56 articles Articles posted in Adulting

Buying a House? Here Are Four Experts You Should Consult

Buying a House? Here Are Four Experts You Should ConsultImage credit

 Buying a house is one of the most significant financial decisions you will make in your lifetime. With a lot at stake, such a decision should not be made lightly or in haste. The best way to ensure that you get the house of your dreams is to bring aboard experts who will guide you and take you through the process. This blog post outlines the four experts whose services you will need the most when purchasing a house.

Financial Analyst (Credit Expert)

A good credit score has numerous advantages for home buyers; the most important being that It will significantly help you get a better interest rate and a lower down payment on your property loan.

Although you may be able to generate and keep track of your credit score on your own, seeking the services of a financial analyst is a smart move, especially when purchasing a house.  A financial analyst will generate your credit and advise on how you may improve your credit rating in the right way based on the current score. For example, they may suggest paying some of your debts or reestablishing credit to bump up your credit score as you prepare to purchase a house.

Real Estate Agent

A real estate agent who knows the local market well will help you navigate the complex process of finding the perfect house.  They will be instrumental in helping you browse through the listings available for purchase, arrange for house viewings, help you negotiate the best deal for the house of choice, and guide you through the process of closing in on the mortgage. Hiring your agent as a buyer ensures your interests are taken care of throughout the entire process. 

 Mortgage Broker

Unless you are purchasing your house with cash, you will need to take a mortgage for your home. A mortgage adviser will help you determine if you are prequalified for a mortgage. The mortgage broker will inquire about your earnings, savings, and other personal finance-related questions before they decide whether or not you qualify for a loan and advise you on the nature of loans available for you. Additionally, the mortgage advisor will advise you on where you will get the best interest rates, guide you on all the documents you need to get the mortgage approved, and answer any of your house purchasing queries.

Home Inspector

When buying a house, the services of a home inspector will help you make a decision whether to buy the house or not. An inspector will carry out an unbiased, detailed check of the house on your behalf and come up with a list of anything that will need to be repaired or replaced. They will assess the house’s structural components and check the walls, floors, roofing, and windows. They will also determine if the plumbing, AC, and electrical systems are in perfect working condition or if they need repairs

The home inspector works directly with you, so do not be afraid to request that you be present when they inspect the house.

The inspector’s  report will help you determine if you will ask the seller to carry out repairs or if you will decrease your offer amount as you proceed with the purchase.

Conclusion

The process of home ownership can be a long and complicated one. Many parties will come aboard during different times in the purchase process, and knowing what each one does will help you make the purchase easier. Although this is not a definitive list, the above four experts play the most significant roles in a house purchase, and knowing what they do and having them aboard will streamline the purchase process.

Great Reasons Why You Should Live At Home As A College Student


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Living away from home and at your university can be exciting and add to your experiences. However, staying at home can be just as fun- and beneficial! Statistics show that UK universities had 1.9 million students living in both provider-maintained accommodations and private halls last academic year. This means rent prices are going up (as demand increases) amongst other accommodation issues. Yes, staying at home does sound cool, but there are so many perks you’d be gaining! Here are a few.

Save more money

As a college student, living on a budget is essential. Imagine how easier your time in school would be when you don’t have to worry about rent, paying for maintenance fees, or even food? Well, that’s what staying at home does for you. It is considerably cheaper and budget-friendly staying at home. You can save more money and avoid failing in debt like many college students.

Improve and keep healthy friendships

It’s a common misconception that college students who stay at home don’t make any friends. Even though you may stay at home, you can still meet and befriend many new people. It also helps you keep the friendship fresh and healthy as you can avoid more “bad” friends and limit your exposure to peer pressure. Additionally, it also encourages healthy space between you and them as you are not easily accessible- unless you want to be. 

So, don’t hesitate to take the time to make new friendships and build your existing ones; staying at home shouldn’t make a difference. 

Avoid flatmate troubles

If you’re staying out of the house, you are most likely going to get a flatmate. A flatmate or roommate is an excellent idea as they can help share the expenses and take away the loneliness you may feel if you were alone. But it’s usually not so rosy. Some studies show that the constant issues with roommates affect the academic success of students. Although this gives you an opportunity to learn to handle conflict and cope in stressful situations, they are often avoidable.

Stay close to family

Although the university is a time to explore on your own, you miss being around family occasionally. Having family close by makes you feel safe. Staying at home may be an excellent choice if you have a tough time with social anxiety or are uncomfortable constantly being around new people. It is also a good idea to stay at home if you deal with illness and need assistance from someone you trust. 

There are so many advantages to staying at home. However, it may not always be possible to do so- like if there’s a significant distance between your home and school. Fortunately, university accommodation options such as the University of Suffolk student accommodation offer students an accommodation experience that feels just like home! But if you do school closer to home, these four reasons should convince you to live at home.

How Does A Poor Credit Score Affect Your Day to Day Life?

Everyone should know the importance of sound money management and the detrimental effects of having poor credit. Sadly around 18 million brits are currently thought to be actively harming their credit score and risking their financial future.

How Does A Poor Credit Score Affect Your Day to Day Life?

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Recently the economic downturn due to the Covid pandemic has seen the increased strain on people’s incomes and has resulted in more people missing payments or falling behind with their prices on credit accounts due to reduced revenues or increased bills eating into the money they have.

What Is A Poor Credit Score?

There are two main credit agencies in the UK and a list of variables that make up whether or not al ender accepts your credit application. On Experian, anything under 800 is classed as poor, and 720 and under is very poor. Equifax rates poor credit scores as those with a score of 420 or below with very poor from 0-279.

How Does Poor Credit Affect Your Day to Day Life?

Whether you realise it or not, having a poor credit score can affect more than a simple yes or no for applications you make. The effects can be wide-reaching and have an impact on many different things in your life. However, having poor credit now doesn’t mean this is it for you. You can always change your score and work to improve it by keeping on top of payments. You can follow money bloggers, listen to a credit risk podcast or join forums to get inspiration from others on how to improve your credit score.

This post looks at some of the ways a poor credit score can impact your life.

Renting Accommodation

If you have a good credit score, you can have your pick of homes to rent. Because many landlords and letting agencies conduct credit checks before allowing you to move in, having a poor credit history could jeopardise your plans to relocate.

The prevelance of ‘comprehensive’ credit checks from companies such as Experian has made it possible for landlords to check your financial history before you move in. Over six years, they look for any financial mistakes, such as a CCJ or defaults, that may have occurred in your life.

This isn’t just restricted to those applying for a mortgage now. Everyone is aware of how a poor credit history and bad financial mistakes can stop you from getting reasonable mortgage rates or even a mortgage at all. But a poor credit score also affects your renting ability too.

Buying A New Car

Buying a new car isn’t cheap. Many people consider financing their new vehicle with a personal loan to spread the cost over a more extended period. Personal loans are typically subject to a credit check. The same is true if you choose to go the traditional route and secure a PCP or hire purchase deal through a car dealership, in which case your credit would also be checked.

For the most part, if you’re entering a financial agreement with a company – whether it’s to finance a new car, a new sofa, or anything in between – you’ll almost certainly be asked to provide information about your credit history.

Applying for Jobs

If you apply for a job in specific industries – for example, if you’re involved in financial transactions or cash handling – the employer may run a credit check on you before extending you the offer. This is solely due to the nature of the employment you’re seeking, and it is not a common practice in the recruitment industry as a whole.

Careers that require good credit include;

  • Accounting
  • Police
  • Army
  • Legal

Higher Interest Rates

The better your credit score, the lower your interest rates will be. Lower rates and a good credit score means you are more likely to pay back what you owe on time as per your contract. A lower credit score is reflective of missing payments and bad financial decisions. So frequently, lenders will offer a higher interest rate to mitigate the risk of lending. Meaning, you are paying more money back as a buffer in case you default.

Insurance Premiums

Do you have household or car insurance? Or how about life insurance? All the insurance premiums you are offered will be based in part on your credit score. Much like with loans, the more chequered your history, the higher your payments will be. If you are paying a lump sum upfront, you can usually eradicate this. However, if you make monthly instalments, you are being credited the insurance premium you are paying back, thus accounting for the higher interest rates or increased premiums.

Household Bills

Whatever your mobile phone tariff or utility bills, if you’re looking to set up a Direct Debit to pay your bills, it’s likely that your credit report will be scrutinised as part of the process.

When it comes to paying your bills, you’ll most likely have no issues whatsoever. If, on the other hand, you have a poor credit history – for example, if you’ve defaulted on a loan in the past – your utility company may require you to have prepayment meters to avoid running up bills meaning you end up paying more than direct debits.

New Relationships

While this might not be a make or break topic for new relationships, it can impact budding relationships, especially if you haven’t gotten your financial situation under control. People want to know what type of person you are embarking on a relationship with and your credit history and money habits play a big part in this. If you have experienced financial difficulties you have recovered from, you may find this isn’t an issue. But if you are exhibiting poor financial choices and errant behaviour as far as your credit is concerned, this can be a warning flag in a new relationship.

On the face of it, a poor credit score can simply look like being refused credit. However, suppose you fail to make amends and improve your credit score. In that case, you may find that you are experiencing the effects of this in other areas of your life, such as getting preferable energy rates or being able to advance your career or maybe even pursuing a new relationship.

How To Balance Business and Parenthood

Working parents understand how difficult it is to juggle a career with child care. Parents who own their own businesses, on the other hand, face an additional layer of difficulty. To an extent, business-owning parents are trying to juggle two kinds of infants: the children they are trying to raise and the business they are trying to build. To be successful, both require nurturing and attention, especially in their early phases, and business-owning parents must learn to meticulously plan and prioritise their time to make sure that each receives the care they necessitate and expect.

Here we look at some tips to help you to balance parenthood and business.

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Delegate, outsource and learn to say no

As a business-owning parent, balancing your venture and family time can be tricky, as both require a significant lot of time and resources. The sooner you realise you can’t be in two places at the same time, the better. Prioritize the moments with your children that require your full attention, and make sure you have someone to stand in for you during those times. Outsourcing is a popular strategy for many small business owners, for example, paying a digital marketing agency to handle your online marketing or an SEO specialist to get your ranking up. This frees up valuable time for you to spend with your family.

Prioritize your health and wellbeing

Use mindfulness or relaxation techniques. Set your well-being as a top priority. When life becomes an unending demand on your time, the first thing to go is your self-care. However, with 40% of firms not having a succession plan in place, taking care of yourself is critical to the future of your business – as well as ensuring you are the best parent that you can be.

Create clear boundaries between home and work – and stick to them

Establish firm time limits. Define when you are and are not available, and stick to those boundaries. This is a good lesson for your kids to learn. When you are not available, you are not available – unless it is an emergency, of course. However, when it is time to be with your family, you leave work behind and be entirely present with them. Create home/work boundaries and stick to them.

Don’t expect perfect balance every day

If we believe that we can remain balanced every day, it is easy to fall into the trap of believing we are pushing extra hard or disregarding our business. Reassure yourself that your children benefit from seeing you work hard at times and that spending quality time with your children benefits your governance

Be in charge of your own calendar

One of the benefits of being your own boss is that you can control your own calendar and be in charge of your schedule. Arrange meetings with clients when the children are at school, switch off completely when they come home from school, and do your admin work when they are in bed, for example. Find a routine that works for you and your family.

The Day I Became a PROPER Adult

The Day I Became a PROPER AdultThe other day, I rang my Mum and said the following words:

“Mum. It’s official. I am a PROPER adult.”

One could argue that having two kids, a Husband, a job and various pets were a fairly good sign that I’ve been an adult for a while, or the fact that I’ve spent many a leisurely hour randomly browsing Rightmove or researching leak free shower cabins,  but the event that propelled me into proper adulthood was dealing with my very first flying ant bloom.

When I was a kid, I remember “flying ant day” happening once a year at my grandparents house. Every year, sometime at the end of July, a massive swarm of ants and flying ants would emerge from behind their gas fire in their 1960’s terraced council house and all hell would break loose. Nan would be vaccuming them up and throwing ant powder down with a speed to rival someone from Krypton, while Grandad would be swatting any escapees with a slipper in a manner that made me wonder why he wasn’t competing at Wimbledon. It was as horrifying as it was hilarious, seeing my ageing grandparents dealing with the infestation and it’s something I’d never had to deal with myself…until now.

According to The National History Museum ” This annual swarming event usually occurs in July or August and coincides with a period of hot and humid weather. Winged ants appear at different times around the country and local weather conditions are critical for the coordination of swarming activity. Ants tend to fly earlier in urban areas than rural areas, probably because temperatures are generally warmer in urban environments, known as the urban heat island effect.”

There are a number of options for dealing with flying ant blooms which don’t involve using noxious chemicals which can be dangerous to pets and other wildlife. Here are a few of them:

Pour boiling water into the ant hill

Once you have located the ant hill, pour boiling water over it. This should kill most of the ants and detract other ones from coming back.

Attack ants with an artificial sweetener

Certain types of sweeteners are very toxic for ants. For example, if you mix in the sweetener with apple juice, it forms a viscous paste that the ants will carry back to the colony. Once consumed there, it will kill off a portion of their population.

Spray with dishwashing soap

One household item can tackle flying ants and that is dishwashing soap. The soap attaches to the bodies of the ants and dehydrates them. You can use a spray bottle and fill it with water and two to three squirts of dish soap, and then spray it at any flying ants you see.

Use sticky tape to catch them

If you place some food on the ground to attract the flying pests, you can place some sticky tape down with the sticky side up. Put the tape as close as possible to the food, and the ants will land on it. This will then trap the ants in place and stop them from flying anywhere else.

Obviously, if the ants are outside and aren’t bothering you, you can just leave them in peace, as I would much rather have done, but having ants crawling up my legs while I’m trying to work is just too much to bear!

Do you have any tips for dealing with becoming an adult or dealing flying ants?

Five DIY Tips for People With Zero DIY Skills!

Despite the fact that we live in rented accomodation, Husband and I like to do as much as we can to make our house feel like a home, and we’re both pretty happy to get stuck in when it comes to DIY. As well as doing our best to keep the house and garden looking nice, our landlady also sometimes looks to us for basic maintenance to the property and it’s generally something we’re happy to do.

There are, however, a few things which are a little beyond our skillset, so with this in mind I thought I’d share some tips on how to improve your home when you don’t want to (or can’t!) do major works:

Stick-On Tiles

Stick and Go TilesTiling is something that takes a fair amount of skill, a whole lot of time and a number of different materials and tools. It’s not an easy job and it’s something that can easily look rubbish if you get it wrong as there’s not a huge margin for error. However, there is such a thing as Stick and Go Wall Tiles, which can be stuck directly over any size tile, or straight onto the wall and require zero cementing or grouting! Perfect for a DIY project!

Vinyl Wrapping

DIY Vinyl WrappingIf you don’t want to replace your whole kitchen, or simply don’t have the budget to upgrade, using vinyl to “wrap” your units can give you a fresh look with little outlay. It’s not the easiest thing to do and does take patience, but the effects can be absolutely brilliant and can massively modernise the look of your space. It’s also WAY less distruptive and less messy than ripping out units to replace with new, and it’s also better for the environment as nothing ends up in landfill!

Adhesive Strips

If your lease prevents you from drilling into your walls, this can mean that you’re unable to put curtains up, no hanging pictures and definitely no shelves, which can be a real drag. Pictures, shelves and soft furnishings can make a major difference in how homely your house feels, so we recommend using adhesive strips like Command strips to put things on the walls instead of nails and screws. There’s a huge variety of different strips for different things and you’d be surprised just how much weight some of them can hold.

DIY Patterned Walls

patterned wallsIf you fancy having patterned walls but really don’t like the thought of wallpapering, there are other ways to create DIY patterned walls. From using a laundry basket to create polka dots to masking tape to make geometric patterns, you can create a completely unique, bespoke design which will look really effective, without spending hours trying to line up sheets of wallpaper.

DIY No-Sew Curtains

No Sew Boho Curtains DIYMaking new curtains for your home might seem like a really daunting task if you aren’t a confident sewer, but it’s actually a lot easier than you think, and you don’t even need to sew a single stitch! There are lots of hardy fabric glues and adhesive strips on the market that allow you to hem fabric and attach curtain tape, as well as an internet FULL of tutorials, showing you how to do it.

Tips for Busy Moms: No House Helps

Moms have a lot on their plates, probably more than men have in their briefcases. How do you manage a home without going insane? Good organization is critical. If you are a busy mom feeling overwhelmed, take a minute to read through these tips. They will make your life easier.

Meals

Nothing is more exhausting than daily cooking. What immense efforts were made for a meal that was then quickly swallowed! But offering healthy food to your family is well worth the time. Use these tips.

Frozen foods: Stock up on frozen foods. They are picked at full maturity, stored at the best time of freshness, and they will save you precious time: no need to peel them! 

Meal planning: Plan your menus for the five evenings of the week. Indeed, it is not preparing a meal that takes the most time. It is choosing what to cook! Last-minute decisions about meals are not just time-consuming; they can be stressful.

Cook on weekends: During the weekend, spend half a day cooking. Prepare as many dishes as possible for the week, which you will store in the refrigerator or freezer. When you get from work in the evening, all you have to do is reheat them and add the final touch (a fresh sauce, parsley, etc.).

Shopping

Make a shopping list: Make a shopping list of the products you need regularly. You will hang it on the refrigerator. Whenever you / the nanny / your husband find that something is missing, update it. When it’s time to go shopping, refer to it. It will save you from unending trips to the store during the week.

Use home delivery: Take advantage of the stores’ delivery services. As long as you group your purchases, the amount of the bill will surely entitle you to free delivery.

Shop online: Shopping online can be a bit more expensive. Butyou save the cost of the car trip, and you save yourself a lot of effort. A shopping cart for four people weighs at least 30 kg. Think about the strain on your back when you load and unload!

Cleaning

Pace yourself: It’s not about cleaning everything thoroughly every day but about keeping your home consistently tidy and clean. Clean that uncluttered kitchen table, dirty sink, a stained floor as soon as you notice that they need cleaning.

Use the right products: Most of us are don’t have the time to clean. So finding a cleaning product that speeds up the work can significantly save your time and effort. The right tile cleaner, for instance, should be tough on stains and gentle on the tile surface.

Get every tool you need: Gather all the equipment you need in a plastic bin that you can carry with you. This will eliminate the need to leave one room to pick up a brush or soap in another or from wondering where you may have put the mop or the cleaning product.

Be strategic: When you tackle the cleaning of a room, proceed methodically. Update your knowledge on how to clean grout. Learn about the products and techniques that work best. When cleaning, start at a corner of the room and dust while going around until you return to the starting point. Then clean what is in the middle of the room.

Laundry

Get a laundry basket: Install a basket of dirty laundry in each bedroom or on each floor to encourage everyone to throw away their belongings. This will prevent you from stalking dirty socks under the bed and picking up T-shirts behind the toy box.

Documents

Talk to the children: Teach your children and your partner to empty the pockets of their clothes before putting them in the dirty basket. Nothing is more painful than the white paper handkerchief that we find crumbled on all the clothes or the purple bus ticket, leaving its mark on the ivory blouse!

Sort your receipts and papers, including pay slips, bank statements, reservations—separate bills from correspondence.

Among the documents to be processed, immediately deal with those which require an urgent response or which do not require more than five minutes (a check to write, a slip to fill out). Andgather the others in a file. You will deal with them later.

Good luck!

How to Make Some Extra Cash Without Leaving the House

Photo by Suzy Hazelwood from Pexels

With Christmas a not-so-distant memory and most of us still feeling the ache in our wallets after spending an absolute fortune, many of us are starting to think about ways that we can make a bit of extra cash for the year ahead. If you’ve already got a full-time job, finding the time to earn extra money can be tricky, but there are lots of things that you can do which can give you a cash injection without you needing to spend hours and hours every day working on them. Here are five ways for you to make some extra cash in the months ahead, without having to leave the house.

Betting

If you’re looking for ways to have fun AND possibly make some money, bingo is now at Lottoland! It’s a great way to feel like you’re having a night out with your friends without having to leave the house and the possibility that you’ll make some cash makes it even more appealing. Grab a glass of something and some snacks and have a lot of fun in your own living room!

Selling Things

The beginning of Spring is a really common time for people to have a declutter, usually because of the influx of stuff from Christmas. While you’re decluttering, put to one side all of the things that you think would be sellable and list them on Facebook, eBay, Gumtree and other selling sites. A lot of these things, once they are listed, just simmer in the background, coming up with a sale every now and again, and it takes only the amount of effort to take a few pictures and post them online.

Check your Bills

Take a look at all of your outgoings on a monthly basis – things like mobile phone contracts, TV bills, and other services that you might subscribe to, and really think about whether or not you use them. If your Sky or Virgin Media contract is up, you may be able to call them to negotiate a better deal, same with your mobile phone contract. There are probably better off options out there which could be saving you a packet every month.

Quit the Gym

Just recently I realised that I haven’t been to the gym a single time in the last 12-months, what with everything being closed during lockdowns. My gym membership is only £9.99 a month, so it doesn’t exactly break the bank, but when you consider the fact that I’ve paid £120 for absolutely nothing, it can start to seem a little bit too much. Consider whether you’re actually getting your money’s worth out of your gym membership or if all of the things that you do once you get there could be done from home and you might end up saving yourself a small fortune by quitting the gym.

Meal Planning

One of the things that we absolutely terrible for in our house is buying food and leaving it to go out of date, before throwing it away. This year, I have decided that meal planning is going to be something which features a lot more heavily in our lives. I’ll be choosing meals for the whole family and buying only the ingredients that we need to make them. If somebody doesn’t want to eat what we’re having on that day, unfortunately that will be their tough luck because that’s what we’ll be having and that’s what I’ll be putting on a plate in front of them! I reckon this will probably save us a small fortune in wasted food not to mention will go towards stopping us being so wasteful.

Lockdown Stress and Ways to Deal With It

For many of us, life has gone back to normal in many ways. The kids have gone back to school, places are slowly starting to reopen and there’s a sense that things are getting better. People are learning how to stop worrying about the future. However, when I say “many of us”, I don’t actually mean me! Both kids are still home from school; in fact neither has been since 12th March 2020 and we’re homeschooling Sausage permanently from now on. Lockdown stress is still looming large!

We still don’t leave the house for anything other than shopping and medical appointments, we still wash all groceries and parcels that come into the house, still wear masks, distance ourselves from other people. We’re missing family like mad, but we just don’t feel like it’s worth letting our guards down just yet. Imagine isolating ALL THIS TIME and then catching COVID at the eleventh hour? I doesn’t bear thinking about.

Being indoors all this time means we’ve all needed to find our own ways to entertain ourselves and cope with the situation so that the lockdown stress doesn’t completely engulf us. For Sausage, it’s been all about anime, reading fan fiction, drawing and chatting to her friends. Burrito Baby has found happiness in reading Harry Potter and creating some epic worlds in Minecraft. Husband plays Call of Duty online and I’ve been listening to audiobooks, cross-stitching and baking to keep my mind off of everything.

With this in mind, I thought I’d share some tips for you to follow if you need help with avoiding stress, decompressing when you feel overwhelmed or just generally helping to pass the time if you’re still isolating at home:

Try a New Hobby

If you’re anything like me, there’s a list of things as long as your arm that you’ve said you’d like to try, but always punctuate it with “…but I never have the time!”. Well, I’ve never had MORE time than in the last 12 months and it shows – as well as the cross stitch and baking I mentioned above, I’ve done quilling, card making, sewing and a few other things besides. If there’s something you’ve been wanting to get into, there’s no time like the present!

Audiobooks

As well as taking full advantage of my free trial of Audible (which I promptly cancelled when my trial ran out!), my good friend Jeni recommended an app to me called BorrowBox. It’s available to anyone with a library card and allows you to borrow e-books and audiobooks, just like you would from your library, except it’s all digital. The app is absolutely free and there are no in-app purchases. The range of books can sometimes be limited, but I’ve managed HOURS of free audiobook listening with this app and I do love the escapism from lockdown stress that a good book can provide.

Declutter Your Life

Something I find INCREDIBLY cathartic and stress-relieving is decluttering, and this is one of those things that you can apply to various parts of your life. Whether it’s clearing out your kitchen drawers, tidying those cupboards that are just used for storing stuff you no longer use, organising the shed or garage or even going through your inbox and unsubscribing from all the newsletters and emails you never read. Clearing physical space is a really good way to help clear headspace and the knock-on effect of a declutter is huge for me.

Have you found something in the last year that has helped you through the isolation of lockdown? Are you like us and still doing your best to distance yourself from the world? Have you decided to permanently homeschool your kids once this is all over?

Leave me a comment below, I’d love to hear from you!

It Is Time to Set Clear Financial Goals

Before you get started on planning your financial goals, it is a great idea to check out one of the previous posts on debt if that is a specific area you wish to tackle:

Dead Set on Resetting Your Debt – it has great times for managing your debt correctly.

It is just as important to set financial goals for your business as it is to set them for the rest of the areas of your life.

Each person will have some financial goals that are personal to them. They might be because you want to save up for a particular thing, or it could be how you can begging to live a more comfortable life.

No matter what your financial goals are, it is important that you set them with the intention of making them a priority. From Forex trading to automatic saving. Every action you take has an impact on your goals. So make them count.

Photo by Lena Kudryavtseva on Unsplash

What are ‘financial goals for your business’?

Even if you are at the start of your business journey, you will need to have a plan to grow forward. You can use your mission statement and vision as a guide for the steps you will need to take.

Here are some examples of small business goals that you might consider:

Decreasing overheads and general costs

You might be using multiple online tools and platforms – but do you need them all? Make a note of all of your overheads and look to see where you can cut back. Decreasing your general costs will aid in the next steps.

Increase revenue

A decrease in your overheads will automatically see more money put back in the kitty. However, to truly increase your revenue you might want to consider how you can see a bigger profit.

It is key that you set solid numbered goals here.

Vague = to increase my revenue this year.

Solid = to increase my revenue by in the first two quarters and then even more for the last two quarters.

Ideal = to increase my revenue by $250 dollars a week for the next 6 months, and then by $500 for the following 6 months.

It is important to remember that your financial goals can be much more or much less than this. Be specific.

Cashflow planning

If you are still guessing your income and outgoing, and then checking your bank at the end of the month you are doing yourself a disservice. You should be the king, queen, and master of your cash flow.

Make it a priority to sit down and look at your income and outgoings correctly.

If a cashflow just makes you shudder at the thought, then check out the following:

How to make a cashflow forecast

And you can even get some great templates on Microsoft Office (for free) too: Check out these cashflow templates.

Running a business isn’t just about doing what you love, although that should be the biggest part. It is also having firm goals that can help your business grow, and you to prosper too.