suppose that profit is the only aspect of the financial side of things to worry about. The fact is, there is much more to it than that. In this post, we will go through some of the major elements of the financial side of your business. You need to bear all of these in mind if you want your business to enjoy any long-term success. Let’s dive in now and take a look.
All businesses require a huge degree of planning, in all areas, and in the financial side of things in particular. The fact is, most business owners fail to properly plan for their business’ future. This only leads to improper actions and further disappointment. If you want to make the most of having a business, you need to make sure that you are planning ahead every step of the way. There is no such thing as planning too much, so get started today. The more you have planned for, the more money you save overall, and the fewer surprises you come into. It might not be the most important part of the process, but it is essential. Try to plan ahead as much as you can and in as much detail as you can. That way, you are more likely to avoid any nasty surprises or bad decisions. This is much easier said than done, of course, but it is worthwhile.
One of the more difficult or challenging aspects of the entire process is sourcing decent funding at the very beginning. This is obviously an essential part of running any business. It just so happens that it is also one of the most difficult. When you are looking for funding for your business, you should think about all of your options carefully. Chances are, you won’t want to settle for the first opportunity that comes along. However, you might find, after some research, that you do. Either way, it is a good idea to take your time and compare them carefully. The most common source of funding for new businesses is to get a loan through a bank. This is possibly the easiest one to secure. However, bear in mind that you will need to pay it back, probably within a certain time frame. And, of course, there will be a - probably significant - amount of interest to pay on top of it too. However, you might find that this is your best option.
If you have any personal wealth, using that might be your best bet. Alternatively, borrowing money from friends or family is always an option. Just be careful not to step on any toes or ruin any relationships. No business is worth that! As we have seen, finding proper reliable funding can be remarkably tricky. But once you get it, most of the hard work is done in terms of the financial side of doing business.
Businesses have certain legal duties to fulfill. It is important that you stay on top of these and ensure that they are done. Otherwise, you might find that you get into some serious trouble. And then it can often be hard to continue in the same way as before. It is best to avoid the hassle altogether, and follow the law religiously. When it comes to the complex issue of tax, many business owners are in over their head. If that applies to you as well, don’t worry too much. The good news is that there is plenty of help to be had. If you are really unsure about the amount of tax you have to pay and when, then ask the help of a professional. Getting advice from an accountant or law firm could be the easiest way to make sure that you stay on top of it all. You might find it helpful to take a look at this advice by the Alexander Law Firm, too. Getting on top of the legal side of things is an important part of doing business. Make sure you don’t make any serious mistakes.
Keeping Costs Down
Now let’s take a more detailed look at the ways in which money tends to work within a business. It goes without saying that one of the major objectives for most businesses is to keep costs down. This is easily achievable, yet at the same time surprisingly complex as an issue. To begin with, you should take a look at every single expenditure that you have going out. One by one, try to decide whether it is essential. If it is not, get rid of it entirely. For everything that remains, see if you can find a way to make it cheaper. Often, the solutions here come from simply thinking on your feet and being a little creative. Keeping costs down is a vital part of ensuring the ongoing health of your business, so you should take this as seriously as possible.
The other side of the same issue, of course, is increasing your profits as much as possible. To achieve this, you would do well to carry out some market research. That way, you can discover whether or not you are charging as much as you can charge. You might be surprised to discover how much you can boost the price of the product without offending the consumer. Of course, you should also make sure that you do not compromise on quality.
Sunday, September 11, 2016
Here’s a scenario for you. You’re driving down the road at a normal speed limit, singing along to your in-car tunes as you go. Then, one of the cars on the other side of the road appears to swerve a little, struggling to stay in the lane. You try and get out the way, but it’s no good - you both catch each other, causing damage in the process. You’re relatively OK, but your car certainly isn’t. This might be nothing more than a minor incident, but there’s a hefty financial price to pay.
This is where our article comes in. You need to be informed about the financial cost of a situation like this, and what you can do to help you along the way. Let’s get started.
What Are The Expenses That Need To Be Paid?
Let’s start with the accident in question. You might not be seriously hurt, but you still need to get checked out. Also, the shock of the situation might have caused post-traumatic stress. It all needs to be accounted for, and someone has to pay the bill for any medical costs that are drawn up. That’s your second worry - your first is simply getting back to good health!
Of course, there’s the car itself. Even a minor accident can cause significant damage in the financial department. Also, there’s the deductible to think about with your coverage policy, too.
Let’s say your car is going to be out of action for a while. You’re going to have to sink some money into getting a rental car during that time. This might come as part of your insurance policy, but not all policies include it. And, while we’re on the topic of insurance, keep in mind that your premium might spike from now on.
How Can I Get Support?
OK, so you’ve got the ability to go down one of two routes, here. The first is going to your insurance company, who can try to help you with the costs. You might find some neat perks included in the package too, depending on the company you took the policy with. You better hope the details you entered for your policy are still valid, or you might find yourself in a bad situation.
Alternatively, you could go with a personal injury attorney at The Harrington Law Group, for example. They’ll work with you to stake a claim against the person who caused the crash. They’ll also help with additional costs that you have suffered, and even take your case to trial if necessary.
Both options are fairly similar in nature, with the key difference being that attorneys have the expert legal knowledge to back you up. There are pros and cons of both solutions, but they’ll both work to try and help you through this situation.
Getting into a car crash is a traumatic experience for many different reasons. Luckily, however, there’s plenty of support out there to help you through it. There are major expenses to be concerned with, but you shouldn’t find yourself out of pocket if the crash wasn’t your fault.
Saturday, September 10, 2016
Living frugally can be very challenging at times, particularly when your family starts growing. It’s a good idea to save money where you can, as this gives you money to use for unforeseen expenses or even just the occasional treat for the family. Living frugally and sensibly also instills great values in the kids for their futures.
Although travelling abroad for beach and city breaks is amazing, it isn’t always doable. There are still plenty of ways to holiday at a low cost though and keep the kids entertained too. Consider good old fashioned camping trips, renting a big cabin in the woods for the whole family, or even frugal but fun RV vacations. Keeping your yearly vacation relatively local means you can afford to splash out on a more special every other year or so.
Although moving house isn’t always at the forefront of our minds, it’s something worth just keeping in mind. The value of your home can be massively affected by the things you do, or don’t do, to it during the time you live there. If you have some extra money available for whatever reason, it might be wise to re-invest it in your assets. Making simple changes to your home over the years can greatly increase your home value for when you do come to sell it on.
Feeding a whole group of hungry mouths doesn’t have to come at a ridiculous cost. Ensure your entire family is eating a nutritional and balanced diet by being smart about what you buy and how you cook. Focus on plant-based meals by finding some simple vegan and vegetarian recipes. Poultry and red meat in particular can be very costly. By prioritising filling and cheap foods, such as wholegrain rice and chickpeas, you will find you spend less money on meat. Cooking large quantities in bulk and then freezing portions for a later date is a great way of getting value for your money. This avoids any unnecessary food waste.
By being smart about your savings, you can actually earn money over time from doing nothing! Choosing a bank account that allows you to earn interest is the ideal place to put any excess money. This way, you know it’s in a safe place and you are less likely to access and spend it if it’s tucked away somewhere. Websites like this can give useful advice on where to get started when saving.
Recycle, recycle, and recycle. Invest in staple items for your children and then, where you can, hold onto these pieces as your eldest grows out of them. Then, as the littler one grows up, he or she can wear these staple hand-me-downs. The children are unlikely to mind; they’re too busy running around having fun at this stage! When all of your kids outgrow their clothes, you could then try selling them on at car boot sales or eBay.
These are easy ways to save on spending that you can incorporate into your weekly routine.
Monday, September 5, 2016
Life is full of milestones. Some are big, some are small and they can be different for each individual. But there are some milestones that most of us go through at least once in our lives that can have a big impact on our finances. As with any situation involving money, it's important to be prepared. Those who start being financially aware at a younger age are more likely to be able to cope with the strain life can have on their money. Take a look at the most common expensive life milestones below and find out how you can be more prepared for them.
Chances are if you went to a private school during your younger years, or had a personal tutor, this cost fell with your parents. However, moving onto higher education is a whole different kettle of fish - one that you will most likely be responsible for. Unfortunately, it doesn't look particularly pretty. The average four year degree course in a public college costs the undergraduate around $19,000 per year. British students are hit the worst by post-college debt, with some of them leaving university with nearly £50,000 worth of debt. However, there are ways to help cushion the financial blow that education can have on you. Look into what grants, scholarships or bursaries you may be able to receive and consider opening a student bank account. Many can offer freebies such as discounted travel and of course they come with a big overdraft in case you need it. Just be careful not to rely on it too much as you do need to pay it back!
Buying your own house is a huge achievement in this day and age. Inflation and recession has caused house prices to shoot up hugely over the past 40 years. In the 1970s the average price of a new home was $48,000. Today, you are looking at paying around $270,000. It can sound a bit scary, but the truth is that the only person profiting from your rental property is your landlord. However, with the sheer amount of mortgage lenders on the market at the moment, it can be difficult to know who to trust with your money. If you are looking for prime lending, for example, don't just go with the first bank you see. Shopping around and considering private lenders can ultimately help save you money in the long term.
Many of us plan to have children once we are settled. But what a lot of people don't plan is how they are going to afford everything once their baby arrives! It's not just the birth that's pricey. Kids can prove expensive what with post-natal care, food, clothes, and nannies if you need that extra help. You can, though, save money by taking just a few simple steps. During the birth, try and say no to any add ons you are offered. Check that your private room doesn't charge and avoid turning on the television - some hospitals charge for TV usage. Nurse your baby naturally if you can and avoid buying loads of baby clothes before your little one arrives. Chances are, they won't fit in them either way!
Sunday, September 4, 2016
Investment by its nature is a gamble. You have the potential to lose every last cent you put in - and it can happen overnight. Many people understand this, yet so few make the same mistakes, and they occur time and time again. Today, we're going to look at the five most common risks to your investment portfolio. Read on to discover more - and make sure you take steps to protect your finances.
Lack of diversity
As everyone should know, wise investors always have a diverse portfolio. Without diversity, you are not spreading your risk, which can lead to utter disaster. All it takes is an industry to go under, and your shares will disappear. An organization going bust will have the same effect. And a nation’s economy could crash, leaving your currency worthless. Spread your wealth, and the damage will have limits.
Trying to time the market
Always play the long game when it comes to investing. Trying to play or time the market is almost guaranteed to end in failure - there are just too many variables at play. Sure, you might get the odd win that makes you think you are an investing genius. But look at every successful investor out there and they never take such gambles. It’s why they are successful - and you should follow suit. Plan for the long-term and you will reduce your risk by a significant amount.
Investing in areas you don‘t understand
Professional investors know where their strengths and knowledge lies. Always stick with it and never take on what you don’t understand. If you are looking at foreign currencies, make sure you know all the tips for FOREX trading going. Study the markets - and know how they work. Be careful when trading stocks, too.
Sure, you might think you know about technology - you have a branded phone and play with apps, after all. But where do all the parts in your smartphone come from? Where is the metal for the casing mined? Who develops the microchips that keep it running? And what would happen if disaster struck that tiny - but vital - company that makes the technology for the big brand?
Not accepting a hit
Good investing is all about knowing when to walk away. You will take hits, but the trick is to get out while you still can. Hanging around with your fingers crossed, hoping things will turn around? It’s just not going to work - and you could lose everything. Great investors always cut their losses early and reassess their options. Of course, they lose some money - and may even miss out on a big haul in the future. But the safety-first option always pays out better - and safer - in the long run.
While you should always walk away when you suspect trouble, you need to understand how the market works. Inexperienced investors often make knee-jerk reactions, in response to normal market fluctuations. Stocks and commodities go up and down all the time - always take your time before making a poor decision.
Saturday, September 3, 2016
When you’re in significant financial trouble, it can feel like the walls are closing in on you. There always seems to be a new letter of some debt or bill coming through the door. It’s easy to succumb to the pressure, but you need to stay strong and always keep an eye out for alternatives. Sometimes, even the worst situation can have a solution. It won’t always be pretty, but you need to take action.
The first thing we can advise is a step that way too many people miss out on. Perhaps they feel embarrassed about talking to their creditors. Or they could feel nervous about getting themselves in even more trouble. The idea that creditors will jump to bite a chunk out of those in debt to them isn’t entirely true. In most cases, they’re a business that relies on reliable relationships with their customers. If they know that a situation is so bad that you risk losing everything, they may be able to give you more wiggle room to come to terms with what you owe. Being savvy about negotiating with them is important, too. Stay calm, stick to your story and try as much as possible to stay in dealings with your creditors, not their collectors.
Look at your lines of credit
If you’re in debt, you need to be operating on a plan of how to pay. You need to budget with a good 10-20% of your income going towards paying off debt. Similarly, you need to pay towards the debt that will cost you most. For example, those with particularly high-interest rates. At the same time, you can look at how you might move your credit around to make it easier to deal with. If you have a home, you can avoid going into collections and increasing interests by using a loan insured by your home. You can also look into consolidating your higher interest loans to a better deal.
A clean slate
Sometimes, all the shuffling around in the world isn’t enough to help you deal with debt. If a situation is looking truly insurmountable, then you may need to think about taking a further step. A bankruptcy attorney will let you know that it isn’t the end of the world. At the same time, it’s a choice with far-reaching consequences. Your assets will be looked into and seized as a means of paying as much of your debts as you can. Your credit will also take years to recover. However, it can be better than struggling fruitlessly for years to pay off debts that you’re unable to afford. If you feel like you’re in that situation, talk with someone experienced to get an idea of how to move ahead.
Even the most drastic of these options isn’t without real merit. The truth is that sometimes you just have to bite the bullet. Face your anxieties head-on and take steps to fix your situation. Otherwise, you will be dealing with the stresses of a poor financial situation for way too long.
Friday, September 2, 2016
Caring for your finances should always be at the top of you ‘to-do-list’. And, it’s even more important when we’re hit with a recession. In light of the recent Brexit outcome, some experts are predicting another financial crisis on the horizon.
In this article, I’ll tell you why it’s important to care for your finances during a recession, and some steps to help you do just that.
The Importance Of Caring For Your Finances
There are many reasons you should look after your finances during a recession. But, the main reason is that it leads to greater financial security. You can feel a lot safer if you know you have security and stability. It’s not a nice feeling going through a rough patch and worrying about your money every day.
Secondly, it helps keep your family happy and living a good life. If you aren’t taking care of finances, then family life is the first thing to suffer. You might have to move home, and that puts a lot of stress on a family.
Finally, it makes the whole recession experience a lot easier to bear. You may think that some people aren’t affected by a recession at all. You look at them and wonder how they can still spend so much money with confidence. Well, the reason for this is because they take care of their finances. They have everything in order, and can cope with the situation they’re in.
Now, what can you do to ensure your finances are in good shape during a recession? Below are some helpful tips that help prevent any money problems.
Save As Much As Possible
My first tip is something you should do from an early age, save! Saving money is the best way to get yourself into good financial shape during a recession. The more you save, the more you’ll have in the bank to help you out.
Do this before a recession and during it for the best results.
Use Loans Responsibly
During times of financial stress, money can be hard to come by. There may be days where you need a lot of cash to finances important purchases. And, failing to pay for essential things can land you in debt. Luckily, there are some ways you can get extra money in short bursts. One of which is asking friends and family for help. But, we’ll go into that in more detail later on in this piece. What I’m focusing on now is using loans responsibly. If you use loans correctly, they can help you out of tricky financial situations. You can get things like Swift Money loans to assist you with important purchases. The key is ensuring you don’t rely on loans as a permanent solution. They’re something you have to use in moderation. If you become dependent on them, then you’ll just end up in even more financial bother.
During a recession, you see more and more people turn to loans as a way of helping them out. It’s a popular idea but does come with risks. Don’t bite off more than you can chew with a loan. Only take out as much as you can afford.
Don’t Be Afraid To Ask For Help
I mentioned asking family and friends for help in the above paragraph. And, now I’m going to explain why you need to do this, and how it can assist you. The problem is, many people are too afraid to ask for help from people they know. They don’t want to get judged, and feel like it makes them inferior to the people helping them. Well, the fact is, there’s nothing to be ashamed of if you get yourself in financial bother. Especially during a recession, when things can take a turn for the worse with ease. Unemployment rates rise as more people get made redundant. So, there’s a high chance you could end up without a job and struggle for money. There’s nothing embarrassing about that, and people are willing to help.
You should talk to your close family and friends for advice at the very least. They may have contacts that can help you, or be able to help you themselves. Your close family, in particular, will be more than willing to assist you. The last thing they want is to see someone they care about struggling. They might loan you some money, which you can pay back when the time is right, and your finances are in order.
Use all the information in this article to guide you through tough financial times. You’ll find life a lot easier to bear.
Thursday, September 1, 2016
Being unable to work due to an injury can be a scary prospect. Not only will you have to recover physically, but you’ll also have to find ways to stay afloat financially while you’re unable to go to work. You may be affected by a car accident, a nasty fall or even a workplace accident. Whichever way, there are ways to put yourself in a good situation financially even while out of work.
Contact A Lawyer
Depending on how you got your injury and how your workplace responds to it, you could be entitled to a lot of money. The first thing you should do is to consult with a legal expert.
There are lawyers with years of experience in dealing with your exact situation. Be sure to go to a law firm with experts in personal injury claims, such as Neufeld, Kleinberg & Pinkiert. Personal injury lawyers work to ensure you get the compensation you deserve.
In car collisions, you may need to demand payment from the other party’s insurer. In a hit and run incident, the person responsible can be brought to court and sued for damages and financial loss incurred. If your injury was caused in your workplace, they can ensure they recuperate your financial losses for being out of work.
In addition to compensation, personal injury lawyers will have dealt with a lot of people in your situation. They can provide you with sound advice for dealing with it financially.
Whether your injury was caused at work or outside of it, companies often have measures in place to protect injured employees. Statutory sick pay can often cover you with a reduced wage for the time you’re out of work. Most businesses have liability or indemnity insurance, which can cover compensation for loss of pay.
You may also be able to claim Injury Benefits from the government. This can vary depending on where you live, but most countries provide supplemental income to those who are put out of work by an injury. Depending on the severity of your injury, you may also be able to claim Disability Benefits. If you have health insurance, this can pay for your medical bills.
This is all money you’re entitled to, and it will help you stay afloat financially while you’re unable to work. Don’t hesitate to see what you can claim.
Make Money From Home
Being out of work can be the perfect time to try out some home money making methods. There are many ways you can make money from home. A lot of these are simple and only require a computer, so you’ll be able to do them even while injured.
You could sell old junk you have lying around your house on sites like eBay. You may even be able to create things and sell them in an online shop. You could even take on freelance jobs on websites like Upwork.
You may not be able to earn a full-time wage doing this, but it can give you a little extra money. Combined with other methods, this can help you not lose out on too much money while you’re out of work.