Stories | Money


Ultimate Money Saving Tips and Tricks

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We’d all like to save money. Nowadays, the price of living is high and many of us find ourselves left with minimal disposable income once we’ve paid for all of our bills for the month. But the good news is that there are probably plenty of ways for you to reduce your outgoings and boost the amount of disposable income you have. Of course, this is going to require a certain level of change in your day to day lifestyle for you to achieve, but generally speaking, it’s more than worth the effort. Here are a few tips and tricks that you might want to consider and try out yourself!

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Struggling to Choose a Career? Three Tips to Help Your Find Your Calling

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Feeling unsure about what you want to do in life doesn’t mean that you aren’t going anywhere. It means you haven’t fully understood yourself yet. These considerations will help you see your state of uncertainty as a chance to establish what you care about and find the right direction.

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The Ultimate Guide to a Great Family Finance Discussion

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They say you should never talk about money, don’t they?  But we do have to sometimes – it makes the world go round, after all… Now, we’re not suggesting you discuss it with everyone – don’t worry!  Just that’s it’s important between close family and loved ones.

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8 Ways To Ensure Your Company Is Always In Good Financial Standing

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When it comes to running your own business, one of the hardest things to do is ensure your company is always in good financial standing. Whilst you may not have this issue when you have been established for a number of years, businesses in their first few years of operation may find it difficult. Although it may seem difficult to do at first, there are a number of different things you can to ensure you’re on top of your finances. With that in mind, here are 8 ways to ensure your company is always in good financial standing: 

  • Set Yourself Goals And Targets

One of the best ways to ensure you’re always in good financial standing with your company is to ensure you are setting yourself financial goals and targets. Although setting goals doesn’t necessarily mean you’re going to achieve them, it will give you the motivation you need to achieve them. 

Targets can also act as a benchmark of where you want to be as a business at particular points of your timeline. They’re not only motivation but instead guidelines for how well you want to be performing. Not only that, but they’re the best way to ensure you don’t go into liquidation

For more information when it comes to setting yourself financial goals as a business, you can visit this site here. 

  • Make Sure You’re Creating A Budget

As well as setting yourself goals and targets, you need to be sure you’re putting together a budget for your business. Not only will this allow you to see exactly what you should be spending and when, but it will give you the opportunity to see where you are overspending. 

Often, when it comes to financial issues as a business, it comes down to not budgeting correctly. Whether this is due to incorrect information or a rise in costs, you can never be too careful. The best thing to do in this situation is to ensure you’re always adding a little bit of contingency money to each budget. That way, you’re more likely to underspend than you are overspend. For guidance when it comes to setting a budget for your business, you can visit this site here. 

  • Stay On Top Of Your Bills And Invoices

Although this may seem obvious, you need to ensure you’re staying on top of your bills and invoices. Once you start to get behind on paying for your suppliers and utilities, it’s hard to catch up again. If you think you’re struggling when it comes to paying for all of your bills, you may need to take the time to sit down and work out where you can easily cut costs. It won’t be easy, but it may be necessary. 

  • Ensure You Have A Separate Business Account

If you’re running a small business and you’re the sole owner, it can be tempting to run the business out of your personal current account. Whilst this may work when you first get started, as soon as your business starts to grow you need to open up a separate business account. Not only will this give you the opportunity to start building up your business’ finances, but it will mean you’re being much more conscious of how much of your business’ money you’re spending in your day-to-day life. It helps, why not pay yourself a wage each and every month? 

  • Hire An Accountant If You Need One

If you think you’re going to struggle when it comes to managing your business’ finances, you may want to consider hiring an accountant to help you out. Not only will they be able to guide you when it comes to your month-by-month finances, but they’ll also be able to help you when it comes to your end of year tax return. Whilst most people prefer to do this themselves, you will get the best possible results if you hire an accountant to assist you. For guidance when it comes to hiring an accountant for your small business, you can visit this site here. 

  • Save Money For Your End Of Year Taxes

One of the things most small business owners forget, especially in their first year of operation, is to save money for their end of year taxes. 

Although a lot of people prefer to pay them off in one big chunk at the end of the year, it is much easier to save up as you go along. Whenever you earn any money as a business, you need to subtract 20% for tax. If it helps, you may also need to consider setting up a separate account in order to save the money. 

  • Think About How You Can Earn A Passive Income

Another great way to ensure your company is always in good financial standing is to make sure you always have a form of passive income. This means thinking of a way to ensure you’re always going to be earning money, even if you’re going through a quiet period. 

Whether it’s creating an eBook or creating a course, you want it to require minimal effort from you once it has officially launched. 

  • Keep All Of Your Receipts And Financial Information Safe

Although keeping all of your receipts and financial information won’t help when it comes to earning money, it will help ensure you know exactly what is going in and out of your account at all times. Whilst you need to do this for your taxes, it’s also a great way to stay on top of everything from a personal perspective. 

  • Reevaluate Your Financial Situation At The End Of Each Month

Finally, you need to be sure you’re reevaluating your financial situation at the end of each month as this will allow you to keep a close eye on your finances. If you start to notice any huge losses, you can address them as soon as possible you possibly can. 

Are you looking for ways to ensure your business is always in good financial standing? What changes can you make? Let me know your thoughts in the comments section below.

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Essential Things to Consider When Buying a Block of Land

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Buying land can be a great investment. But if you plan to build on it – it’s best to be cautious.

There are lots of considerations you need to think about  – so it’s wise to be aware of them before your search hits the ground. Continue Reading

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4 Things That It Might Be Worth Spending a Good Chunk of Money on Upfront

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With more consumer goods, potentially useful services, and assorted avenues for spending your money available today than ever before in human history, it’s not always straightforward figuring out which things are actually worth investing a good chunk of change in upfront, and which potential purchases should be ignored, delayed, or turned down in favour of cheaper alternatives. Continue Reading

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What Does It Take To Be “Self-Sufficient” These Days?

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It seems that we live in a world where we’ve got to cover our own backs. Every single thing about life appears to be increasingly more difficult with every passing year. Even the act of making money is only feasible if you’ve got a main job, a side hustle, and some form of freelance career to go alongside them. As such, it seems we’re being actively encouraged to look after our own needs, rather than anybody else’s. And without making it sound like we’re completely selfish, being self-sufficient is a term that continually crops up. Whether this is in terms of our lifestyle or our career choices, the idea of looking after our own needs encapsulate so many different components. What are these, and how can we best embrace the self-sufficient lifestyle without being self-sufficiently selfish?   Continue Reading

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Making Money From Property: Whether You Rent or Own

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Whilst making money from property, as a tenant is a much more contentious issue than if you own the property yourself, as many tenancy agreements include a strict clause pertaining to subletting and making an income from the property… today, in the world of AirBnB many tenants are making extra income from hosting people via AirBnB for instance.

This is a particularly good option if you live in a prestigious property in a good location, such as those by Meriton.  Yet, today, there are all sorts of ways to make money from property whether you are an owner or a tenant.

  1. GET A LODGER

If you have a spare room, then getting a lodger can be a great way to make a consistent and reliable monthly income from your property.  Of course, if you rent, you must be a little careful in terms of violating the terms of your tenancy agreement – and similarly, if you own the house, you must be careful in terms of what is considered a “commercial arrangement” versus merely renting a room out, as a “normal” person.

Renting a spare room often provides a more reliable monthly income than concepts such as AirBnB that are more sporadic in nature, yet of course, monthly rent will be capped in terms of the amount you can make – whereas AirBnB has potential to make a lot more money.

  1. HOST AN INTERNATIONAL STUDENT

Something that pays quite a lot of money is to host an international student; this often requires you to provide two meals a day in addition to a little tutoring when it comes to learning English, along with providing a room, but the amount you can make from this is substantial.

  1. AirBNB

AirBnB offers a more profitable alternative, at least in terms of the amount you can charge each night, than the idea of getting a full-time lodger.  It’s also much more flexible in the sense that you can decide when people stay or when you want your house to yourself – by simply blocking out time on your availability calendar.

There are pros and cons to both AirBnB and having a long term lodger, so it depends on what you’re looking for, but if you live by a major airport or venue, AirBnB might make a lot more sense as you can sell your room at a premium due to the economics of supply and demand.

  1. RENT OUT YOUR GARAGE

Many people don’t want someone else living in their space, but are happy to rent out their garage as storage space in order to make some easy money.

  1. RENT OUT YOUR DRIVEWAY

If you live in a busy town and are centrally located, or near a transport hub, such as a train station you might want to consider renting out your driveway as a parking space.  If you work office hours yourself this could be particularly useful, as during the day, when the driveway would otherwise be empty you can make money whilst adding to the security of your home due to it looking like someone is in.

 

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Are You At Risk Of Making These Mistakes On Your Business Tax Return?

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Are you setting enough aside?

Are you setting enough aside?

We’re here to talk about the much-dreaded tax return. Is there a more hated word in the small business vocabulary. Heck; is there a more hated word in all language? If there is, we haven’t heard it yet. We all feel the pressure of upcoming tax forms. This is especially the case when you’re filing for a company rather than just yourself. Suddenly, you’ll have so much more to think about. Not to mention that you’ll be accounting for a whole load more money. That alone could end up making you hot under the collar.

That fear only gets worse when you consider everything businesses get wrong when it comes to their tax returns.  Even big names make significant mistakes here. That doesn’t bode well for you, with inexperience and first-time nerves working against you. Luckily, we’re going to look at a few common mistakes you might make, and how to avoid them.

You haven’t set enough aside

Around 32% of companies fall foul to not having aside enough to cover their tax returns. This causes them to dip into profits elsewhere. That can even lead to them clearing themselves out. The fact is that you’re sure to owe more than you imagine, especially if you only have personal returns to go off thus far. Your best bet to weathering the tax return storm, then, is to set money aside for this through the year. A good way of doing this to start with may be to use one of many tax calculators out there to estimate how much you might owe. Keeping your accounts together using software like Xeppo, as discussed here by Umlaut, could also help you here. By giving you a birds-eye-view of every aspect of your business, such software can ensure that you consider the whole picture. That includes your tax allowance.

You’re mixing business with pleasure

Another fatal mistake would be to mix both your personal and business finances. This is yet another reason it’d pay to develop a separate system for business finances. If your business is a corporation or independent entity, you can’t risk slipping so much as one piece of personal finance into that return. Make sure, then, that your personal receipts are nowhere near your business office. One slip here could see your whole tax plan come crashing down.

You’re too keen to claim

Tax returns are the bitterest pill. Claiming things back is the best way to wash it down. However, you could soon trip over this, too, if you try to claim too much. Filing for things which don’t qualify could fast see you facing legal issues and hefty fines. As such, you need to be 100% clear on what you can and can’t claim from day one. Things like start-up cost up to $5,000, and even the cost of training counts here. But, things like personal transport and entertainment do not. Learn the rules and play by them to ensure your tax return journey runs smoothly every time.

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All Summer Long: Keeping Your House Cool

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The better weather is coming your way, and even if you’ve been experiencing some pretty drab winter and then spring weather, the BBQs and flip flops won’t be far away from making an appearance. But how do you plan on keeping cool over the summer? In many instances, the natural go-to is the air conditioning. But that, along with fans dotted around the house, can all be pretty energy consuming, costing you a lot of money in the long term. So the good news is that there are alternatives. These are some of the things that you could try instead, or at least in between the air-con and the use of fans. Keep cool and keep your energy bills down.

Use Your Windows in the Right Way

It can be a natural choice to open your windows as wide as they will go to let in a bit of a breeze. But this isn’t always be a good decision, depending on where in the house you are opening the windows. To really help your home to keep cool, it is all about keeping the hot air from even coming in. So if you’ve got south facing windows, for example, keeping them closed and covered with blinds or curtains during the day can really help the home to stay cooler. When the sun has moved or gone down, then you can open them to give them a good airing.

If you really feel the need for a breeze, as let’s face it, air moving is going to be much cooler than air in the home that is just staying still, then make sure you do so in the way that will encourage a breeze. Open windows on opposite sides of the house, and it can it can help a breeze to travel through.

Insulation

Insulation is normally associated with keeping warm. Because let’s face it, it can give you an extra ‘layer’ in your home and will help with keeping the heat in. But what it also can help with is keeping the heat out of your home as well. So don’t underestimate the power of some insulated panels for wall partitions in your home, for instance. It can help you then in summer when you want to keep heat from coming in, and in winter when you want to keep the heat in the home and stop it from going out.

Switch It Off

It can be quite surprising just how much heat many appliances in our homes generate. If you’ve ever used a computer for a long time, for instance, you will know what I’m talking about. So switch things off fully when not using them; don’t just put them on standby. It is a good idea to make sure that fridges and freezers have plenty of room around them to vent (rather than being squashed against a wall), as these are some of the appliances that can generate a lot of heat (but of course, don’t switch these ones off). Just give them plenty of room to ventilate.

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What Financial Stumbling Blocks Are You Faced With?

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When it comes to money, we all have things that we are comfortable with and things that we are not. It’s only natural. Because money is definitely one of the areas of life that we aren’t always okay with talking about. Or thinking about. Or even dealing with. But at the same time, your finances are real. And they are something that you HAVE to be able to get to grips with. Even if you’re struggling right now, that doesn’t have to be the case forever. But, if you want to be financial issue free, you need to make sure that you’re pushing through the problem areas. So this means that you have to not only identify them, but work on them. So let’s take a look at what financial stumbling blogs you could currently be facing.

Expensive Bills

We all have bills. We all have to pay them. But there are some bills that we pay that are definitely way more expensive than they need to be. And this could be because you’re just not shopping around. Here, you will want to make sure that you’re looking for cheap auto insurance rates or lower-priced home broadband deals. If you can reduce the cost of what you need to pay, you will free up money for the things you need.

Unnecessary Bills

But then also, there are likely to be bills that you really don’t need to be paying for! You may find that you have duplicate bills, or subscriptions that you really don’t need. If you want to make sure that you’re only paying out on what you need, go through your bills and expenditure and cut out what’s not necessary.

Low Income

If the amount of money you earn is restricting you, you need to change that. Come up with a plan to help you get a pay rise, look for a new job, or even get a second job! Or maybe you like the idea of starting a side hustle? This could help you to increase your income too.

Overspending

So from here, maybe your main issue is that you’re just spending way more than you earn. And this will ALWAYS be a problem. We will address poor habits next, but this one is something that you should really look to weed out if you struggle with it. Because you will never be able to get through your financial issues if you’re getting into debt and constantly spending more money that you should be.

Poor Financial Practices

Then the final thing that you may be faced with, is bad financial habits. And this can be tough. Maybe you know that you’re not in the best possible position and that you don’t handle your money well, but you just don’t know what your issues are or how to change them? This is where you’re going to want to really address how you think of money and how you act with it too. So that you can start to build better practices that will help you to be financially healthy.

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3 Things You Need To Build A Successful Construction Company

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The construction industry is an incredibly lucrative and fairly safe industry to get into. Even in tough economic times, there are usually opportunities for construction companies and if you can expand enough to start landing those big contracts, you stand to make a lot of money. But starting a successful construction company is easier said than done, especially when there is so much competition out there. It’s going to cost a lot of money to start your own construction company so if you get it wrong and the business ends up failing, you could land yourself in some serious financial trouble. To stop that from happening, here are some of the main things you need to consider when you’re starting your own construction company.

Safety

Health and safety is a concern in any business and it’s up to you as the boss to make sure that you’re creating a safe work environment. That’s not too difficult in an office setting, for example. But on a construction site, it’s a lot harder. You’ve got all sorts of dangerous equipment lifting incredibly heavy loads. There is a lot of hazardous chemicals to deal with as well so there is a huge list of health and safety regulations you’ve got to stick to. When you’re first starting out, it’s best to get some help in this area. There are some great companies like Ranger that offer good safety equipment and they’ll also be able to carry out inspections to make sure that everything is in good working order and you’re not breaking any health and safety rules. If somebody gets injured and it’s a result of poor safety on your part, you’re going to be in a lot of trouble.

Sustainable Materials

There is a huge focus on sustainability as people are more concerned about their impact on the planet. That’s why sustainability is important in all businesses, but particularly construction. A lot of public projects also have very strict guidelines about their impact on the local environment. You need to focus on using sustainable materials and building methods in all of your work. If you don’t, you’re going to get overlooked in favour of other companies that have a stronger focus on sustainability.

Core Customers

The best way to build a construction business that works is to focus on a core group of customers to start with. Word of mouth is one of your best marketing tools, especially when you’re first starting out. That means you need to offer a great service and, most importantly, get the work done in a good time frame. If you keep taking on loads of jobs and you don’t have the manpower to get them done in a reasonable time, your customers aren’t going to be happy. They’re not going to recommend you to their friends and they certainly won’t use you again in the future.

Remember these 3 key things when you’re trying to start your own construction company and you’ll be a lot more successful.

Posted in Business & Finance, Money, Property1 Comment

Savvy Cash Decisions For Financial Comfort

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It can be a challenge to cut back and save money, especially when you lead a busy life juggling work commitments and family life. It’s easy to get stuck in a routine and miss the little things that are eating away at your hard-earned money. However, with a little time and thought; you can rethink your household spending and save large amounts of cash. If you’re struggling to pay for everything, feel like you’re in a rut, and aren’t sure how to change things; it’s time to address all the little expenses that add up. The following are some ideas and advice for those who want to manage their finances effectively and cut back, but aren’t sure how.

Your Providers

It’s easy just to continue using the same energy provider and not to think about a change. However, energy companies and providers are all after your business and will want the opportunity to speak with you and offer you a better rate than what you’re currently paying. Aside from lighting your home with candles and never using the heating again; switching where you get your energy from is the only way to lower your monthly costs. It might seem like a time-consuming chore; however, there’s plenty of online advice available, that can help you to choose which company is right for you and will inform you of all the price changes. If you’re smart about your energy bills; you save hundreds every year, so surely it’s worth looking into.

Your Transport

If you own a car; to get to and from work, or do the school run with, you’ll be spending money on maintenance and fuel on a regular basis. Therefore you might want to reconsider the model of car you’re driving, and switching it to a more fuel-efficient option. It’s worth looking into what will give you an insight into what’s currently available on the market, and you can learn about purchasing a used car, to save even more money. If you pay for a car on finance; you may be able to lower your monthly repayments by using a different dealership or company, so that you can save the excess. It’s also worth understanding how to better maintain your car so you can avoid costly repair work in the future. If your family has two cars parked on the drive; consider reducing the number to one. Work out if public transport is feasible for your family and you could halve your monthly car cost and get a lump sum from the sale of the other in no time.

Your Supplies

Being savvy when it comes to your supermarket shop is far easier with the internet and the countless reviews and advice available. Therefore, making the best decisions so your family can save on the weekly shop. Choose store’s own brands instead of the big labels; supermarkets are competitive companies and will do all they can to impress you with their items. For larger items; price comparison websites are worth looking at, and once you’ve chosen what you need, you can find the relevant reviews to ensure you’re making a wise choice. Only spending what you really need to and budgeting wisely is the best way to save in the long run, so explore all your options when it comes to your household costs.

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Making Money from Your Garage

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Do you keep your car in your garage? If you do, you might be in the minority. Your car would be safer in your garage, and you might find that your car insurance is much cheaper if you can say that it’s in the garage every night (in fact, an awful lot of us tick that box whether it’s true or not). But, the truth is, most of us leave our cars on the drive or even in the street, instead of parking them in the garage. Sometimes, this is because it’s just too much trouble to drive it in and out of the garage all of the time. Some people even find that their cars don’t actually fit in their garages, either because there’s that much stuff in there already or because modern vehicles are significantly wider than those from the past.

The sad truth is that while many of us paid more for a house with a garage, most of us don’t use them as they were intended. But, that doesn’t mean that you can’t make money from them. Here are some ways that you could earn cash with your unused garage.

Get Selling

The very first thing that you should do if you want to make money from your garage is clear it out and find things to sell. Old tools can be sold at western sales management auctions, often for a good profit if they are in good condition. This is especially beneficial if the tools weren’t even yours in the first place or you never use them.

Other than tools, you might find other collectables in amongst your old junk, and even broken appliances can often be sold for parts. Remember, your junk might be someone else’s treasure.

Turn it into a Guest Room

If you live in a relatively modern house, and your garage is attached to your main home, it might be wired, insulated and even plumbed in. If it is, this can make it quite easy to turn your garage into another bedroom. You could make money from this by renting it out permanently, or by using Airbnb to make a regular profit. This is especially useful if you live in a desirable area.

Hire it Out as Storage

Many people nowadays spend some time living in small flats or houses. They are often on the lookout for cheap storage spaces for long-term use. Clean your garage out and rent it to someone as a storage space. Just make sure that you are clear about any access rules.

Hire it Out as a Parking Space

If you live near a busy town or city, parking is possibly in high demand. Many people walk or take the bus to work to avoid extortionate parking costs. Your garage could be the answer. Hire it to someone as a space to keep their car while they are at work. This can be a good idea even if you do use your garage for your own car, just hire it out around your own needs.

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Here’s How You Make Sure that You Have Found The Right Car

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Image Source: https://bit.ly/2jr307xFinding a new car can really be a daunting experience to say the least. After all, you really do have so much to think about and you also have to consider the investment that you are making as well. If you want to get the best result out of your car and the purchase that you are making then there are a few things that you can do to try and make the whole thing easier on yourself.

Be Honest

The first thing that you need to do is be honest. How often do you go up into the mountains, carry large goods or even transport rubbish to the local tip? If you don’t do things like this very often then there is absolutely no point in you buying a big car. You have to remember that in life, you have things that you want and things that you need, so work out what your actual life-needs are and then work out what you need from your car. This is one of the best ways for you to try and find out if you are making the best decision with your car and it will also help you to know if you are able to save money as a result as well when you are out on the road.

Budget

You probably don’t have a huge pile of cash lying around and for this reason you will probably need to take out a used car loan. When you do this, you will need to take into account your payments, your insurance, your maintenance, registration, repairs and more. There are so many car loan providers out there who can help you to work all of this out and there are even online calculators as well. When you are able to take this information into account, you will soon see that the whole thing is super easy for you to do and you shouldn’t have any issues at all.

Image Source: https://bit.ly/2RW38NwUse a Car Finder Tool

Believe it or not, there are so many auction sites out there that give you the chance to find the perfect car for your needs and you can even search by the category for your vehicle, the options that are available and even the price as well. When you do this, you really do eliminate the chances of you overspending and you can also stop yourself from getting a car that is not really suitable for your needs as well.

Test Driving

Sure, the car that you are getting right now may be similar to the car that you have already but this is not the case at all. You should always make sure that you test drive the car as much as you can and you should also try and put the work in to see if it suits your driving style. Some people are more drawn to certain cars when compared to others and the last thing that you need is to be locked into a deal with a car that just doesn’t suit your driving style.

Posted in Health & Lifestyle, Money, Travel2 Comments

Things To Consider When Writing Your Will

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Death isn’t most people’s favourite conversation topic. However, addressing your will is imperative. To ignore this duty would heighten the risk of leaving your family in a terrible financial position if you were to pass away. It is not only the money that matters either. You have to think about appointing a guardian for your minor children as well. Don’t you want this to be in your control? All things considered, to say writing a will is imperative is a monumental understatement. The necessity of this cannot be put into words.

Image Source: https://bit.ly/2Ow1y6YWriting a will can be a lot more difficult than imagined. There are so many different aspects you must consider. As mentioned, appointing a guardian for any minor children is imperative. It is always recommended to identify a first and second choice. You should explain why you think the adult in question will provide stable and continuous care. You must also state the relationship between the child and the adult.

Another role you will need to identify is the beneficiaries of your will. From properties, to money, to smaller assets; you need to embark on thorough estate planning. Most people tend to leave their assets to their partner and their children. Don’t neglect the ‘what if’ possibilities. What if you and your partner passed away at the same time? What if you are remarried – Do you want your assets to go to your children rather than your new spouse? Also, a lot of people don’t realise that their debt is deducted from their estate. If you don’t want your kids to miss out, use a credit card monthly interest calculator and put together a debt repayment plan so you can get this paid off sooner rather than later.

In addition to the points that have already been mentioned, you will also need to decide on a personal representative to execute your wishes. The word ‘representative’ is imperative here. You have to trust the individual’s judgement. In fact, your judgement will be in question when writing your will as well, in the sense that you must be of sound mind before you begin to write it.

Knowing what not to include in your will is just as important as knowing what to include. Some of the things that cannot be incorporated are certain types of property, such as; joint tenancy property and property in a living trust. Many individuals are tempted to leave their funeral instructions in their will. This is ill-advised. In most cases, the settlement of your estate and alike will not be handled until after your funeral.

It is also worth noting that your will may need to be updated on one occasion or more. A lot of people write their will and then they put it to the back of their mind and never think about it again. However, circumstances can easily change. What if you end up getting divorced? What if the person you identified as a guardian is no longer suitable? What if your finances have changed? Updating your will is imperative.

Finally, professional aid is always recommended when it comes to writing a will. This will guarantee that everything is handled the right way so that your family and loved ones are protected in the event of your death.

Posted in Family, Health & Lifestyle, Money3 Comments

Are You Managing Your Finances Effectively? Let’s Discuss

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Image source: https://bit.ly/2AeCSHpNo matter what you do, your financial situation can really dictate your lifestyle. Money doesn’t make you happy, we know that, but it can make life easier when things are managed or you feel comfortable with your situation. So in any circumstance, when it comes to your finances, the last thing you should do is bury your head in the sand. It is always best to take control. But how can you manage your finances more effectively? I wanted to share with you some of the things that you could try.

Tackle debt once and for all

Sometimes our biggest outgoing can actually be the debts we have to pay back. The issue can come from not just the amounts, but the rising costs to pay them back when it comes to interest. A great idea is to try and consolidate those debts into one payment instead of multiple ones. This means that you only have one cost of interest as well. A quick look online will highlight the best consolidation loans around to help you get started. If this isn’t an option, then focus on paying more off the one that is costing you the most. Reducing your debts is a long journey, but it can help you get to financial freedom and free up more money each month when you do.

Budget and be savvy with your spending

There will always be spending that needs to be done. You will buy food every week to feed yourself and the family, you will need clothes when things are worn out or a change in the season, and of course, we all need a lifestyle where we get to spend time with the people we love. Don’t let the costs spiral out of control and be more savvy with your spending. Meal planning can help reduce the costs of food, using coupons and discount codes can reduce the costs of spending on other items or evenings out. Looking out for deals can also be a great way to still enjoy yourself without the big bill.

Could you be spending less on those bills?

On the subject of bills, are you really spending the least amount possible? The truth is, you probably aren’t. When was the last time you switched your energy provider? When was the last time you looked at the insurance products you have? Sometimes loyalty doesn’t pay, and you could be missing out on cheaper rates and deals with other providers.

How much do you really have left as disposable income?

Finally, could you be doing more to increase your disposable income? The answer is likely to be yes. There could be bills leaving your account each month that you thought had been cancelled. You may have been spending more on regular debits or wasting more food instead of buying less. However, you could also boost your disposable income in other ways. Decluttering your home and selling unwanted things online, or even looking at ways to make a little extra online. There are things you can do if you were a little more proactive.

I hope that these tips help you to manage your finances more effectively.

Posted in Health & Lifestyle, Money2 Comments

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