Tuesday, May 21, 2019

Top Ways To Make Your Money Work Harder For You

Living a comfortable lifestyle is something most people aspire to. Not having the
worry of money or when the next paycheck will come in can make life that little
bit easier. With the rise in living costs, it can be challenging to put some aside for
a rainy day. However, if you do have some spare cash, there are few ways to
make it work even harder for you. By changing a few things and researching
your options, you could discover a range of ways to make even the smallest
of investments reap well-deserved rewards.


Check out some of the top ways to make your money work smarter and harder for
you.

Compare banking products

Most people stay with the same bank for many years, but a simple look around at
offers could get you a little more interest on your savings. It’s not just savings that
benefit too – if you have a credit card or loan, switching products could save you
money on interest repayments. There are tons of offers available, and if you’re
stuck on where to look then head to comparison sites for a simple search.

Invest in property

Property is said to be one of the best investments if you’re looking for long-term
gains on your money. The property market does go up and down; however, there
are pockets of property and locations that are always in demand. Spots, where
there is beachfront land for sale, is still a top choice, as the demand for holiday
homes and luxury developments in this area offers a high return if you can get
it at a reasonable price.

Lend your cash with peer-to-peer organisations

Peer-to-peer lending can be a great way to earn some extra money by helping
out other businesses. This scheme sees you lend money to people who often
can’t use traditional methods of finance. You can earn favourable rates from
this type of lending; however, it isn’t without its risks. So be sure to do your
homework first before committing.

Invest in stocks and shares

Investing your money in stocks and shares can be a challenging task. You
need to think about where you’d like to invest and consider the possible returns
you could get. As with anything that offers good returns, there is always an
element of risk, and even the most experienced of investors lose money now
and again. This type of investment can, however, give you some high returns,
but it is always advisable to do your research and potentially seek advice
before leaping in.

Start a business or invest in an organisation

If you have some spare cash, why not start a business or invest in one. This
is not only a great way to make some money from your savings, but it also
offers the opportunity to share your skills and contribute to a fledgling
business idea. You could also take the leap into a completely different industry
than you have expertise in to broaden your horizons and also gain experience
in another field.

Sunday, May 19, 2019

5 Ways To Fund Your New Business




Photo by Brooke Lark on Unsplash

One of the hardest things about starting your own business is knowing how you
are going to fund it. Although there are various different methods to start funding
your business, not all of them will be suited to you. Whether you don’t have the
skills to start investing in the stock market or you haven’t got the means to start
a savings account - you need to work out which method of funding is the best
one for you. With that in mind, here are 5 ways to fund your new business:

  • Set Up A Savings Account And Contribute Regularly

If you are looking for a long-term way to start for a business you are going to be
starting in a number of years, setting up a savings account and contributing
regularly is one of the best ways to get started. If you set up a direct debit from
your current account, chances are you will barely notice the money leaving each
week or month. Once you have enough money in the account, you can withdraw
it to get started on your business. For a guide to setting up a savings account,
you can visit this site here.

  • Consider Government Funding

If you think you’re going to struggle to get together the funds but you want to start
your business as soon as you possibly can, you may want to consider getting
government funding. Whilst they can’t always offer to fund to everyone that applies,
they will help a certain number of people in need out. The best thing to do is to
meet with an advisor, as they will help you submit your application. After you’ve
submitted, they will be in touch with you should they be able to help.

  • Get A Business Loan Or Credit Card

Another great way to fund a business start-up in a hurry is to get a business loan
or credit card. Whilst you will need to have good credit in order to do this, it will
definitely help when it comes to those initial costs. The important thing to
remember with a loan or credit card is that you will need to be able to pay it off in
instalments in the months following your launch.
For more information when it comes to business loans, you can visit this site.

  • Invest In Business’ You Believe In

Although you will need to have a small number of funds and a lot of time in order
to invest, investing in business’ you believe in is a great way to raise money.
Whether you’re investing in the grain market or the financial market, you need
to be sure you are investing in something that is going to have a great return in
a number of months or years. For more information on how to
grow your finances in grain markets, you can visit this site here.

  • Work Part-Time To Build An Income

Finally, depending on how long you have and how much you need to raise,
you may want to consider keeping a part-time job alongside setting up your
business.

Are you thinking about starting a new business? How can you fund
your startup? Let me know in the comments section below.

Friday, May 3, 2019

5 Mistakes To Avoid When Purchasing Property


There’s a lot to consider when buying a property. As a result, certain costs and
requirements can easily get overlooked. Here are just five mistakes that you should
try to avoid when purchasing property.

Only budgeting for the deposit

Saving up for a deposit on a property can take a long time – especially if you’re a
first time buyer. Whilst this may be the biggest expense when buying a property,
it’s important to remember that it’s not the only cost. You also need to afford
mortgage valuation fees, conveyancing fees, inspection fees and possibly the
cost of hiring a removals company. Make sure to factor all this into your budget so
that you don’t end up getting caught short of money just as you’re about to
make your purchase.

Accepting your first mortgage offer

Never accept the first mortgage offer you receive. There are hundreds of mortgage
lenders out there and they will all have different offers. By shopping around, you
can find the best mortgage for you. You could even consider hiring a
mortgage broker to help you shop around – brokers may have access to deals
that you can’t find on the market due to close relationships with lenders.

Skipping the inspection

You should always get a property inspected before purchasing it – this will help to
notify you of any damage that could result in future repair costs, possibly preventing
you from buying a property that could be expensive to maintain in the long run.
There are many surveyor companies that are able to do
independent building inspections. Don’t mistake the mortgage valuation for
an inspection – a mortgage valuator carries out an inspection for the sake of
your mortgage lender and is unlikely to offer you any advice.  

Not researching the neighbourhood

The location is just as important as the property. In fact, if anything, it’s more
important – you can renovate a property to make it more to your liking, but you
can’t change the area. Make sure that the neighbourhood has all the facilities
you need. You may also want to do some online research into the crime rate
to ensure that it’s a friendly place to live. It could also be worth looking up
prices of other properties in the area to ensure that you’re getting a good deal.

Not considering your future plans

If you’re buying a property that you hope to live in for a long time, make sure
that it meets your needs in the foreseeable future. If you’re planning to start
a family, consider whether the home is spacious and child-friendly enough.
If you’re choosing a home to live out your retirement in, consider whether
it’s worth choosing a single-storey home in case your mobility deteriorates.
On top of this, consider any renovation plans and whether you’re likely to get
planning permission. All this will save you having to uproot and move again
in a few years time.

Friday, April 19, 2019

Is It Impossible to Buy Your First Home?

Most people tend to grow up with a certain set of goals laid out for them, no matter who
they are. We all know how it goes: you go to school, you go to university, you get a job,
and you buy a house. However, for a lot of people in the modern era, there are a lot of
ways in which this plan doesn't really work. In particular, a lot of people find themselves
coming up against the final point: buying a home. For a lot of us, the idea of being able
to buy our own home is a powerful aspiration. However, it can often feel more and more
like it's always going to be just out of reach. For older generations, it was just expected
that they'd be able to do it. Now, a lot of people can end up feeling like they're just going
to end up either renting or living with their parents. But if that really the case? Is buying a
home really so impossible? Well, not quite. With that in mind, here are just a few things
that you can do in order to increase your chances of being able to afford your very own
home.

Be willing to compromise


One of the biggest things that often stands between a lot of people and their ability to buy
their first home is that they have a heavily idealized notion of what their first home will be like.
Sure, the idea of being able to find your forever home that you will make perfect and live in
forever is lovely but it's just not all that realistic. The truth is that most of us will move around
a lot and the first home that you buy is not necessarily going to be the perfect one. If you're
willing to compromise on certain things you're going to find getting onto the property ladder
a whole lot easier. Think about the things that you can compromise for the sake of a cheaper
home. Whether it's size, location, style, or anything else. Sure, you don't want to end up
somewhere that you really hate, but being able to compromise on certain things can be
incredibly valuable.

Look further afield

A lot of people find that they struggle to find the right home for them at the right price without
realizing that they have been limiting themselves pretty significantly in a lot of ways. One of
the most common ways in which people end up limiting the kinds of homes they can find is
by sticking to one specific location. Being willing to branch out and look further afield when
it comes to finding a home is one of the best things that you can do. Not only does this
mean that you're going to be able to check out many more properties than you would be
able to otherwise, but many places also have much lower property prices than others. For
examples, there are often many Spanish properties available at far lower prices than in other
places. Not only does this give you the chance to find a great home, but it also lets you see
a new part of the world that you might otherwise never have been able to experience.

Consider alternatives


One of the most creative ways that a lot of people have found to get themselves onto the
property ladder is to look towards other property options that they might not have previously
considered. Sure, there's the ongoing debate of whether a house or an apartment is superior
and there are plenty of positives in either direction. However, if you want to go even further
with that then why not look into something like a houseboat. A lot of people are buying
houseboats because they're far cheaper than traditional properties and allow them to get
their foot in the door in terms of buying property. Sure, that's not going to be the lifestyle for
everyone but if you're really struggling to buy a home, it might well offer a promising
alternative.

Be careful with your money

The biggest issue for a lot of people when it comes to trying to buy their first home is the fact
that the cost of a deposit is often so high. In fact, that's often the one thing that makes a lot
of people think they could never buy a home at all. Sadly, there isn't much you can do to
bring down the cost of a deposit but there are ways that you can help to afford it more easily.
The most obvious one is just to start saving your money. A lot of people tend to assume that
they won't be able to put any money away because their income isn't high enough or they have
too many bills to pay. And sure, there are a lot of factors that can make saving harder, but
even if you're just putting away a little bit of money here and there, that kind of thing can add
up a whole lot more quickly than you might expect. That way, when the time comes to start
thinking about buying a home, you already have a financial cushion ready for you.

The reality of buying a home is that it's not something that you're ever going to be able to in
the spur of the moment. No matter what you're able to do in order to make it easier for
yourself, you're still going to end up in a position where there are potential challenges
standing in your way. One of the most common things that tends to happen is that people
assume that they can't buy a home when the truth is that they simply can't buy one right now.
You have to be willing to be patient and to understand that buying a home is often a long
and difficult process, no matter your circumstances. If you try and rush into it then you
could end up making life even harder for yourself than it needs to be.

Tuesday, April 16, 2019

Questions To Ask Before Buying A Car

If you are buying a car, there is a lot to think about. After all, there are so many
different types of vehicles that are available today. Not only do you need to consider
the make and model of car you are going to go for, but you also need to think
about how you are going to fund the car and how much it is going to cost you to
run overall, amongst other things. So, with that being said, continue reading to
find out more about the key questions you need to ask before you buy a car, no
matter your financial situation.


Is purchasing the right solution? To begin with, you need to determine whether purchasing the vehicle is actually the
right option. You could save money with a Novated car lease if you don’t have
the savings spare to buy the car in one go outright. This is a financial arrangement,
which is highly tax-efficient, and enables you to salary package your car. A lot of
people prefer this, so they have something to show for their money. Not everyone
can afford the large start-up costs associated with this option, and so leasing may
be the more financially viable option. Plus, many people opt for a Novated
lease due to the tax benefits, as well as the savings on the purchase price
and running costs.

Cost of the car AND the cost of running it
When buying anything you have to consider the price of it. This is clearly no different
when it comes to a vehicle, especially as it represents a big expense. You don’t
want to go for the cheapest car you find, as this is likely to correlate to poor
levels of quality. However, you obviously want to make sure you get a good deal.
Nevertheless, one of the biggest mistakes people make is making their purchase
solely based on the cost of buying the machine. But, what about the running
costs? This is something that needs to be carefully assessed. After all, there is
no point buying a cheap machine if it is going to cost extortionate amounts to
run. All cars have different running costs based on factors like fuel efficiency and
insurance, and so it is important to sit down and work out how much the car you
are considering is going to cost you.
Reviews that have been left by previous customers
The next thing you need to do is read reviews that have been left by previous
customers. What have people who have already purchased the car had to say
about it? Were they happy with it? Have they experienced any problems? This
is the only way you will get an honest insight into whether the car is worth
purchasing or not. After all, if the product is one that is not good quality, you
can be sure that plenty of people will have taken to the Internet to show
their dissatisfaction and warn others from making the same mistake.
Servicing and spare parts
Last but not least, it is advisable to go for a company that offers servicing and
spare parts. This is something a lot of people do not bear in mind when they
are buying their vehicle. However, if you think about it now it will save you
a lot of hassle in the future. Buying from a company who offers this is highly
advisable, as you can be certain they will have the exact spare parts you
need for your machine specifically. Moreover, they will have experience
serving the vehicle you have purchased as well. It is much safer to go
down this route.

If you carefully consider the four points that have been mentioned you should
have no trouble buying the right car for you. Firstly, remember to assess
whether it would be better to lease or purchase. Once you have done this,
take into consideration the cost of purchasing and running, make sure the
company has a servicing option available and read reviews that have been
left by those who already have the machine.