Friday, March 15, 2019

A Better Financial Future For Your Business…

Asset management is the art of selecting, maintaining, inspecting and renewing assets.
The process involves making the best possible use of these assets so that optimum returns
can be generated and shareholder value maximized. It can also help to minimize business
risk as well. It is not surprising that this practice is something which is deployed by
many businesses and therefore correlates to the success of a company.

What are some examples of the assets found in asset management? The truth is that the assets
incorporated are extremely varied. They range from highly liquid assets to highly fixed
assets and thus can encompass everything from goods in stock, to buildings, to cash
in hand, to plant equipment.

To further understand why asset management is important it is worth considering what
will happen if you do not engage in this process. Essentially what you are going to be
doing is wasting your resources. This would lead to a lack of revenue and costs incurred
through the likes of depreciation, potential storage expenditure, and possible maintenance.
This is obviously dependant on how your assets have been wasted, for example, if you
stockpiled too many products all three possibilities would likely become a reality.

You now know what asset management is and why it is important. However, it is not an
easy task to embark on yourself. This is why you need a financial planning adviser for
asset management. The aid of an expert proves to be pivotal. You will gain the help from
individuals who have been trained and are experienced in this area of finance. There is
no room for error and professional financial planners can ensure you make the best possible
use of your assets.

Bridging the skill gap not only guarantees you benefit from the highest level of service,
but you will also have peace of mind and you will save a lot of time in the process. By
not having to focus on this area of finance you have the capacity to concentrate on the
core purpose of your business. Mastering the art of asset management is definitely not
something you can learn within a mere day or two, although Star Investing and resources
like this are great for improving your financial mindset as a company owner, so you
should definitely make time for the likes of this.

In addition to this, a good financial adviser does not operate via a one size fits all mantra.
They get to know your company thoroughly. They recognise that planning is a process.
It is not an event. They will take the time and make the effort to assess your company
thoroughly. They determine where you are at financially at present and where you could
be at by pinpointing opportunities for improvement.

Tuesday, February 19, 2019

No More Financial Fiascos: It's Time to Get Your Mind on Your Money

Are you forever counting down the days until Payday- borrowing from one person
to pay another and essentially living a ‘hand to mouth’ existence? Not only is this no
fun whatsoever, but it also puts you in a vulnerable situation. One unexpected bill
or expense could leave you basically homeless, lead to severe debt and generally
leave you in a whole heap of trouble. Here’s how you can protect yourself from
fiascos with your finances.

Get out of debt
Debt is expensive. You never just pay back what you borrowed, you’re always hit
with interest rates too (it’s how credit companies make their money, afterall) and
this interest can cause your debt to spiral. Every month that you carry a balance and
only pay the minimum payment back, your debt increases. It can get to the stage
where you’re only just keeping your head above water by making small payments,
and these get ‘sucked up’ by interest meaning the balance never actually goes down.
If you want a secure financial future, you absolutely have to get out of debt. If things
aren’t manageable then speak to a debt management company. They will be able to
recommend a debt management plan, an IVA or bankruptcy depending on your
situation and how much you owe. From there, interest will be frozen and you’ll pay a
set amount that’s affordable to you, until the debt is paid or you’re discharged
(depending on the route you take). Cut up your cards so you have to stop spending
on them, and don’t take out any more credit. Then, add up what you owe. It can be
a scary step, but a debt company or charity will walk you through everything and it
gives you the opportunity to get back on track.

Set a budget- and stick to it
Once you’re out of debt or paying back an affordable monthly amount, the next step
is to set a budget to stop this from happening again. A good tip is to open a bank
account that’s separate from your main spending, and is just for bills. Set everything
to come out by direct debit, and then work out how much everything comes to. That
way, each time you get paid you can transfer enough to cover your bills, and from
there they essentially take care of themselves. You don’t accidentally spend back into
bill money, and if you transfer a little extra each week or month you can create a
nice buffer. Make this transfer to your bills account first each time you’re paid, and
from there you can budget the rest, knowing that your important outgoings are covered.
With what’s left you’ll need to account for food, fuel or travel costs, socialising and
any little luxuries you treat yourself to. Ideally you’ll be putting some away to savings
too if you have any left.

Improve your career
One of the best ways to improve your financial situation long term is to improve
your career. If you’re stuck in a dead end job with no progression then your wages
are always going to be fixed. Changing jobs can be scary, it can even mean a loss
of earnings in the beginning- as you might have to study full or part time, or go into
a lower paid role to begin with. But if it allows you the opportunity to work your way
up then it’s worth going for it you can make it work at the start. Improving your
career could mean going back to university for three years in a related subject, or
just doing an online college course in your spare time. You could advance in what
you’re doing now, or look into changing fields completely.

Start a side hustle
A side hustle is a way to earn money in your spare time, doing something you enjoy.
If you have a hobby, look into ways you can monetise it. Do you have a craft you’re
passionate about- it could be baking, candle making, art or design? Look at ways you
can sell the end product. Another option would be to buy and sell things for a profit,
you can find good deals at wholesalers and then resell them, earning a little each
time. It’s a tried and tested business model and you don’t need any special skills to
be able to do it. It helps if you purchase items for your little shop that you’re interested
in, that way you have an understanding of the products you’re selling. For example,
if you’re interested in makeup you can find discount cosmetics and you’ll know the
best ones to pick that others are most likely to buy.

Make smart investments
Once you’ve managed to save some money through your improved career, side
hustle and better budgeting, it’s worth putting that money to work. Instead of it
sitting in a savings account, do some financial services research and find an advisor
who can make the most of it for you. This will earn you passive income, essentially
‘money while you sleep’ which is a good long term strategy. Whether you want to
cash it out in a few years and use towards a mortgage deposit or you want to retire
early, it’s something to look into.

Thursday, February 14, 2019

Money-Saving Staycation Hacks That Will Blow Your Mind

Travelling with kids isn’t easy. Without the right documents and thorough planning,
it’s hard to book a realistic getaway as a family. Thankfully, there are others way to
tick things off the bucket list and be a good mum, and a staycation is a perfect
example. This country has a lot to offer plus it’s a cheap way to see the sights and
enjoy a bonding holiday. Of course, even when a vacation is affordable you’d like
it to be less expensive because money doesn’t grow on trees. Thankfully, you can
make the pipedream a reality thanks to the mind-blowing hacks underneath.

Buy A House

Okay, wait a minute – what?! On the face of it, buying a holiday home seems like
a crazy idea. After all, you’re trying to save money, not waste it frivolously. Think
about it logically though, and you’ll see a different side of the argument. For one thing,
lake houses for sale are affordable even if they are a little pricey. A long-term mortgage
always reduces the monthly repayments. Secondly, one will eliminate the need to
constantly pay for accommodation, costs that rack up over a decade. Finally, the
resale value will be high so it’s not a risk. Once you’ve paid it off, with the help of
fellow vacationers renting it out, you can sell it for a profit.

Book Flights At 4am

Everyone knows the gist: book flights as early as possible for the best deals.
However, “early” usually refers to the date and not the time of day. You want to
purchase them weeks or months in advance. Well, it’s also a good idea to set the
alarm and wipe the sleep out of your eyes too. According to research, 4am
is the cheapest time of the day to buy flights so you need to be ready to rock and
roll. And yes, there is two four o’clock in one day!

Choose Freebie Destinations

The destination itself isn’t free but the activities it has might be depending on the
location. Usually, museums and art galleries are either free or very affordable as long
as it isn’t a major establishment. Parks are always open and don't cost a penny, so
you can spend all day in one if you have the right amount of imagination. Of course,
the beach isn’t going to go anywhere. Pick a nearby destination will all three of the
above and there is no reason to spend a penny on sights and activities.


It’s mind-blowing that anyone would want to cook on holiday because you do
enough of it at home. However, there is a caveat: it’s cost-effective. Going to the
supermarket and buying ingredients is nowhere as expensive as eating out three
times a day. The good news is you can make it exciting by investing in the local cuisine.
When you’re dealing with new and exotic recipes, the idea of slaving over a hot stove
doesn’t sound bad.

What would you be willing to do to save money on your next staycation?

Thursday, February 7, 2019

Paying For Your Bucket List: The Ultimate Guide

How many things have you checked off your bucket list? Two, three, or even five? Any
more than that and you are doing well, although you have probably come across the issue
of finding enough money to pay for them. After all, most things on a bucket list aren't
going to be cheap or local, or you would have done them already. Happily, there are
some methods you can use to save up the money you need to complete your entire list.
Just read the post below to find out what they are.
Cut down on unnecessary luxuries

One simple and easy way to start growing your bucket list fund is to stop buying those little
luxuries that soon add up. I'm talking about cutting down on those cups of coffee from takeaway
outlets, magazines, and even buying lunch at work.

Yes, at first it may seem difficult to do, but when you look back on your life would you rather
have the memory of doing some amazing and once in a lifetime things or the memory of a few
coffees and magazines to keep you warm? I know which one I'd rather have!

Combine your bucket list and retirement

Next, don't forget that your bucket list will always be a work in progress and you don't have to
get everything done straight away. In fact, many people like to start planning their bucket list
now, so they have something to look forward to in their retirement.

The advantage of doing it this way also means that you have longer to accrue the finance
you need to pay for all the adventures you bucket list holds. You can even get some
financial advice from a professional to help you with this. Something that can enable you
to maximize your savings,  income, and investments, so you can pay for your bucket list later

Prioritize your spending

Next, if you are looking to tick off some of these bucket list experience sooner rather than
later, you may just need to prioritize your current spending patterns. I'm not talking about
the smaller things like coffee and magazines here, but instead entirely putting experiences
before anything else.

What this means is that you may choose to travel the world above buying a house and getting
a mortgage or even getting a car. Yes, this may seem odd to some people that are all about
physical possessions, but the critical point here is that your life. Therefore it is yours to do
with what you will, and if that means putting experience before things will make you happy,
you should go for it!  

Earn some extra         

Finally, if you would rather take the middle road and experience some fantastic bucket list
adventures, but also maintain a stable and more normal living situation, then setting up a side
hustle to bring in some extra money may be the solution you are looking for.

Happily, there are great many to choose from, some of which you can find out more
about here, and that can even be fun in their own right. So what are you waiting for? Why
not start taking action that will pay for your bucket list adventures today?                                                              

Saturday, February 2, 2019

Climbing Out Of A Financial Hole

The start of the year always feel like you’ve hit the hard reset button on your life.
Unfortunately after the festive season a lot of us are left with little in our pickets for
anything and this can make things incredibly hard for us when we are trying to
live our daily lives. If by the end of the month you are still feeling as if you are in
a bit of a financial pickle, here are some of the things you can do to pull yourself
out of it once more.

Know your bank account

Honestly this can’t be stressed enough: if you don’t check your bank account
regularly to see what you have and what money is being paid out, you need to
fix this now. It is hard enough keeping on top of our money when we are living
our day to day life but if you don’t check your bank statement, you won’t ever
learn to budget for yourself. To avoid having to take out a loan like you need to make sure that you always know what
you have to spend. Be smart about this and be sure that you are aware of your
financial state each day.

Watch out for charges

As you look through your bank statement, now and again you might see a charge
you don’t recognise or something which you don’t recall you have been paying for.
If this is ever the case you need to look up the company to see if you know them,
and if you don’t, you should contact your bank immediately to stop the payments
and get in contact with the company. A lot of the time it can be a mix up, but now
and again it can be a scam which takes money away from you without you knowing

Budget for food

Budgeting most of your life is hard enough, but food can be the hardest thing to
try and control, especially if you have a family to feed each and every day. Make
sure that you take the time this month to be smarter with your food shop and
choose cheap meals over expensive ones. There are loads of big batch meals
you can cook worthless ingredients which will last your family for a few days and
save you a lot of money.

Pay a debt

If you have a few debts which you need to pay off, it is now the perfect time for
you to do this. Pay off whichever is your biggest debt first and take your time to
do this. Once the biggest debt is out of the way you can start working your way
down and bring yourself back to financial stability once more.

Skip coffee

Starbucks and Costa coffee are amazing when we need a fix and it is cold
outside, but they are expensive and they can really burn a hole in your pocket if
you have them each day. Be sure that you make your own coffee at home for work
and this will make all the difference.