Protecting Your Money Even When You Are Gone

September 29, 2020 Leave a Comment

If you’ve been planning for the future, like a lot of us, then a lot of your thinking is likely to be fixated on the topic of what’s going to happen to your money assets when you’re gone. You’re going to want to make sure that your wants as to how it is used and where it goes are met. Here, we’re going to look at a few steps you can take to protect your money into the future, even when you’re gone.

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Make sure you state your wishes clearly and firmly

One of the most important steps of thinking about and planning for your future is to write your will. Your will ensures that both your loved ones and those with the legal power to execute your will and pass out your assets and wealth are as fully informed about your wishes as possible. If you have significant assets to pass on, it’s best to write a will with the help of an attorney. For instance, you can stop people from claiming more inheritance than they should by ensuring that your will provides for everyone to a reasonable degree. If you skip out people on your will, they can end up launching legal action that can muddy the waters.

 

Put it in the hands of someone you can trust

When you have a will or an estate plan, you aren’t going to be there to make sure that everything is divvied out as you want it. However, you can make sure that someone you can trust is put in charge of managing your affairs for you. Take your time to research and learn what you need to know about estate representatives. Effectively, these are the executors of your will that will gather together all of your assets and make sure that they’re kept safe until they have been completely divided amongst your beneficiaries. People often choose a close family member or friend to take care of this for them, but you may also want to hire a neutral and qualified third party.

 

Know what not to include in your will

There are a few issues that can result in your will becoming easy to contest to the point that it can be effectively thrown out. One of the factors that can lead to this risk is a misunderstanding of your assets, what goes into a will, and what doesn’t. Take the time to learn about what you shouldn’t include in your will and make sure you have other provisions for these if you need it. For instance, a lot of people put together their last wishes for funeral and memorial arrangements into wills, but this isn’t the right place for them. The same goes for any life insurance money or jointly held assets.

 

Of course, once we’re gone, we’re gone, and we can’t really do too much to affect things then. However, the steps you take now can at least give you the best possible chance of ensuring that your wants are met as closely as possible.

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How Your Backyard can Help You to Live Frugally

September 7, 2020 Leave a Comment

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Many people try to live a frugal lifestyle, but often find it hard to put their plans into practice, or are unsure how to get started in the first place. Everyone likes to grab a bargain and save money, but to live completely frugally takes a more focused approach. The great news is that saving money is all about getting back to basics, so you don’t need to look far to make your dreams of living a frugal lifestyle a reality.

 

Are you fortunate enough to have a home with some outside space? If so, are you using it to its full potential? Utilizing your yard is an excellent way to save money. Outdoor space provides you with so many opportunities to reduce your costs; here are some of the ways that you can use your outside area to enhance your frugal lifestyle:

 

Spending More Time at Home

 

The pandemic has helped many people to appreciate their time spent in their homes and caused them to realize that they don’t always need to venture out to stay entertained. Many people have found that they have inadvertently saved a lot of cash by merely staying home more during the pandemic. If your attitude towards going out and spending money has changed, you may decide to continue being at home more often. Investing just a little time and money on improving your backyard right now can save you lots of cash in the future. Once you have created an outdoor space that you love to spend time in, you can enjoy life at home even more, saving you money on going out.

 

Get Gardening

 

Gardening is an excellent hobby, even if you don’t have a naturally green thumb. Being out in your garden and taking care of your plants is beneficial to your health and well-being. Gardening is excellent exercise, and a whole lot cheaper than a gym membership!

 

To get your backyard looking beautiful, you will need the right tools and equipment to help you. Finding tools that perform well and last will save you money in the long term, and also make tasks in the garden far easier. To ensure you save money and choose the right tool for the job, it is useful to make an informed purchase by looking at reviews and carrying out research before buying, such as this ego trimmer review.

 

Grow Your Own

 

Growing your own fruit and vegetables is not only a really enjoyable hobby, but is also a really simple way to save cash on your grocery shopping. The great news is that it is also good for the environment, as your food miles will be zero, and packaging is eliminated, so you will be actively reducing your carbon footprint while saving money at the same time! Many fruit and veggies can be grown in containers and don’t take up too much space in your yard. Why not get the kids involved too? They will love helping out and watching the produce grow.

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Recuperating After Experiencing a Financial Disaster

August 25, 2020 Leave a Comment

Have you been facing financial disasters one after another? Perhaps you’ve recently had to pay for an expensive necessity such as medical bills, or maybe you’ve lost your job and are struggling to make ends meet. Whatever the situation is, recuperating from these financial issues can be incredibly challenging.

So to give you a hand, we’re going to offer some tips to help you manage your budget and get back on track as soon as possible.

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Dig into your side hustles

 

If you have any side hustles, now would be a great time to push them even harder. For instance, if you run a side business selling a product, try and get some free advertising on social media or push for some discounts to help get the ball rolling. Side hustles are essential for building a financial safety net should you lose your job. If you’re facing cash flow issues, then it’s a great idea to use your side hustles as a temporary source of income.

 

Look for debt management help

 

Don’t be afraid to seek debt management help if you’re struggling to make ends meet. DTSS is one of the number one debt management companies in the country that can help you seek debt discharge and financial freedom. Speaking to experts will enlighten you and help you find the best solution for your financial problems. We highly suggest speaking to an expert if you’re unsure how to proceed or if you’re really struggling with your finances. A lot of financial advice can be had for free as well, making it a great resource to help you learn more about your finances.

 

Start watching your incoming and outgoing money

 

If you want to be more careful with your money, it’s crucial that you start thinking about your budget. Take note of how much money you make each week or month and compare it to how much you spend. Don’t hide any expenses because it won’t give you an accurate view of how much money you can realistically spend. This will prevent you from living a life that you can’t afford.

 

Understanding your financial struggles

 

Everyone in the world will have money troubles at some point in their life. How you react to those problems and examine them will separate you from other people. For instance, are you struggling with money because you’re spending too much on certain things? Are you buying too many entertainment-related things on a weekly basis? Facing your money-related issues involves digging into your own habits to understand your financial struggles. If you’re having trouble 

 

Keeping your chin up despite the stress

 

It’s incredibly important that you try to stay positive during this time. Financial disaster can easily start to affect us mentally and will create a lot of stress. This can cause things to spiral out of control, such as being reckless with your money or relying on underhanded methods to make money. If you need help, it may be wise to consult friends, family members and experts to help you with the stress.

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5 Ideas To Earn Extra Money Online

August 3, 2020 Leave a Comment

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Most of us wouldn’t mind a bit of extra money each month, and they are plenty of ways that you can earn cash online. For a few options to get you inspired, these five are the perfect place to start.

 

1 . Litecoin Mining

 

There are several ways to make money using cryptocurrencies such as Litecoin. One example is Litecoin mining. The process involves solving an algorithmic puzzle, and once the puzzle is solved miners get a 25 coin reward. You can also make money with Litecoin trading, there are several sites where you can purchase Litecoin and sell it. There are many benefits associated with purchasing Litecoin. For instance, Litecoin generates blocks faster than Bitcoin. There is also much potential for market capitalization, as Litecoin is usually in the top rankings.

 

  1. YouTube 

 

Starting a YouTube channel is a fun way to make top dollar online. According to Influencer Marketing Hub, ‘On average, the YouTube channel can receive $18 per 1,000 ad views. This equates to $3 – $5 per 1000 video views.’

 

The highest earning YouTuber is currently Ryan Kaji, the eight year old kid who runs the channel ‘Ryan’s World.’ In 2019 Ryan made a whopping $26 million!

 

To get started on YouTube, you’ve got to put in the research and planning first. Think about which content is the most popular? What do all the high-earners have in common and what are their techniques? YouTube content has got to be educational, fun and above all creative.

 

  1. Teach Online 

 

If you’ve got some spare time at the weekends you might want to consider becoming an online teacher. Web teaching is an increasingly popular service, and you’ll have the flexibility to choose your own hours. There are many companies who hire teachers all year around. To look into this idea further check out services such as QKids, English Hunt and iTutor Group.

 

  1. Virtual Assistants 

 

A part time virtual assistant role is a fantastic way to earn extra money in your spare time. As a virtual assistant you’ll be expected to perform a variety of tasks including social media tasks, ordering processing, writing and bookkeeping. Working from home has many perks including setting your own schedule and no commute. If you’re keen to build your own business as a VA it’s simple to set up a WordPress site and promote your services using Facebook.

 

  1. IZEA

 

With the IZEA platform you can earn money by tweeting, blogging, taking videos or photos. The bigger following you have the more you can earn, so it helps to build up your following before you get started. If you’re on your way to becoming a nano-influencer, and looking to work with brands, IZEA has all that you need to get started. If you’re a blogger you can also make money blogging by purchasing affiliate links to use on your site.

 

With so many fun and creative options, you’ll be adding to your bank balance in no time!

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The Mindset About Money: Preparing For Retirement Right Now

May 21, 2020 Leave a Comment

 

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Everybody has their concerns about the future, whether it’s undergoing a lot of planning for a happy retirement or making sure that you are financially sound, there’s a lot to consider. But with this in mind, when it comes to the financial aspect of preparing for retirement, is there anything that we can do right now? Of course, we can all pay into a pension pot, but there are so many of us out there that haven’t been able to do so for various reasons. Either you’re self-employed or you have just not been able to catch a break financially. So what are the best ways to prepare for retirement if you do not have the perks that so many others have?

 

Start Investing

Whether it is an investment property or something within your financial abilities, investing is one of the best ways to start getting onto a nest egg. Investment, even something like day trading schemes, all goes towards putting money towards your future. When we get into the mindset of putting a little bit of money aside, rather than looking at what we’ve got and thinking that it’s “not enough,” this “little and often” approach is what will help us to prepare for our twilight years.

 

Altering Your Lifestyle

If you’ve not been able to catch a break in a financial sense, it’s now the opportunity to look at where you are going wrong. For so many of us, it’s our lifestyle that causes considerable problems. We either get into the habit of relying on credit cards to get out of debt or we spend above and beyond our means. It’s as much about mindset as it is about money. And when you start to tackle your lifestyle and figure out what the key issues really are, you can then begin to cut corners without it affecting you drastically. An excellent example right now is that so many people have to limit their financial capabilities. As we are struggling financially, it also makes us realize just what we really need to get by. Once you start to think about conserving certain areas of your life, whether it’s in terms of batch cooking meals or figuring out how to live cheaply, you will see the difference. But the most important thing to remember is that the money that you are normally spending on your life when you start to look at what is leftover, you need to put this money towards a pension pot or retirement funds because you are used to seeing the money go out of your account in this volume. So in this respect, rather than it going towards paying off a credit card bill, if it goes towards something productive and worthwhile, you will feel the benefits later on.

 

Your finances are inextricably linked to your well-being. If you worry about money a lot, you’ve got to start figuring out what you can do right now to take considerable debt out of your life. If you are looking towards the future and considering your best plan of action, right now is a good opportunity to pay off debt.

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10 Ways To Lower Your Water Bills

April 22, 2020 Leave a Comment

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Just been hit by an expensive water bill? While other utilities can often cost us more overall, water is an expense that can still have a tendency of sneaking up on people (especially given that many of us pay it in annual or bi-annual installments).

Fortunately, water bills are one of the easiest utility bills to reduce. It’s largely a case of reducing your water consumption in and around the home. Here are just several ways in which you may be able to spend less on water.

Fix any leaks

A leak could have a significant impact on your water bill. This could be anything from a dripping tap to a corroded pipe to a damaged seal on a washing machine.

Most leaks are easy to pinpoint – it could be a simple case of following the dripping sound or looking out for water damage. In other cases, a leak may require a bit of detective work to solve. A plumber should be able to help you find the source. Indications that there may be a leak besides unusually high water bills include unexplained damp, unexplained trickling sounds or low water pressure.

Upgrade old plumbing fixtures

You may also be able to reduce your water consumption by upgrading any old water guzzling fixtures. Old toilets, old washing machines and old showers could all be worth replacing.

Sites like Plumbers Stock sell modern toilets and showers that can help you to save water. You can meanwhile shop at appliance stores for energy-efficient washing machines. While buying new fixtures isn’t cheap, you’ll likely save money in the long run. This could be particularly the case if old fixtures are already starting to leak.

Don’t leave the tap running

Do you leave the tap running while brushing your teeth? Or do you leave it running while doing the washing up? If so, you could be wasting unnecessary water.

You only need to run a tap while rinsing your brush. As for doing the washing up, it’s much more economical to fill a bowl with water and wash all your utensils in this bowl rather than to wash each utensil under a running tap. This can be a hard habit to kick, but could save you some money.

Buy a dishwasher

On average, most people use up more water when washing dishes by hand than they do when using a dishwasher. As a result, these appliances can be worthy investments.

A decent dishwasher should be able to clean all its contents with one cycle. Some machines have economy settings, but these may not always provide a thorough clean. You can find guides at sites like Expert Reviews that list the best dishwashers on the market.

Certain utensils such as pots and pans may still benefit from being soaked in hot water to get rid of tough food debri. It’s best to leave pans to soak immediately after cooking so that food has less of a chance to harden up.

Wash full loads

In order to reduce water consumed by your washing machine, make sure that each load is full. If you’re only washing half loads, you’ll be having to use your washing machine twice as much to get through all your laundry.

Don’t worry too much about separating colors – it’s a good idea to separate whites and to be careful with new clothes (they’re more likely to run), but otherwise most colors won’t affect each other.

It is possible to overload a washing machine, but generally this involves stuffing it until nothing else will fit. Fill up the drum, but don’t try to squeeze clothes into it like a suitcase.

Shower more, bath less

You can also save water by taking less baths and more showers. The average person uses 30 gallons when filling a bathtub, while the average 10 minute shower uses up no more than 20 gallons.

If you prefer longer showers, then baths may be more economical. However, for most people showering uses up less water.

Avoid ironing

If you do a lot of ironing, you could be consuming water every time you fill it up (although admittedly not a lot in the grand scheme of things). Ironing isn’t always necessary – if you hang up clothing to dry immediately after washing, you can usually prevent most creases from setting in. Besides, ironing is a chore that most people don’t want to do anyway. So why do it?

Use your vegetable water

Most of us chuck away the excess water when boiling or steaming vegetables, however there are times when it could be reused. Vegetable water makes a great base for broth and it can even be used to cook pasta in straight after, helping to add flavor.

There’s also the option of letting it get cold and using it to water plants with – it will be full of nutrients that could benefit your shrubs.

Harvest rainwater

When it comes to watering your lawn and plants, you can save a lot of money on water by harvesting rainwater. While you shouldn’t drink rainwater without purifying it first, it can be ideal for watering plants with and will save you using your mains water supply.

You can collect water by using a rain barrel. Many of these have taps attached from which you can fit a hose or simply fill up a watering can.

Consider recycling greywater

It’s possible to re-use waste water from your taps and shower for toilet flushing. This could help to save you a lot of water and a lot of money. Fitting a greywater recycling system isn’t cheap so this is definitely a long-term investment, but one that could be well worth looking into if you plan to stay in your home for the foreseeable future.

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5 Questions to Ask About Disability Finance

April 14, 2020 Leave a Comment

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Confused about disability finance? Worried about disability lawyers? Try our mini-guide to disability finance, to help clear things up.

 

1. Am I eligible for benefits?

 

It’s straightforward to figure out if you’re eligible for any support from Social Security, and if so, which kinds. You can try the handy tool here to see how much support you could claim. You can also ring their hotlines for advice, or get impartial advice in your community, for example, at a legal clinic. A good lawyer or disability attorney can also advise you on disability benefits.

 

2. What about insurance?

 

Disability insurance is something anyone can purchase. It works like any other insurance policy you have, like dental or auto. Some employers will offer you disability insurance as part of their benefits package, but if they don’t and you want it, you can set it up privately. It’s designed to cover you if you become disabled (short-term or long-term), and can no longer work. Elite packages are available if, for example, you’re an athlete or footballer — anyone with a job depending entirely on their physical status.

 

3. What will disability insurance do for me?

 

Usually, you’ll get a percentage of your monthly income paid out to you by the insurance company. Most companies offer this monthly. You may also get rehabilitation services and possibly return-to-work incentives (which may be financial). If you’d like rehabilitation or other aspects of your disability insurance, make sure this is included in your policy before you agree to anything. If in doubt, ask an attorney to look over your policy for you before you’ve committed to it.

 

4. What kinds of disability insurance are there?

 

SSDI: This is sometimes known as disability benefits. Whether you get it or not can depend on how much you’ve paid into SSDI, how many work credits you have, and the state of your disability. 

 

State: Some states have made a certain level of employer-sponsored disability insurance, mandatory. This means your employer will have to offer you some disability insurance, but it depends where you live. 

 

Private: This is where you take out an insurance policy yourself, which you pay for. It is designed similarly to any other insurance policy. If you become unable to work, your insurer should pay out a percentage of your wages.

 

5. What about disability lawyers?

 

Most disability lawyers work on things like denied claims, especially of disability insurance claims. Disability law requires a specialized disability lawyer due to the continually changing laws around disability. A personal injury lawyer is a very different type of lawyer and will not have the right skills. Be wary of hiring the wrong type by accident. If the lawyer you’re hiring exclusively deals with disability insurance cases, they will be experts in navigating that field, and you’re sure to be in the best hands.

 

The world of disability finance is ever-changing and can be very confusing. Make sure to get all the advice you need from reputable sources before entering into any legal agreements or financial commitments. 

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What You Need To Know Before Lending Right Now

April 10, 2020 Leave a Comment

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Are you in a jam and require money quickly? Normally, in terms of making an application for any kind of financial support, a poor credit rating can be a disadvantage. However, there are now loans that will look at other areas aside from your credit history, but you need to proceed to caution.

 

Short-term loans are definitely the go-to-loans in times when you want fast access to cash, whether for a medical crisis, an unexpected bill or something different. For those who have low credit scores, it is possible that some lenders will consider you, although usually a guarantee will be wanted or the APR will be high. It is important to know this when comparing personal loans. Typically, an individual with a poor credit rating wouldn’t be suitable for most kinds of loans, because of their credit score and the specifications to meet the loan eligibility criteria. There was an extensive procedure involving paperwork and a set of data, like utility bills, credit history verification, previous loans, and plenty of other things. All these, and then in the end, only tell you what you previously know – you have a low credit history, and, therefore, you’re too much of a hazard to lend money to. 

 

However, don’t lose hope, as a payday advance is one type of loan wherein a low credit history doesn’t keep you from being accepted. The most vital criterion that any lender will be seeking is whether you’ve got an occupation and also how much income you make monthly. They are searching to verify whether you’re capable of paying the loan back. After this information is confirmed, you will be given the funds in your bank account once approved.

 

How To Find The Cheapest Lending Solution

 

If you want to take out a loan, you will want to find the best deal financially. There are many factors that must be considered when determining how cheap a loan actually is, and so we will reveal how you can find the cheapest solution.

 

So, how do you find the cheapest loans for your situation? After all, you want to make sure you are paying back as little as possible. You need to get a true reflection of what you will be repaying first and foremost. More often than not, people find a company that is willing to provide them with the money they need, and thus they accept the deal with no second thought. This is ill-advised, as you must ensure you can afford the repayments. 

 

The first thing you should look at is the APR, which is the percentage of what you have borrowed that you are going to have to pay back as well as the money you have borrowed. Aside from this, you need to determine whether there are any extra fees, such as application fees. This is something people can easily overlook, yet costs can mount up if you don’t look into potential fees. There are even some companies that charge fees for those who wish to make early repayments. 

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Managing Life on a Smaller Budget

April 9, 2020 Leave a Comment

It can be quite tough to raise a family and run a household, whilst also being economical with a tight budget. From food to utility bills, clothes and more. Costs can easily mount up and become something of a stressful situation. But alas, it does not have to be this way! This article is here t help give you some helpful tips and guidance on how to be more economical at home. 

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Repair Before you Replace

The best way to be more economical is to repair before you replace it. Not only does this reduce waste in the home, and therefore better for the planet. But it also is better for your wallet, with most things able to be repaired. From clothes to appliances. When it comes to appliances, it can be quite tough and scary if one of them starts to sound a little rough. The thought of buying a new one can also be quite scary with many of them being quite expensive. What you need to do is research, and get someone to tell you what the matter with it is. Then, once you know the problem, try and obtain and find a spare part and repair the problem! Not all problems can be repaired, but if it can, it can save a lot of hassle.

Family life can be an Expensive One

The idea of starting a family, or adding another child into the world is a beautiful one. However, unfortunately with that comes many new expenses that you need to be ready for. Something that could also happen, is maybe not expecting a baby but finding yourself pregnant. It can be a scary time. What to do if you are a new parent? What to do if you already have a family unit? Many questions can swirl in your mind. Something that is always the best choice is to do what is best. If you feel you want to go down to the path of something like an abortion clinic then that is your personal choice. Never do something someone tells you, do it because you feel its the best option. There are also a lot of materials on the web on how to prepare for a new baby, and what expenses you need to prepare for. There is also a lot of financial help available to new mothers, so also keep that in mind.

DIY (If you know how!)

Last but not least, DIY! Some people love it, and some people hate it, but something that can be agreed upon is that it is both time and money-saving to do a job yourself rather than wait for a professional. If it involves heavy work, then, of course, it is better to leave the big jobs to someone who knows exactly what they are doing. But, if you just want to paint the house, or do some basic jobs around the house, then these can be easily done by yourself. You can also source the parts cheaply from a variety of stores, and they serve a variety of price points. 

 

So, do you feel after reading these handy tips that you can become a little more economical, whether it is reducing your waste or being a better spender whilst on a budget? Well hopefully these tips have helped you realize how easy it can be to become economical, and it really isn’t that scary to try something yourself, and see the benefits!

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What Are The Most Common Causes Of Money Problems?

March 12, 2020 Leave a Comment

Money problems are one of the biggest causes of stress in our lives, and we all experience them at some point. But if you want to manage your money more effectively, it is important to know what the most common financial dangers are. These are some of the most common reasons that people experience money problems. 

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Reckless Spending 

The most obvious cause of money problems is reckless spending. If you are prone to impulse buys and a huge percentage of your paycheck goes on things that you don’t really need, you will find it hard to save money and cover all of your necessary expenses. Often, bad spending habits go unnoticed because money is wasted on small things that quickly add up, like buying lunch or expensive coffee every day. If you really want to avoid long term financial problems, you need to find ways to cut waste out of your budget. If you go through your budget and identify all of the non-essential spending, you can cut things out and you will find it easier to manage your money. 

Accidents and Injuries

Sometimes, money worries are not your fault and they happen because of unexpected life events, like accidents and injuries. If you are involved in a car accident, for example, and you are out of work for a while, it is tough to manage your money and pay all of your medical bills at the same time. You can get around this if you hire a car crash attorney and make a compensation claim. That extra money will help you to manage your living expenses and avoid borrowing and getting into debt. Having a healthy emergency fund in place is also important because this gives you a buffer to fall back on while you recover from your injury. 

Decrease in Income 

The economy is unpredictable and there is always the chance that your company may downsize and you could lose your job, or they may be forced to reduce your salary because they have hit hard times. A decrease in income is tough to manage if you continue with your normal lifestyle. In this situation, it is so important that you go back to your budget right away and rewrite it. Take a look and see if there is anything that you can cut back on for a while so you are living within your means. 

Family Issues 

Family issues are a very common cause of financial problems. A divorce, for example, is incredibly expensive and when you break up with your partner, your financial situation changes a lot. You can avoid some of these issues if you keep your own personal savings account that you can use to keep you going while you get back on your feet. 

 

Caring for elderly parents can also lead to a lot of financial issues. As your parents get older, it is important that you start putting some money aside to pay for their care and make sure that the whole family pitches in so it doesn’t all fall on you. 

 

Now that you know the most common causes of financial issues, you can be prepared to deal with them when they come up.

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Building Wealth vs. Making Money: What’s The Difference?

March 7, 2020 Leave a Comment

If you want to make sure you have plenty of money for your family to live the life you want, then you might be wondering what the difference is between building wealth and just making money. Surely if you’re making money that’s enough? Sometimes, but not always. Here, we’re going to look at what the difference is between building wealth and making money so you can make some informed decisions and have as much money for your family as possible. Take a look.

 

Swapping Time For Money

Making money usually means swapping your time for money. More often than not, this is at a 9-5 job, 5 days a week. This is a substantial amount of time. Some people may not be making much money for doing so, but they feel they have to if they are going to survive. Some may be making a decent salary, but the fact remains that they are still swapping the most valuable commodity that they have. 

 

While swapping your time for money at a 9-5 job might seem like a smart, secure way to make money, it’s almost certainly not the best way. 

 

Building Wealth

Building wealth is something you need to do over time. You won’t have a substantial amount of money by the end of the month, or even by the end of the year. You need to play the long game. However, it’s effective because it means swapping as little time as possible. You won’t get immediate rewards, but the choices you make can make a huge difference over time. In general, the more methods you use for building wealth, the better. This means you never have to rely on one source of income to support your lifestyle, and that if something goes wrong with one method you won’t really have anything to worry about. 

credit

 

Now that you know the difference, you can begin looking at various methods of building wealth. Your ultimate goal should ideally be to continue making money even while you sleep! 

 

Make Smart Investments

Building wealth is mainly about making smart investments. You could get this started now by looking into xrp purchase swyftx – however, there are many ways you can get started with this. Apps can do it for you, or you could hire somebody to help you. It can be confusing at first, but starting early means you can take advantage of compound interest. 

 

Create Products That Will Continue To Make Money 

Create products that will continue to make money even once they are out there. For example, Youtube videos, courses, webinars, and eBooks. This can be particularly lucrative if you have knowledge in a specific area that you would like to share. They take work at first, but when they are complete, you will keep on making money. 

 

Other things you should do include:

  • Paying off debts so you don’t have to pay high interest rates 
  • Avoid lifestyle inflation at all costs
  • Create a budget so you never feel the need to spend your entire paycheck 

 

How will you start building wealth?

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Ways to Act Now in Order to Save Later

February 20, 2020 Leave a Comment

If you act now, you can save money later, and who doesn’t love the idea of saving money? It’s something we don’t really think about because we tend to take a short term approach to money and finances, but that’s often the wrong way to go about things. Instead, you should think about how best to save money over the next 5, 10 or 25 years.

 

There are many ways to do it. Some involve spending a little money now in order to save later, and other ideas allow you to start spending less both now and in the future ahead of you. Find out more about these ideas below.

 

Stop Drinking Bottled Water

 

If you’re someone who is still drinking bottled water each day, you should think again about that decision. Does it really make sense for you to be drinking bottled water when you could be drinking tap water instead? Not only is this better for your bank balance but it’s better for the environment as well. If you hate the taste of your tap water, simply buy a filter and it’ll taste the same as the bottled water you spend so much money on.

 

Spend Money to Make Your Home More Energy Efficient

 

Your home is the thing you probably spend the most money on. From bills to the mortgage and general maintenance and upkeep, there’s a lot to spend your money on when you’re trying to run a home. By making it more energy efficient, you’ll reduce your bills and make it more eco-friendly. You can spend money on things like insulation and other energy efficiency measures in order to make this happen.

 

When Buying New Items, Choose Quality

 

Whenever you’re investing in new items for yourself or for your home, you should think about what they’re really offering. Are they offering quality or a fast and cheap solution to a short term problem you have? If it’s the latter, you might want to step back and think again about that purchase. You should instead look for quality even if it means spending more now. You’ll save big in the long term.

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Realize the Importance of Servicing

 

When it comes to running a car or owning appliances in your home that are costly, you should always make sure you’re getting them properly serviced. Doing so will allow you to save money later by avoiding breakdowns and other similar issues that can be very expensive to deal with. A good trusted auto repair will offer affordable servicing and it’ll help you avoid having to pay for big repairs later.

 

Lighten Your Car’s Load

 

Another good way to ensure running a car doesn’t cost you more money than it needs to us to simply lighten your car’s load. You can do this by removing things that you’ve been unnecessarily storing in your car for a long time. When a car is lighter, it’s also more fuel efficient and less of a financial drain for you. It’s one of those small things that can actually make a big difference in the long term.

 

Look for Hidden Charges in Your Recurring Bills

 

If you have bills that you pay every month or every few months, you should look for hidden charges that could be stopping you from getting a fair deal. Any charges that are hidden and that you don’t know about can be a real drain. Look to assess your regular outgoings so you can streamline them and remove any expenses you don’t really need or want to be paying. So many of us pay more than we think we’re paying.

 

Put Savings Goals in Place

 

Putting all of your saving goals together and really focusing on them can really help your general finances going forward. Put these goals in place and think about what you can do each day to ensure you reach them. That way, you’ll always have something to work towards each day. That level of focus can help you; we all need goals to be striving towards in life because it can be highly motivating. The sooner you start doing things like this, the sooner you’ll yield the benefits.

 

By taking the right steps now, you’ll put yourself in a better financial position heading into the future. Thinking ahead is something that most of us don’t do very often, but maybe we should. You’ll be in a stronger position and much more financially secure if you start acting now with the future in mind.

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How the World is Set Up For Your Financial Success

February 12, 2020 Leave a Comment

Of all the challenging aspects of adult life, there are none more challenging than the financial aspect. Indeed, it can seem like the world is intentionally set up to make it difficult to be in a healthy financial situation, right? Well, perhaps not. The idea that money is a difficult thing to get to grips with is commonly expressed, but it might not be true. Though it’s far from easy, there are a lot of systems that can help us to reach our financial goals, or at least give us a solid platform upon which to build. 

 

Below, we take a look at just a few outlets that can help you.

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Finding Work

 

It’s true that there is less job stability than there was in the past, but that doesn’t mean that there are fewer ways to make money. Actually, the reverse is true — there are more ways than ever before to get money in your bank account. You can work multiple part-time jobs if you want, or find full-time work, or have a regular job and set up a side business that generates passive income. If you’re struggling to find stable work, it’s recommended that you look at studying for one of the many jobs that are expected to grow significantly in the coming years. 

 

Legal Systems

 

Bad things happen in life, just as they’ve always done. The difference between the modern world and the past is that, if something bad happened a few hundred years ago, you’d just have to live with the problem. The responsibility would be all on you. Today, that’s not the case. If you experience a life-changing problem that isn’t your fault, then you’re able to hold the people who were responsible to account. If you suffer from a brain injury due to the negligence of someone else, you can hire a BIL, and get the money that’s rightfully yours. The legal system is often taken for granted, but it does have real benefits for people who end up in financial difficulties through no fault of their own. 

 

Where to Invest

 

Investing money used to be a money-growing scheme that was only accessible to people who already have plenty of cash in the bank. Not so these days, and that’s all thanks to the internet. Today, anyone can educate themselves by reading up about the best practices online. This, of course, doesn’t mean that anyone can get rich — the same old pitfalls still exist — but money and access is no longer the prerequisite to investing. If you’re smart and can educate yourself, you can get started relatively quickly. 

 

Help With Problems

 

Finally, it’s worth remembering that there is also more help available for people with financial problems than there was in the past. If you’ve fallen into money difficulties, then you can work with non-profit organizations to try and get yourself back on track. As well as direct help, it’s also easier to connect with people who are in the same position as you are. 

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Stop Struggling With Money: 3 Things to Try

February 5, 2020 Leave a Comment

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Do you struggle to make ends meet? Most of us feel like this at least some of the time, but if you’re constantly living hand to mouth then things need to change. Struggling with money can be really stressful, and it prevents you from living the life you want. You don’t need to win the lottery or even land your dream career, making a few simple changes can make a big difference. You’ll be happier, you’ll have a little more money in your pocket and won’t be stressing quite as much about the bills. Here’s what you need to know. 

 

Get out of debt

Being in debt is expensive, not only are you paying back what you’ve borrowed but every month you carry a balance, you’re paying interest too. If your debt is out of control, you might find that all you’re able to pay back each month is the interest, and you’re not bringing down the balance at all. Getting out of debt might involve using savings or making cutbacks in your budget, but if it’s out of control you may need to speak to a debt management company. These can speak to creditors on your behalf and work to get interest frozen and repayments reduced to a much more manageable amount. It can mean a huge weight is lifted off your shoulders and you can get your finances back under control. This allows you to start getting other areas of your money sorted again and puts you in a much better position.

 

Claim everything you’re entitled to

Did you know you may have money available to you which you’re not getting right now? If you’re on a low income, have a disability or even are entitled compensation from an accident that wasn’t your fault, it’s important to find out what you’re owed. This can compensate you for time you’ve had to have off work, or help you to make ends meet if you’re unable to work. It’s not always a smooth journey, for example you might need an attorney for disability appeal if you feel you’ve been wrongly rejected but keep at it until you get what’s rightfully yours. 

 

Earn some money from home

Making changes and cutbacks in your budget is always going to be useful, but if you can earn some extra money too then even better. This day in age, it’s perfectly possible to make cash from home, in your spare time and in a fun way. You could start and monetize a blog or YouTube channel. You could become a freelancer and monetize your skills, or you could take on a flexible job as a remote worker in the evenings. All of the money you earn could be used towards debt, to save up or just to make everything a little easier financially. You don’t even need to leave the house, and can hugely improve your situation with money.

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Don’t Panic About Your Finances?

January 27, 2020 Leave a Comment

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Finding yourself in any kind of financial difficulty can be incredibly scary. After all, whether you like it or not, money makes the world go round, and without it, you can often struggle to hold on to some of the simplest and most important things in life like the clothes on your back and the roof over your head. That being said, just because you find yourself struggling with money at some point in your life doesn’t mean that all is lost. The truth is that just about everyone deals with money troubles at some point in their lives and there are always things that can be done. With that in mind, here are a few ways to avoid falling into a pit of despair and panic if you end up having some trouble with your finances.

 

Get organized

 

If you’ve just found out that you’re in a worse financial position than you thought you were, it can be incredibly easy to start running around like a headless chicken in a total panic. However, it’s incredibly important that you avoid doing this and that you sit down and get organised. The first thing you need to do is to stake stock of your financial position and figure out a budget. That way you can know exactly what cutbacks you can make in order to start to get yourself into a more secure position without too much difficulty. 

 

Be disciplined

 

Of course, figuring out your budget and where you need to cut back is incredibly easy in theory, in reality, it’s a whole different ballgame. This is because getting your finances back in shape is often an incredibly long and difficult process. Because of this, it’s important that you stay as disciplined as possible and that you avoid falling into the common traps of becoming complacent or overconfident at any time. Keep things simple and make sure that you’re always aware of exactly how much money you’re spending at any given time. In reality, it’s the little purchases here and there that can make all the difference to your financial health.

 

Remember: there is always help out there

 

It’s easy to feel like pulling yourself out of financial quagmire is an impossible task and sometimes it really is something that you can’t do alone. However, it’s important to remember that you don’t have to do it alone. There is always help out there from debt based charities to a bankruptcy lawyer. No matter what kind of situation you’re in, there’s no shame in needing to reach out to other people for help, whether it’s a professional, or simply a friend or family member.

Financial trouble can not only have a practical impact on your life, but it can also be incredibly damaging on an emotional and psychological level. Make sure that you’re thinking about the support that you might need in that direction as well. Don’t let money difficulties lead you down a path of feeling constantly anxious or worried and remember that there are always people that you can talk to about those kinds of things.

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How To Avoid Money Worries After An Injury

January 8, 2020 Leave a Comment

A serious injury can change your life in a big way, especially if you are unable to work. It can have a big impact on your mental well being if you struggle to do things that you would normally take for granted. People often lose their sense of purpose when they are out of work as well, and that can lead to mental health issues. After a serious injury like this, it’s important that you focus on your recovery and get back to normal as soon as possible, and you take steps to manage your mental health along the way. But that is hard to do if you don’t manage your finances properly as well. 

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When you are suddenly unable to work, it can put a real strain on your finances and that causes a lot of stress. If you don’t have a clue how you’re going to pay any of your bills and you are constantly worried about money, that will make your recovery a lot more difficult and increase the likelihood of developing a mental health problem. 

 

If you are out of work for a long time, you may end up relying on credit cards to pay your bills and that will lead to a lot of unnecessary stress. But if you follow these simple tips, you can easily avoid that situation.   

 

Make A Compensation Claim 

 

If you think that somebody else was to blame for your injury, especially if you were injured at work, you should consider making a compensation claim. If you get in touch with somebody like alex hernandez lawyer and speak with them about your situation, they will be able to help you make your claim. It’s important that you do this right away because the more evidence you can gather, the more likely you will be to win a settlement. The process can take a long time, so the sooner you get started, the sooner you will benefit from the money. Having that extra financial help there will make life a lot easier for you while you recover from your injury and get back to normal. 

 

Keep Working If Possible 

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In some cases, your injury will be too severe for you to work at all and you will have to take time off until you are fully recovered. However, you may still be able to work in some capacity and that will make it easier to manage your finances. For example, you might not be able to do any heavy lifting but that doesn’t mean you can’t do admin work. You should speak with your employer and see whether you can continue working in some capacity. It’s easier than ever for people to work remotely, so you may be able to work from home instead of going into the office. 

 

If there is no way that you can continue working at your current job, you should look into your other options for working. There are a lot of freelance jobs that you can do from home like being a virtual assistant, for example. If you can find ways to earn a bit of extra income from home, you will find it a lot easier to manage your money while you recover. 

 

Cut Back Your Budget 

 

If you are not earning or you are only earning a fraction of what you normally would, you need to rethink your budget. If you continue spending at the same rate as normal, you will soon find yourself in financial difficulty. You need to cut back on your budget and get rid of some of the luxuries that you can’t afford right now. Draw up a list of all of your spending and look for things that you can easily cut out. The more you can cut down on your budget, the longer you will be able to survive without borrowing money. 

 

Speak With A Financial Advisor 

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If you do manage to win a settlement, it’s a good idea to speak with a financial advisor because they will help you to get the most out of it. If you just put it in the bank and start spending it, you’ll be surprised how quickly it disappears. If your injury is going to have a long term impact, you need to start thinking ahead with your money. A financial adviser will be able to assess your finances with you and give you some good advice on how best to spend the money that you do have. They will be able to help you with investments if you have a lump sum so you can secure your finances in the long term. 

 

Borrow Sensibly 

 

It’s easy to fall into the trap of borrowing money when you are out of work, but you need to be very careful. If you start relying on credit cards too much, your financial situation will get worse and worse. However, there will be some situations where you need to borrow a little bit of money to make ends meet. That’s fine, as long as you do it sensibly and you don’t make a habit of it. You should only be borrowing money to pay urgent bills, not to spend on luxuries. When you do use a credit card, make sure to shop around and get the best deals, and avoid high interest payday loans at all costs. If you do find yourself in a situation where you need to borrow money, you need to work out how you are going to pay it back. If you won’t be able to comfortably pay back the debt, you should think twice about borrowing. 

 

Once you have recovered from your injury and you are back at work, paying off your debts should be your first priority. The best way to do that is by using the debt snowball method. By prioritizing the smallest debt and clearing it as soon as possible, you free up more money to put towards the next debt on the list, and so on. The sooner you can clear all of your debts and get back to normal, the better. 

 

As long as you follow these simple rules, you can stay on top of your finances and focus all of your attention on making a recovery.

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Growing Your Property Portfolio in the Best Possible Way

December 20, 2019 Leave a Comment

Property is one of the safest markets to invest in if you have the money to do so. This is why so many people every year are looking at the ways in which they can invest in property or real estate, and start making serious money. But, if you are new to this process, it can seem pretty daunting, especially with the sums of money that are being talked about. 

 

Make sure you think about the different ideas you’ll need to consider if you want to get involved in the world of real estate. Growing your property portfolio is one of the key things you are going to need to consider, and this is something you can work on right now. These are some of the best things you can do to achieve that, and you should use these ideas to help grow your portfolio. 

 

Diversify

 

One of the key things we would recommend would be to make sure you aim to diversify as much as possible with your portfolio. There are a lot of things that play a part in the process, and this is going to help you when it comes to making the most of your property portfolio. This means looking to invest in things like mobile homes as well as traditional apartments and houses. This is a great way of attracting more people and giving you a more unique edge to your portfolio. 

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Rent Out for a While

 

When you are getting involved in the world of property investment, you will generally have two choices; you buy a property, fix it up, and sell for a profit, or you buy and then rent for a while before selling. Renting is a good way to build up your portfolio because it is providing you with passive income on a monthly basis, and this is important. Make sure you do what you can to make the most of this and try to rent out several properties at the same time, so you increase your cash flow. 

 

Maintenance & Upgrades are Key

 

Maintaining and upgrading your properties is also really important when looking at how you can grow your portfolio. Just because you own a property doesn’t mean you can overlook basic improvements. Saving money on home improvements is important, but you definitely need to make sure you maintain and upgrade the properties as much as you can. This can make a massive difference to making your portfolio more appealing to prospective buyers and tenants. 

 

Cash Flow!

 

Cash flow is one of the most important things to consider here because, without money, you can’t purchase property. As we suggested earlier, renting is a good way of bringing in some cash flow, but you need to consider other ideas as well, such as buying positive cash flow property and coming up with side-gigs to help you supplement your income. 

 

As you might imagine, creating a strong and diverse property portfolio is a challenge, and this is something you need to make sure you consider as much as possible. There are a lot of factors that play a part in helping you achieve success in the property market, and these are some ideas that will help you to get started as much as possible.

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Money Matters: How To Make 2020 The Year Of Reduced Waste

December 17, 2019 Leave a Comment

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The start of a new decade is the perfect opportunity to reevaluate your lifestyle and adopt the changes needed to become a better person. Right now, the need to reduce our physical waste in a bid to save the planet is more prominent than ever. But what about saving your finances?

 

Living costs rise at a far faster rate than salaries. This is why your New Year’s Resolution should revolve on the concept of making your money work harder. Here are 15 ways to turn your 2020 vision into a reality.

 

#1. Quit Bad Habits

 

Let’s face it; quitting bad habits will always appear on the NYR lists. While you’ve previously given up within a few weeks, focusing on the financial elements could transform things for the better. Quitting cigarettes will save the average 20-a-day $50 per week. You could save half of the money while using the other half as a weekly reward for staying on track. It’s great news for the body, mind, and bank balance. This new approach will ensure that 2020 is the year you succeed.

 

#2. Analyze All Purchases

 

There’s nothing wrong with impulse buys that will actively enhance your life. However, wasting money on products that you will not use is a huge problem. It’s easy to be won over by fancy marketing gimmicks, but buying the latest tech gadget for the sake of joining the herd is often a bad move. Where possible, sleep on the decision. If you aren’t that fussed about having not bought the item when you wake up, it probably isn’t needed. You should see a decline in regrettable choices.

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#3. Lose The Need For Ownership

 

In addition to avoiding unnecessary purchases, 2020 can be the year where you embrace a healthier mindset. While society may suggest that you need to own everything, you don’t. There are many situations in which leasing a car may be better than buying one. Meanwhile, renting an outfit for an vent is often a smarter decision than wearing it once and letting it sit in the wardrobe collecting dust. The money saved by hiring goods can allow you to spend more money elsewhere.

 

#4. Trim The Fat On Bills

 

Overspending on monthly services is another very common problem. Here is a guide to cutting cellphone costs that can save hundreds of dollars each year. Similarly, energy bills, home insurance, and broadband packages can be trimmed down. Tailoring the package to your needs rather than what the company tries to sell you can make a big difference to monthly outgoings. Better still, you won’t see any difference to your daily life as the features you cut out aren’t being used anyway.

 

#5. Shop Around

 

We can all appreciate the benefits of browsing the market for a better deal. The introduction of price comparison sites made a huge impact on major purchases. However, you can now add tools to your browser that automatically search for vouchers and discounts on all purchases. Even if you save a few dollars during each online shopping session, the savings soon add up. They can be used to buy clothes, groceries, and gifts for loved ones during the festive season. The possibilities are endless.

 

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#6. Consider ‘Non-New’ Items

 

It seems madness to spend twice the price on an item that you could get cheaper simply because it has been used. There are plenty of items that you’ll want to buy brand new. Still, charity shops can be a great place to pick up furniture, clothing accessories, books, and more. Perhaps more tellingly, you can save thousands on kitchen remodels and big tasks by buying the ex-display models or end of the line stock. Not having the latest season’s trend isn’t a big issue unless you make it one.

 

#7. Change Work Habits

 

Your career is the primary source of revenue in your life. However, it can be a source of huge expense too. There are many ways to cut the costs. Working from home, even or one day per week can have a truly positive influence. Meanwhile, trading the morning trip to Starbuck for a homemade coffee could save over $1,000 per year. Those simple changes can actively aid your physical and mental health, as well as your career. Still, it’s the financial savings that stand out.

 

#8. Stop Trashing Perfectly Good Products

 

Most people are guilty of hoarding furniture, electronics, and collectibles. In most cases, they’ll eventually be thrown out during a clean spring. However, one person’s trash is another’s treasure. Thanks to local online selling platforms, the opportunity to generate money from old goods has never been easier. This additionally serves as the perfect way to declutter your life at the start of a new decade. The fact it actually reduces waste pollution by recycling old items is merely a bonus.

 

#9. Ensure That Assets Sell At Their Full Potential

 

When selling the small household goods, any cash injection is a step in the right direction. However, valuable assets need to sell at the right price. Preparing the home for a quick and agreeable sale is vital for anyone hoping to relocate in 2020 or beyond. Meanwhile, expensive antiques should be independently valued. After all, you do not want to become one of those people that sells a vase for $50 at a garage sale only to see it sell for $1,000 in three months time.

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#10. Hire An Accountant

 

The idea of paying an expert to handle your taxes and other financial obligations may seem counterproductive. On the contrary, though, a personal tax accountant can save you money in the long run. Whether it’s handling small business accounts or individual taxes, their advanced knowledge will serve you well. Besides, time is money, and you can use the extra time to earn more money. When added to the emotional reassurance of making the right moves, success is assured.

 

#11. Seek Entitlements

 

You work hard, and put money into the system. As such, you should feel no guilt about seeking the financial support that you are entitled to. Whether you’re a parent, a worker in the public sector, or have a disability doesn’t matter. Even an extra few hundred dollars per year, through credits or discounts, can seriously enhance your life. Life can get tough from time to time, but helping hands are often available. Take the support that is actually designed for you, and big results will show.

 

#12. Improve The Home’s Energy Efficiency

 

If you can reduce financial waste while also reducing waste pollution, that’s perfect. This guide to creating a greener home will allow you to master both. The investments into better lighting and water efficiency will reduce monthly bills. Meanwhile, solar panels and other eco-friendly upgrades often show a positive ROI. The financial value of your property and monthly cash flow will each see positive outcomes. Best of all, the rewards will continue throughout 2020 and beyond.

 

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#13. Share Facilities

 

The idea of combining financial savings with reduced energy waste needn’t be limited to the home. Carpools are a particularly smart move to save money and resources. Meanwhile, if you have a good relationship with the neighbors, it may be possible to share items like the lawnmower. It seems a little pointless to buy and store products separately if you can half the costs and efforts. Of course, it’s not an option that’s open to all homeowners or workers. Still, it’s worth investigating.

 

#14. Move Bank Accounts

 

If you are currently losing money to interest rates on credit cards, switching to new banks can work wonders. They are fighting for your custom and will often offer 0% on transfers as well as a few months of zero interest. This gives you a chance to reduce the debt without suffering from high interest rates. In turn, this can support your bid to create a better financial situation. After all, your overall debts will shrink during that period of breathing space.

 

#15. Repair Things

 

How often do you trash a top because the zip broke, or replace furniture because it suffered minor damage? Get into the habit of repairing and upcycling items, and you’ll save vast sums of money over the course of a year. You can turn crates into garden furniture, save old garments, and breathe new life into unloved items. It’s a great way to save time and money while also providing a sense of satisfaction. When dealing with clothes, it’s an ideal way to gain a fresh and unique appearance too.

 

The Final Word

 

We can all benefit from reducing our financial waste, and 2020 is the year to make it happen. While it’s true that the first few weeks may seem difficult, your efforts will soon be rewarded. Once you see how much of an impact your efforts can bring, the incentive to stay on track will be huge.

 

Last but not least, you must remember that a setback along the way needn’t stop you from achieving the end goals. This is a lifelong transformation rather than a quick fix. Do not forget it.

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Smart Ways To Teach Children About Money

November 14, 2019 Leave a Comment

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Being able to make good financial decisions doesn’t just happen. We have to teach our children the value of money and do so in ways appropriate to their ages. It’s never too early to get these lessons started, especially nowadays. Since marketers have begun aiming ads at children with every media channel, they must understand that certain purchases aren’t worth the investment. If you don’t teach your children how to manage money, someone else surely will. But that isn’t a risk you want to take. With that in mind, here are ten smart ways to teach children about money. 

 

Play Classic Board Games

Many classic board games are more educational than most people realize. Rather than just teaching board game etiquette, Monopoly introduces children to important life skills, like saving for retirement and purchasing real estate. Playing these games as a family gives you a chance to explain to your children how the rules of the game apply in real life. Other childhood games, like house and grocery store, also teach kids about finances, along with cooking and cleaning. 

 

Write Letters To Santa

Once the weather turns frosty, children get excited for Christmas. They want to decorate the house, make gingerbread houses, and, most importantly, write letters to Santa. Although this is a fun annual activity, it could be an educational experience too. Rather than letting your children ask for whatever they want, give them a spending limit. Having a spending limit makes your kids consider what gifts are really important to them. This is a great opportunity to practice math too. 

 

Make Them Earn Money

Although Christmas is a time for giving, that rule doesn’t apply for the rest of the year. Instead of handing over money whenever your children ask for it, you should make them earn it. Depending on their ages, there are a few ways to do this. Teenagers can take on summer jobs, while younger children carry out chores at home. Entrepreneurship is another option to consider. Even a lemonade stand throughout the summer is a business, so teaches many important lessons. 

 

Chat With Financial Experts

A financial adviser is an important resource, both for adults and children. Taking your kids with you the next time you speak to money experts gives them a chance to ask questions. If you have a living trust set up for your children, allow them to meet your living trust attorney too. At this meeting, you can explain what a living trust is and under what circumstances your child would be given money from it. Having these meetings now will make financial experts seem less scary. 

 

Open A Savings Account

After meeting with your financial adviser, you might decide to open a savings account for your child. When you do so, make sure that you take them to the meeting. Explain exactly what a savings account is, how interest works, and how to access that money. If your child has earned their own money, ask if they would like to invest that into their savings. Once your child is old enough, you can open a checking account. This would give them greater control of their money. 

 

Shop For Groceries Together

Certain chores take much longer with children in tow. Shopping for groceries certainly makes that list. However, that doesn’t mean that you should leave your little ones at home. After all, shopping is an important chore and life skill. Unless your children know how to shop smartly, they’ll waste money when they’re older. Before heading to the store, write a grocery list, make a budget, and gather coupons. Each of these tasks is important and helps with money management.

 

Download Money-Related Videos

Most parents are always trying and failing at limiting their child’s screen time. While you shouldn’t give up this battle entirely, you could be flexible. The internet doesn’t just waste time and can instead be incredibly educational. YouTube is a great example. Although there are many pointless videos on the platform, you can find a few that teach children about money. These are fun, interactive, and fairly short, which means your child could easily see one during a car ride. 

 

Choose Different Bedtime Stories

Just like videos, books can be both fun and informational. When choosing your child’s bedtime story, pick a book that talks about money. There are hundreds out there that focus on different financial topics, including entrepreneurship, investing, and money trouble. If you don’t own any books about money, then head to your local library. Without having to spend a penny, you can take home a variety of books. Alternatively, you can download and listen to audiobooks. 

 

Set A Good Example

Children learn by what they see. This means that, if they see you managing money well, they will understand that they must do the same. Unfortunately, the opposite is also true. Overspending, lying about money, and other bad financial habits can make your kids question your teachings. That is why you must set a good example for them. Make sure you also explain what you’re doing when using an ATM or writing a check to help your children learn basic money concepts. 

 

Leave Room For Mistakes

Part of allowing your kids control of their money is letting them make mistakes. While you can explain to someone the consequences of bad money management, they’ll never truly understand them until faced with them. While it’s tempting to step in and steer children away from costly errors, doing so could hold them back. A mistake might seem disastrous to them now, but the lessons they learn from it would benefit them later and keep them from making a bigger blunder. 

 

Money is a topic many children think very little about. With parents buying everything they need, kids usually assume that money comes easily. Teaching your children the value of money will not only benefit them in the future but help you now. Once a child knows that things cost, they usually become less demanding. Hopefully, the tips above help you teach your kids about money.

Filed Under: Budget Tagged With: , , ,

4 Ways To Boost Your Savings With Change

October 21, 2019 Leave a Comment

When you’re trying to save money, drawing up a good budget is the best thing that you can do. But making small savings here and there is also a good way to boost your savings account. A lot of people don’t bother saving small change because they don’t think that it’s worth it, but that isn’t true. If you do it right, you can actually earn a lot of money by saving your small change, and it’s a great way to add to your savings without having to make any changes to your overall budget. There are a few simple tricks that will help you get the most out of your change. These are some of the best ways to save more change. 

Image From Pixabay CCO License

 

Save Bigger Change 

 

When people save change, they usually just put their small change in a jar, but you should consider saving bigger change. The best way to save a lot of change is to empty your pockets whenever you come back home. If you start putting in dollars instead of pennies, your change jar will build up a lot quicker. All of that change you have in your pocket is likely to get wasted anyway, so you may as well save it. 

 

Get More Change Jars 

 

When you find loose change lying around the house, it’s easy to shove it in your pocket but you’ll end up spending it later on. But if you have change jars dotted around the house, you’ll be more likely to save all of that change. It’s a good idea to put on in each room to encourage you to save more regularly. 

 

Small Investments

 

Now that you’ve boosted your change, you need to start doing something with it so you can turn it into a more substantial amount. When people think about investing their money, they usually assume that you need a huge amount of money, but that isn’t the case. You can get started with small amounts, so if you save your change for a year and invest that money, you can watch it grow. 

 

If you want to make a bigger return on your money, you could even put the money into casino sites. If you look for deals at deluxcasinobonus.com, you can get free games when you put money in. Ordinarily, it’s not the best way to spend your savings, but if you have extra money from saving change, it could be a good way to earn more. 

 

Change Apps 

 

It’s not just physical change that you should think about either, you should try to save change when you are spending on a card as well. A lot of people find that they don’t have much change because they hardly ever use cash. But if you use prepaid cards like Revolut or round-up apps like Acorn, each purchase that you make will be rounded up to the nearest dollar, and the spare change will be saved. Check out Forbes.com for a good list of the best round-up apps. Some of these apps even put the money into investments automatically.   

 

These are all great ways that you can turn a bit of spare change into some real savings for the future.

Filed Under: Budget Tagged With: , ,

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