Wednesday, December 5, 2018

Could Collecting Hobbies Provide The Lessons You're Missing When It Comes To Your Cash?

We aren't all naturally talented with money. Some of us face a minefield before
we can earn our first million. Sometimes, it can feel as though you need a teacher
in even the most fundamental aspects of money management. There must,
after all, be some lessons which you were never taught. How else could there
be such a discrepancy between you and those people at the top?

Sadly, there’s no such thing as money management lessons. At least, not in the
way you’re hoping. The closest you can get is
that you don’t learn anything, and you pay for the privilege.

Still, hope isn’t lost. There are plenty of habits which improve our financial capabilities.
These teach the mindset you obviously lack right now. Something as simple as a
hobby of collecting could work for this. On the outside, it’s a fun thing anyone can
get passionate about. Deep down, it’s teaching you the following crucial money
lessons.


A lesson in delayed gratification

It’s no secret that the millionaire mindset is rooted in delayed gratification. Us mere
mortals who spend every penny we see are never going to get rich. When you’re
collecting, though, you need to be in it for the long-run. You only build the value of
your collection over time. One coin or ornament does not a millionaire make. It’s
only when you let that collection build that you stand to see real returns from it.
Much like your finances, as it happens.

The importance of a nest egg you don’t dip into

Along the same vein, a collection serves as a nest egg, but one which you can’t
dip into. Like your savings, you risk undoing your work by taking things out here.
As mentioned above, a hobby like this only becomes valuable as your collection
starts to build. Collector’s items also tend to build value when they’ve been in
your collection for a while. That’s a value you’ll never see if you dip into this any
sooner than necessary. Your coins will never reach the price points you can find
from companies like LPM Precious Metals if you try to sell them straight away.
Your teddies will be worth next to nothing unless you give them time to build value.
And, you could say the same about your savings.


The need to work for what you want

Collecting hobbies also teach you about the importance of working for what you want.
Too often, we moan about the states of our finances without doing anything to
change them. When you collect, there’s no good moaning about the value of your
collection. Instead, you have to go out and work to find the most valuable pieces
going. Sometimes, that could mean searching years for one item. Just like you
may well need to spend years saving before you have a decent amount in the
bank. It’ll all be worth it in the end.

Mummy Money: How To Earn Cash From Parenting


Being a mum is one of the greatest jobs in the world, and most people don’t want
reimbursing. Getting to watch them grow up and have a stake in your child’s life is
plenty without having to turn it into a money-maker. Motherhood is about sacrificing
the things you used to love for the one thing which is now the most important part of
your life.

Still, there comes a time when you need to forge a new path. Your kids will always
be the end goal, but mums need something else to give their life a boost. The
majority of women want to go back to work and interact with adults, yet that may
not be possible. As a stay-at-home mother, your job is to be there to get them ready
for school and cook their dinners.

But, it doesn’t mean there aren’t opportunities to put your parenting skills to the test.
Nowadays, it’s straightforward to create a side-hustle and supplement the family’s
income. Here are five which centre on being a mum.

Blogging

There are plenty of blogs on the Web and lots of them give parenting advice. Although
the market is saturated now, the truth is this industry will never go out of fashion.
New mums are always looking for help because being a parent is scary. It’s nice to
know others are going through the same thing. Plus, it never hurts to take inspiration
from women who have been there, done it, and worn the t-shirt.

The key is to personalise the blog as much as possible. Make sure it details your
journey and your thoughts and feelings. Firstly, this ensures it’s original and provides
a unique selling point. Secondly, it makes it relatable and full of character. Post stuff
which talks about new experiences and how you’re battling through them. Also, don’t
forget to upload real images.

With a semi-decent following, the platform will attract sponsorship and that’s when
you can begin to monetise the blog. You can involve the kids, too!


Nannying

You love kids to the point you’re happy to have a room full of them in the house.
They don’t even have to be yours because there’s nothing like listening to them
laugh and take their first steps. In this case, it’s possible to start a childcare business
and charge for services. The great thing about a member of the community going
into the nannying sector is the trust factor. Mums know and trust you to take care of
their children.

Plus, it’s not too hard to spread the word. Again, you already have the contacts and
just need to tell the right people. Anybody who is scared for their home doesn’t have
to do it from their property. Stay-at-home mums can take care of their kids with a
child-friendly job. With that in mind, check out a childcare business for sale. Usually,
they come with the features and accessories a mumtrepreneur needs to make it
successful.

Always double check what certificates and permits you need beforehand.
As well as certification that you’re fit and proper to do the job, you’ll need a business
licence. Plus, consider the tax implications too.


Data

As you already know, personal data is a big deal for companies and corporations.
With information on purchasing patterns, it’s easier for them to get consumers to
splash the cash. Some mums find this invasive and don’t want any part of the deal.
Others think it’s an excellent way to ensure they get what they want for an affordable
price. Those who are in the latter camp can use surveys to make money.

The trick is to find a company that is interested in the things you have to say. There
are plenty, lots of which focus on mums and their insights. Then, participate in the
surveys and get paid by completing as many as possible. This is a fantastic earner
for mothers as they tend to have free time during the day.

Do watch out for scams as some people will try to make a quick buck. If in doubt,
research the company on Google by typing in the name and checking out the results.
Also, use forums and parenting sites to ask questions and get answers.


eBay

Although this is a little clich├ęd, it is true that mums have lots of clutter lying around
the house. And no, it isn’t because mothers are women who love to shop. It’s due to
the fact children are demanding and need new things every other day. Anyone with
a baby understands just how costly it is to replace clothes and toys and other
accessories. Rather than leaving them to collect dust in the garage or shed, you can
sell them online.

Because buying baby things is pricey, there will always be a market of thrifty mums
looking for a bargain. You don’t have to fret over the cost as any sale is a bonus. It’s
certainly better than letting them clutter up the house. To double down, mums can
also throw in things which are old and no longer needed. There is no way to tell if
anyone finds a blouse or skirt appealing until it’s listed on eBay.

Remember that photos matter a lot, as does a clear and concise description. Also,
watch out for fees, some of which may be hidden.

Cash Back

As you have to make purchases on a regular basis, you should get something in
return. Sure, it’s tempting to think this isn’t how the system works, but that’s
short-sighted. In reality, credit card companies are happy to reward their loyal
shoppers with cash back on purchases.

The key is to find a card that has the best offers and to shop with that business. At
the moment, the Citi Double Cash Card and the Capital One Quicksilver Card are
two best options. All you need to do is find the products which relate to your kids
as well as the rewards and make a purchase.

Parenting may be rewarding enough, but there’s no reason not to supplement
your income if you have the time. As you can tell from the above, it’s not tough.

Thursday, November 22, 2018

Changing Your Relationship With Money To Improve Your Life

To some extent, money causes stress for everyone. Whether you earn a decent
salary or not, however, you can get your finances in order. It’s not all about your
income. Even high earners can make decisions that leave them in a financially
unstable situation. The key to looking after your money is to simply think about
your lifestyle and the things you could change. You’re aiming to not only have a
financially stronger future but a happier future. As we’ll discuss in this article,
having a good job isn’t the only important thing in the world. Here’s how to change
your relationship with money to improve your life.




Seek new job opportunities.
Your job is your main source of income, so it’s probably the first thing on your mind
whenever somebody discusses money. However, the vast majority of people are
unhappy with their career. Maybe you simply chose your job for the salary, but you
need to find the right balance between job satisfaction and earning potential. We’re
not going to suggest you quit because that would be fiscally irresponsible, but
there’s no harm in seeking new opportunities. And if you do get offered a job that
feels like a better-suited opportunity then you can quit. Start using all of the resources
available to you. Don’t just check the newspaper. Use job sites like Indeed to get
instant updates on all of the available options in your area.


Of course, if you’re currently unemployed then your situation might be different.
You probably aren’t searching for jobs on a casual basis; your search might be a
little more frantic because you need to get your finances in order. The important
thing to remember is that you shouldn’t settle. You also shouldn’t lose your patience.
Take your time to craft the perfect applications to send out to employers. It’ll improve
your chances. And if you’ve found yourself out of work for a while as the result of an
injury or some other medical issue then you might want to look into
disability employment services to give you some assistance. Whatever your situation,
there are options available to get you back on your feet. There are perfect jobs
out there for everyone, so you can get back on the right path with regards to your
career. Change your relationship with money. Don’t just see your job as a paycheck -
it should be a rewarding part of your life.


Think about how you invest your money.
Investing is another great way to improve your financial situation. It might be worth
setting aside a portion of your monthly paycheck to put towards an account for
investments. See this as an opportunity to increase your wealth for the future. Maybe
you could take a look at the property market; whether you buy properties to sell or
to lease, there’s a lot of money to be made there. You could also look into online
investment opportunities such as Bitcoin. Just make sure you do your research
before getting stuck into a market you don’t understand. The point is that you
could massively improve your life by investing. You shouldn’t see your money
as an asset that you simply leave in your bank account to gather dust.


Of course, investments don’t always have to directly lead to a profit. Sometimes,
an investment can simply be worthwhile because it improves your life. So, if you
want to start spending your money in smarter ways then simply think about expenses
that could make you better in some way. If you work remotely then buying a laptop
might not directly bring in profits, but it could make you more productive. In turn, that
might help you to do more work for a greater number of clients and increase your
earning power. You’ve got to think outside the box. Change your perspective when it
comes to the way in which you spend money. It might change your life.




Start making some savings for the future.
You might cover your present-day costs comfortably, but what about the future?
You should change your relationship with money so that you think about more than
just your monthly bills. You need to think about tomorrow if you want to improve your
life. You should divide your savings if you really want to make a positive impact on
your future. Your short-term savings refers to the money you keep in your bank
account, but you should open a separate account for long-term savings. Put in a small
percentage of your monthly paycheck into this savings account. That way, you’ll
gradually build up wealth that will give you and your family a more secure future. If
you feel that you don’t have enough disposable income to put into your savings
account on a monthly basis then think about your spending habits. This is just
another way that changing your relationship with money can massively improve your
life.

Saturday, November 17, 2018

Tips for Taking Steps into Property

Photo by David McBee from Pexels

If you’re looking to buy and sell property to make a profit, there are going to be some
vital steps that you must follow. The property market is a good way to make some
money, but it can be both difficult to navigate and stressful to deal with. But preparation
is key; if you’re organized going into a purchase or a sale, then you can get it done
with relative comfort. Here are some tips for which will help you at different stages.

First of all, making sure you have your affairs in order will put you on the right path.
There is a lot of legal frameworks which goes into the buying and selling of a property,
and you will want to know that the people you are dealing with are right for you. For
example, employing a firm which specializes in fixed price conveyancing will take
away a lot of the stress attached to the cost and preparation of documents to meet
legal criteria. If you plan to be regularly buying and selling, informing the companies
you are working with of that plan might just help you build relationships up so that
over time your operation becomes smoother.

When getting involved in real estate for profit, you will want to make sure that you are
getting into the area that is best for you. We have talked here about buying and selling
but there are other opportunities in the property sector that might better suit your
abilities and the level of commitment you can afford. Buy to let is one example of using
your current funds to get further into the housing market while also allowing you to
create a regular income instead of a one-off hit. These are decisions that you will
have to be confident in before committing to getting involved in real estate.


Photo by energepic.com from Pexels

Finally, be prepared for the potential financial layout. One of the biggest mistakes you
can make is not to work out the cost of maintenance and refurbishing any property
you plan to buy and then sell or let. As discussed in this Forbes article, other costs
can put you into financial difficulty when buying your house so make sure to take them
into account and do an effect survey before buying. The last thing you want is to have
the keys to the property only to find that the windows need to be improved or that a
roof needs replacing.

Getting into the real estate business can be a worthwhile venture, there is plenty of
money to be made so long as you are organized going in and understand the risks that
are involved. Speak to other investors or even attend talks from property magnates to
see what advice you can pick up before commiting to your first purchase.