Thursday, November 16, 2017

Never, Ever Do These Things After A Crash (If You Like Your Money)


That feeling of dread is about as horrendous as it can get. That sudden loss of senses as your stare in every which way unsure of what just happened, your ears ringing, your car looking like it just rolled down a scrapheap mountain, a vista of panicked faces and the worry that the adrenaline is covering up a montage of injuries. It’s all horrendous.

But as bad as all this sounds, it can get a whole lot worse if you don’t play your cards right. A. Whole. Lot. Worse. At the kinder end of the scale, you could see a hefty fine land in your lap after a lost court case and, at the other end, you may find yourself getting harangued by the law.

That is why we have come up with a list of things you absolutely must not do after being in a car crash:

Never, Ever: Flee The Scene
Even if it is the most minor collision ever known to humankind, where everyone seems to be unharmed and the only apparent damage is a cracked side-mirror, the worst thing you can do is leave the scene. At least, that’s what the motor vehicle accident lawyers we spoke to said. No matter how minor, you have to stop, check on anyone else that’s been involved, exchange insurance details and report it to the law. Don’t do that, and you’re minor accident blossoms into you breaking the law, which can be super expensive. Leaving and get caught for it (and you will get caught), could see you become thousands of dollars out of pocket and possible community work.

Never, Ever: Forget To Call The Cops
It can be all too easy to think, “ah, it’s nothing, no need to call the cops and waste taxpayers money,” but this could be the worst mistake you make. Not only could it be an offence, but your “gentlemen's agreement” to let the insurance people sort this out and not involved the cops could backfire. They may not have up-to-date insurance, they may have an arrest warrant, someone may need medical attention or they may, in fact, report it to the police and say you fled, which wouldn’t be great when you arrive at court. One in seven drivers doesn’t have insurance. One in seven. It really isn’t worth the risk.

Never, Ever: Get Too Confrontational
Emotions are bound to ruining high, especially if you weren’t at fault for the collision. However, getting aggressive, confrontational or just downright losing your cool is not a great way to go. Instead, swallow that emotion and ask if they are alright. Laying the blame on them is not going to fix anything. What you really need is to assess the situation with a clear mind, exchange details, take photos of everything, speak to witnesses and do all you can in terms of documenting the accident. However, don’t go the other way either and tell people at the scene it was your fault. Do this and you are legally admitting liability, which could see you get slapped with a heavy lawsuit, endless debt and a crazy mix of other penalties to boot.

Wednesday, November 15, 2017

Becoming Scrooge McDuck: 3 Secrets Of The Super Rich

Do you want to be rich? Do you want to have more money than you know what to do with? Of course, you do, you’re probably already positively drooling at the thought of all that money. To do this, you need to understand how people get rich and it’s probably not what you’d expect. There are three secrets of the super rich that you need to be aware of if you want to succeed. Let’s start with the big one that most people miss completely.

It’s More Boring Than You Think

You probably think that to get rich you have to accomplish something amazing. You have to be famous, you have to be a god on the stock market, but that’s not the case. It just seems that way because the media loves an underdog story. If you look at ways to get rich in the news, it’s easy to assume that it involves one in a million chances and occurrences that are similar in odds to a miracle when of course, this isn’t true at all. These are just the more interesting stories. No one wants to read about how someone took an advanced degree in master operations management to gain the skills they needed to reach the top of a company. Or how someone else slowly climbed through the ranks to reach the top of a business. No one even wants to hear about how someone had made their fortune simple selling things on eBay. It’s a shame because ninety percent of the time when you’re wondering about someone who went from broke to loaded, that’s exactly what happened.

It Won’t Happen Overnight

One of the biggest mistakes that you can make when you’re trying to get rich is thinking that change is going to come overnight. It won’t, it never will. The change will be an arduous journey of trial and error. Some years you will be making next to nothing on your journey towards a decent income. Getting wealth always takes time, and anyone who said it came easy is either lying or wished on a magic star. Even the people who seem to have made their wealth in minutes with next to nothing are hiding a long and painful journey that they had to take to reach the top.

It’s About Management

It’s not about making more money in most cases but rather about managing what you have already made. The rich aren’t rich because they make a fortune, they’re rich because they make a fortune and then don’t spend it. The classic would be cars. If you see someone driving around in a two hundred K car and they are not in Hollywood either they aren’t rich, or they won’t be for much longer. You can’t stay in the money if you’re spending like it’s going out of style. Start budgeting, and you’ll find you have a lot more money than you think and that’s the truth of it.

We hope these three secrets help you see that being super rich isn’t as unobtainable as you think. It requires work sure, but if you want to be Scrooge McDuck, it’s not outside the boundaries of possibility.




Monday, November 13, 2017

Building Your Dream Home

Building your own home is a dream for many people. It gives you the chance to get your property exactly the way you want it. To add the finer details that only you would think of, and to create your perfect home, the one that you have always dreamed of.

Often, building a home can be cheaper than buying one. Especially in the climate of the current housing market. So, it’s not usually the cost that puts people off. It’s the effort. Buying a house you’ve seen advertised online does come with its challenges. You have to get surveys and solicitors and apply for mortgages to start with. But, it’s something that most of us know how to do, or at least where to find the right guidance. People buy houses all of the time. Building one, well, that’s completely different.

If you’ve always dreamt of building your own home, here is a look at all of the things you need to consider.

Design

The design of your house is critical. Even if you’ve got some ideas, if you’re not trained you should hire architects to help plan your ideas properly and make sure it’s feasible. Try not to get carried away. Instead, make sure you plan to include all of the basics you need for a comfortable and functional home. Then, add the extras.

Land

Once you’ve got an idea of what you want from your home and some rough measurements, you’ll need to find the plot to build it on. Remember, you can’t just go out and build a house where ever you want. You’ll need to purchase the land.

Empty land in big cities has often already been bought by a large company thinking to build in the future. So, you may want to look further afield for your perfect plot.

Finance

If you can afford to buy the land and the materials and hire help yourself, that’s fantastic. But, just like buying a built house, most self-builders need some financial help.

In most cases applying for a self-build mortgage is actually very similar to applying for a normal mortgage. If you’ve got a good and stable credit history, and are in employment, you may be able to borrow up to four times your income.

Legislation

To get started on your build, your house plans will need a certifier's approval, as well as the go-ahead from the local council. Contact them directly with copies of your plans to get started. Once built your home will also need to undergo health and safety testing before you can move in.

Time

Building a house can take a lot longer than just buying one. So, make sure you plan accordingly. Do you have somewhere to live until it's finished? You don’t want to rush and make mistakes, so it’s vital that you give yourself plenty of time.

Budget

It’s also essential that you budget very carefully. If you run over on time, you’ll have to pay for somewhere to stay for longer and pay your contracting team extra. Budget very carefully and try to leave at least 10% of your total budget to cover emergencies or unforeseen circumstances.


Thursday, November 9, 2017

The Biggest Challenges You'll Face Being Your Own Boss

Being self-employed comes with a lot of benefits. You can choose your own hours, take holidays when you like, and be your own boss. It’s just a far better way of working for some people which is why 17 percent of the total population decided to take the plunge and go self-employed. If you’re considering it yourself, don’t think it’s all about taking time off and finishing early every day. There are a lot of challenges involved with being your own boss and the risks are almost always greater than working for somebody else. The only way to decide if it’s right for you is to weigh up those risks against the benefits and see whether you think being self-employed is the right fit for you. These are the biggest challenges that you’ll face.

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Finding A Focus

When you’re employed by a company, they’ll tell you exactly what you should be doing. The focus and direction of the business are decided by somebody else. They’ll work out which areas the business is going to focus on and how they’re going to break into those markets. You’ll just be tasked with carrying out their strategies. Those decisions are the things that make or break a business in the early days. Going after the right target market is vital because if you’re trying to win customers from competitors that are already well-established, you’re going to struggle. When you’re self-employed, you need to make all of those decisions for yourself. If you’ve got a good business brain then there’s every chance that you’ll make good judgments but all too often, people set up their own business and overlook the importance of finding a strong focus. Whatever your industry is, you need to look for gaps that nobody else is filling.

Dealing With Finances

Dealing with your finances is one of the hardest parts of being self-employed. If you’re working for a company, there’s an entire finance department that will deal with paying everybody, sorting out taxes, and keeping track of how much money goes in and out. A few years down the line when you’ve expanded you can probably get your own accounts department but to start with you’ll have to do all of that yourself. It’s worth investing in some accounting software which can do a lot of that stuff for you.

If you don’t want to land yourself in some serious trouble, you need to pay all of your taxes correctly and on time. It’s not as difficult as it used to be because you can do your tax returns online. Learn more here about how to fill out the forms and what you’re likely to owe. As well as sorting out what the company owes, you’ll have to make sure that you’re paying the right amount of tax for all of your employees as well. You won’t get any sympathy for being inexperienced and any mistakes are going to result in a hefty fine.

Once you’ve paid all of your taxes, you need to deal with what’s left. In the early days of the business, the amount of cash coming in is likely to be pretty limited. In order to survive, you have to spend that limited amount of money sensibly. When you’re choosing your own wage, it might be tempting to pay yourself loads of money, but this comes later. In the first few months and years, you’ll have to make some sacrifices and take a fairly small wage until you’re bringing in more money.

Motivation

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This is the other huge problem that self-employed people face. Usually, if you don’t do any work, you risk getting fired. There’s no way you can get away with sitting around all day doing nothing. But when you’re your own boss, you can. There’s nobody around to keep you motivated. Everybody experiences days when they don’t feel like working but you can’t just give in to those feelings. You have to be strict with yourself and force yourself to work anyway. The best thing to do is set yourself hours like any normal working day and stick to it. The flexibility of being self-employed is one of the benefits but if you aren’t careful, it can be your downfall.

Doing Things You Hate

There’s a big downside to running your own business and having to do everything. Some of that stuff is going to be things that you hate doing. When you’re working for somebody else, you’ll only have one role and hopefully, you’ll enjoy most of that. But when you’re self-employed, it’s pretty unlikely that you’re going to love every single part of your working day. The key is to keep your eye on the bigger picture. It’s the business itself and all of the other benefits that you love, even if there are a few things that you can’t stand doing. If you find that the bits you hate are outweighing the bits that you love, maybe being self-employed isn’t the right decision for you.

Firing People

There might be a small number of twisted people out there that enjoy firing people but the majority of bosses will tell you that it’s the worst part of their job. Unfortunately, it’s something that you just have to do sometimes. If somebody is costing you money you need to think about it from a purely practical point of view. If you find yourself in this situation then you’re probably going to have to let them go. Firing people is something that you’ll never get used to but if you deal with it compassionately and give people useful feedback about why you had to let them go, you can make it a little easier for both of you.

If you think that being self-employed is going to be easy and you can just take all the time off you want while your employees do everything for you, think again. It’s a lot of hard work, especially in the early days, and you’ll have to face all of these challenges.    

Tuesday, November 7, 2017

Building Your Financial Bucket List

An overhead shot of a pencil on an open planner next to a cup of coffee

In the modern world, most people have heard of the concept of a bucket list. This is a group of dreams and aspirations you have which you’d like to complete before your time is up on this planet, and will often include loads of wild and ambitious ideas. Of course, though, not a lot of people have a bucket list just for their money. This is a shame, as it makes a lot of sense to do this with your finances, and you could be missing out.

Throughout your life, you will get loads of chances to make good decisions about your finances. Of course, though, if you don’t know which path you’d like to follow, you will find it very hard to progress at all. Below, you can find some examples of the different areas most people will want to have on their banking bucket list, along with some tips to help you achieve them for yourself.

  • Property: Most people want to have the chance to be a property mogul at some point in their life. Offering a great chance to make some money, this sort of investment can be great, and it will take a lot to beat it. Looking for options like Laing & Simmons houses for sale, you can get a  good idea of what you’ll need to save. To get into this market, though, you will have to move as fast as possible, as it takes time to build your monopoly.

  • Business: In a lot of cases, the idea of working and making money for someone else will leave a bad taste in your mouth. Of course, though, if you don’t have any business dreams, you won’t be able to overcome this. Thankfully, starting a business has never been easier, and a lot of people will have the time they need, even while they’re working in a normal job. This makes it nice and easy to start pushing forward in life.

  • Investment: Of course, property and business are both different forms of investment. But, if you don’t know where you want to go with them, it could be very hard to make the right decisions along the line. You should always work as hard as possible to plan and predict the future of your money. With goals in place, it will be a lot easier to know exactly where you need to go.

  • A Legacy: Finally, it’s time to think about the legacy you leave behind when you pass, and the sort of options you have to build one. Of course, your property and investments will count towards this. But, along with this, life insurance and other financial products can make a huge difference to the legacy you leave for your loved ones. It’s almost always best to start this sort of coverage nice and early to avoid steep premiums.

Hopefully, this post will inspire you to start building a bucket list for your finances, giving yourself a solid route to go down when it comes to your future. Not a lot of people put this sort of time and effort into their money. But, without it, you won’t have a clue as to what needs to be done next.