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How to Earn Money Investing

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The global economy is changing rapidly with so much uncertainty around industries and political decisions. This is good news for traders who know how to leverage the markets to earn profit. If you’ve thought about trading now is a good time to get involved, however, make sure you go into it with your eyes open. If you want to earn a realistic income with trading and curtail your losses then read on. 

EDUCATION IS KEY

If earning money from trading sounds a bit inaccessible for you there’s a reason for that. The fact is that trading can be confusing until you understand the nuts and bolts of it. However, when you know the basics, it opens doors. 

First things first, don’t trade any of your money or start registering for a trading account until you’ve watched some online videos, read some articles, and played around with a practice account. These measures ensure you have the education to make responsible trades.

SET FUNDS ASIDE 

Investing is also a form of gambling, even though it gives a different impression. When you place a trade you are making a guess about the direction of the market. You might be right and you might be wrong. 

When you get into trading you need to be aware of the risks involved. You may lose some of your money. To mitigate this you should decide how much you are willing to lose and set stop losses on your accounts. 

SET TIME ASIDE 

The other thing you will need to trade effectively is a lot of time. Trading is also known as ‘day trading’ and not for nothing. Traders tend to watch the markets moment to money and make spontaneous decisions about the movement of the market. 

You will need time to do this yourself if you want to earn an income investing in the markets. It may not suit some people but if you have some time in your life to check your platform regularly it should still be possible to trade. 

START SMALL

You might have heard about an excellent trading opportunity, perhaps online or for a promotion. No doubt it will offer huge returns on large investments. This may be viable but be sensible about your money – it’s not advisable to invest large sums if you’re unsure about trading. 

The way to start trading and earn a realistic income is to start small and learn from the ground up. Begin with a practice account and teach yourself the ropes, then you understand better what risks to take with your money. 

STAY REALISTIC 

Most people get into trading on the promise of big wins and easy money. The reality is that trading requires time, skill, and attention to be successful. If you don’t have these attributes there’s a strong possibility of getting stung and losing money. 

Conversely, if you’re willing to invest some of your time and resources into learning trading and you’re realistic about it, it can be a very viable source of income. Remember to start small and do your homework. 

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.

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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.

Business Ideas for the Busy Mum

Business Ideas for the Busy MumAs a parent, you want to ensure your children have the best, whether it be food, clothes, toys, furniture, or leisure activities. Alongside this, bills still need to be paid, and all of the above can cost money.

To be able to manage this, you may want to consider taking on some work. For some, getting a traditional job may not be a possibility, especially with very young children to look after. This is where working for yourself can tick some of those boxes. This can give you the freedom to earn your own money, around a schedule that suits you and your prior commitments to your family.

Also, keep in mind that when you have found a selection of clients for your product or service, you may need an invoice template to be able to request payment on completion of each project. Always use the tools available to you online (click the link) to make your working life easier – you have enough to juggle already parenting and building your business!

Writing

If you have a gift with the written word, you may want to consider taking on some jobs involving the writing industry, such as writing articles, aiding with literature, and, if you understand another language, translating text. These jobs can be found on both job sites and social media, and can quickly give you some money to play with.

Since many writing tasks will have a day and time deadline, as opposed to requiring a certain amount of work to be completed each day, this means you can adjust the amount you are willing to work based on the hours you will be available. For the busy mum, that may be while children are at school or even when they are in bed.

Baking

Some mums find they spend a lot of time in the kitchen, either preparing meals or baking alongside their children. For those who are confident in their ability to produce some delicious goods, selling them may be an option.

Within this, you may be required to complete food safety qualifications, as well as to obtain business insurance. It may also be a requirement to display a list of allergens and ingredients on the boxes to avoid any illness occurring.

If you have a passion for baking, this can definitely be a good step forward for you.

Crafts

Some women love crafts, while others hope it can be banished from their home. If you are the former, you may want to consider creating items either in bulk, or made to order, to sell to the public. Many people sell their homemade crafts on websites such as Etsy every day. You can factor the cost of materials, as well as the time it takes to make the item, into the price, and potentially make a good income from your artistic nature.

Working for yourself from home can be extremely rewarding, especially if it means you get to simultaneously earn money while raising your children. Depending on how much you earn, you may need to declare this to the tax office, and pay any tax or NI contributions, as necessary.

4 Ways To Teach Your Kids About Finances

The decision to impart basic financial lessons to your children is the right step in shaping their attitudes about money and how to spend it. A study by the Personal Finance Education Group revealed that about 98% of children from eleven to seventeen have some money of their own. Ignoring the responsibility of teaching your kids how to be financially-savvy may lead them to make unwise financial decisions with long-term impacts. Here are some ways you can teach your children about finance.

  • Do not engage in impulse buying

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Have you ever gone out shopping with your kids, and they began to hound you to purchase something entirely out of your budget? It is tempting to give in to their puppy-eyed pleas but fight it! Let them understand that you came out to shop with a budget, and anything extra would affect your planned list. Explain how it may be more beneficial to wait it out until another time. You could employ a strategy to deny the kids something else you already planned to get them in exchange for what they are demanding; this would teach them to make the right decisions. 

  • Show them their toys cost money

Are you aware of how your kids may misuse their toys and end up damaging them? Instead of cautioning them verbally, you could consider showing them how much it costs to buy them. For example, if your child has a piggy bank, make them take out a few pounds and go with them to the store to buy another set of toys. Even for a five-year-old, this practical lesson makes them feel first-hand the emotions that come with parting with money. 

  • Make your kids earn commissions; not allowances

Avoid the habit of handing out money to your kids simply because they ask for it. Regardless of how much you love them, this will make them nurture a sense of entitlement, making financial independence difficult in the future. Institute commission earnings and not allowances; when your child completes chores, you can pay them according to a set payment plan, complete with what makes them eligible for pay. However, when you notice they made an extra effort to perform their chores, add a bit more as an incentive or bonus. Doing this teaches your child that money is earned and is worth saving.

  • Use a transparent piggy bank

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It is always a great idea to foster the habit of savings in young children. However, the trick to making your child see their money ‘grow’ is by ensuring that their piggy bank jar is a transparent one; every coin or note you drop in there is a visual indicator of their ‘wealth.’ It’s a wonderful way to build their desire to grow wealth through completing simple chores or being disciplined. You can also use it as an opportunity to teach your kids strong lessons about money and finance. Consider using services such as Debt to Success System BBB and make your lessons practical and easy for your child to comprehend.

It is never too early to begin to impart simple financial lessons to your kids. Money management is a skill worth grasping very early on in life. What you should do is maximize every opportunity to make these lessons fun and practical. Remember that children learn through play.

Three Ways You Can Side Hustle Online For An Extra Income

There are now more people than ever taking to the world wide web to make money with a side hustle. They utilize their skills and take advantage of them to complete tasks online. Some even make enough for a living and travel the world at the same time. Although you may think of it as impossible, it can be easier than you think. 

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Whether its a side project for an extra income or it’s with the goal of becoming completely self-employed, have a look at some of the ways you can make an extra income below: 

 Play Games And Complete Simply Tasks

There is numerous different apps and online source that you can use to make money online for completing really simple tasks. It could be completing reviews of products, earning points for playing certain games, filling in surveys, watching videos, and many more. However, this is certainly not a quick way t make money as the points may take a considerable amount of time to build up to be able to withdraw. This kind of thing is fantastic for those moments where you find yourself doing nothing, such as waiting in a  queue or commuting to work. 

Create An Online Store 

How far you go with this is entirely up to you. However creating a website, using a cheap vps, and starting an e-commerce site could be a fantastic way of making money online. Whether you choose to get rid of unwanted items around your home or make an investment into dropshipping stock, either way, you are on to a good way to make a little extra income. E-commerce can be a fantastic opportunity if you look after it and do it right, especially if you utilize platforms such as eBay and Amazon. 

Create A Blog

You’re, not likely to make money from blogging as soon as you start, however, it can be a great long-term project to secure yourself a secondary or primary income. You can utilize it to voice your opinions and talk about your interests which makes it a really interesting job that you can be motivated and passionate to complete. You do need to be able to commit quite some time and effort into it, but it can certainly be worth it. Although it’s not one of the quickest ways to make yourself money in a side hustle, if you speak about interesting topics, build up a good following, and work on platforms like Instagram, Twitter, and Facebook then you will soon start to see a return on your time and commitment. 

One of the ways that bloggers make money online through their blog is to do affiliate marketing and paid content on their site. If you start to see that you have a good following of readers then this can be a really easy way for you to make an extra income. 

These three methods of making money online should give you some food for thought with your earning potential for a side hustle. Do you make money through a side hustle? How do you achieve it? Please share some ideas in the comments section below. 

Acting Quickly, But Not Rashly, When Hit By Financial Emergency

Whether you’ve suddenly had to deal with a major expense out of the blue or you’ve found yourself saddled with new debt due to poor planning, time is often of the essence when a financial emergency arises. Fail to deal with it soon enough and you can start spiralling into unmanageable debt. However, while acting quick, you want to make sure you’re not making any rash decisions. Here are a few tips to ensure that.

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Start finding ways to cut down your finances

Having some financial flexibility so you can cut your costs as needed and when needed is important. As such, it’s a good idea to look at some basic money-saving tips and, most importantly, to put together a budget. You need to get a good idea of what you’re making and how much you’re spending and where to find the wiggle room you need to pay money aside to deal with debt and other financial emergencies. You can’t afford to ignore bad financial habits, so be sure to track absolutely everything.

Get your creditors in the loop

If you have any debts or credit arrangements, make sure you address those first of all. The sooner you inform creditors of your situation and the difficulty you might have in paying them back, the easier it could be to negotiate them into something like an IVA. What is an IVA? These individual voluntary agreements allow you to freeze the interest on debts and pay them off with assurances, helping you avoid bankruptcy in the long run while making sure creditors have a formal agreement that they will get their money.

If it sounds too good to be true, it is

There are some unsavoury financial services that specifically target people who are in need of help but can lead to even further debt and trouble. As of late, the payday loan has come under a lot of fire. It can see you get money quickly, but with super high-interest rates that can get you in a lot more trouble in the long-run. Don’t look for any short-term solutions and know what you have to pay on any loans you might take out.

Have emergency savings ready for the next time

One thing you should always expect is the unexpected. You might not know what form it will take, but you should anticipate that a financial emergency will, at some point, be part of your future. As such, some people might recommend keeping an overdraft open that you only tap into for emergencies. However, to help you save money, it might be a better idea to start putting together an emergency fund, as well as to make sure that you are appropriately insured to limit the kinds of costs that can rock your finances.

Whatever choices you take, ensure that you understand what, if any, costs come with them. There’s no point taking on new loans, for instance, if you will be no more able to pay them off in future than you are now.

5 Tips to Save on Electric Bills This Summer

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Summer is on our doorstep, but we are likely to spend it indoors this year. Due to the current lockdown, we might not be able to make the most out of local parks and beaches for a while. If you are confined at home, there are tips you can count on to see your money go further, without having to change up your lifestyle too much. Best of all, the tips below can help you enjoy your time indoors a little more!

Leverage natural light

As summer approaches, we can start to enjoy longer days, more hours of sunlight, and later sunsets. With all this natural light, it would be a pity to switch lights on during the day. And, ultimately, this might cost you quite a lot more than just letting the sunlight come through the windows.

However, for the best results, you might need to reevaluate your window coverings and curtains. Heavy drapes might prevent your windows from working at their best. Instead, for the summer, opt to switch to a lighter option. This alternative allows the light and fresh air to change the atmosphere of your rooms.

Switch to a better lighting system

Even if you are trying to limit the usage of lights, we rely on them for most of the day. However, some tricks can help you reduce your energy bills. Start by switching to a more sustainable lighting scheme and low consumption light bulbs. 

Moreover, if you often end up working late, invest in task lighting, which allows you to switch off the primary source of light and stay focused with just a small lightbulb. Additionally, it might be worth considering swapping to LED lights which are much more efficient than your standard bulb.

Use air conditioning mindfully.

As summer approaches, temperatures also start to rise. If your outdoor space is limited and your windows don’t seem to allow enough fresh air in, you are probably thinking to invest in a proper air conditioning system. While this is an excellent idea, you should Compare Energy Prices and implement other forms of air-cooling appliances, such as fans. 

Live more sustainably

Deciding to live more sustainably this summer has excellent benefits, among which the opportunity to save a little more on electricity. Some tips to reduce your footprint include:

  • Taking shorter showers
  • Turn off unnecessary lights
  • Unplug electronics that are not in use
  • Let your dishes air-dry
  • Use lower temperatures settings on your appliances
  • Buy fresh food that won’t need much refrigeration or cooking

Make the most out of your garden

Staying indoors for such a long period might have forced you to find new ways of entertaining yourself and your little ones. However, having the TV on all day long or charging your phone multiple times can end up being costly. Instead, if you have a garden or small terrace, opt to make the most out of it. Dinners al fresco and sunbathing afternoons can be an excellent way to turn off the lights in your home for a few times and forget about the TV!

 

Fun Ways to Make Money Without Huge Investment

Fun Ways to Make Money Without Huge InvestmentPhoto by Micheile Henderson on Unsplash

While many of us love the daily routine of having a set place of work and defined working hours, for others, having a flexible way to make money is the only way they can work around their family. Obviously, we’d all love to be able to run successful, and more importantly, profitable businesses, but most businesses require some form of investment to get up and running, and that’s not always available. With this in mind, I thought I’d take a look at some ways that you can make money without needing to make a huge investment first.

Personalised Gifts

There are companies which allow you to make custom-made gifts and merchandise to order. Dropshipping is becoming a really popular way for people to make money and basically just allows you to act as the middle-man between customers who want things and companies who make them. You don’t pay for anything until someone has ordered it from you and the potential to make money is pretty decent.

Blogging

A lot of bloggers aren’t that open about how they make money, but it’s simple. When you start a blog, your website starts to gain “authority” from Google. In time, this authority will make you valuable to other websites if you link to them. SEO companies will pay you to post links on your site and sometimes companies will send you items to review and write about, which you can either keep or sell.

Write an eBook/Course

Do you have a particular skill that would be valuable to other people? It could be anything; writing, gardening, baking, parenting, car mechanics – if you’re enough of an expert to teach other people then writing and selling an ebook or online course could be a lucrative way to make money. Some publishers ebooks will tell you that there’s no money to be made without a significant investment, but this isn’t always the case. It’s also what’s known as “passive income” because once it’s done, you just have to sell it and thee things often simmer quietly in the background.

Virtual Assistant

If you have good admin or organisational skills, becoming a Virtual Assistant (VA) will allow you to ue this skills from your own home. A VA does everything that PA or admin assistant does, but virtually. You’ll often have a weekly Skype call with your clients to see what they need you to do that week, and you’ll usually share documnts through something like Google Docs so that everyone has access to the work being done.

Sell Photos

If you’re a decent photographer and already have a good camera, selling stock imagery online could be another good way to make cash. There are number of big sites like Unsplash, ShutterStock, Fotolia, iStockPhoto and Photobucket where you can submit your photos. Whenever a customer wants to purchase your photos, you will get paid as per the price you fix and the best part is, you can get paid multiple time for the same photos.

4 Easy Ways to Make Your Money Go Further

Making your money go further as a parent can be tricky. You don’t want your kids to miss out, yet you don’t want to be splurging out on things you can’t afford.

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There are many different ways you can save money, but did you know you can also take advantage of different options to save money on things you need to pay for or buy. 

So how can you save money on your household expenses without cutting back?

Check your subscriptions

If you are finding you are paying for a tv subscription you aren’t using, then it may be time to find alternatives. Check out a TV sale clearance to see if you can find a better price. Or even a new TV on offer to save you some money and stop you paying for packages you simply aren’t using.

Apply this to other subscriptions you could be paying that you can find a better deal for or even cancel altogether. This will help you free up cash from your monthly budget to put to better use elsewhere.

Loyalty Cards.

Everyone still needs to buy food, toiletries, clothes. Shopping in sales can help you save money initially. However, signing up to store loyalty cards can help you accrue points you can then use for future shops. think of it as a rainy day fund, or a Christmas savings account.

The thing is if you are spending your money with them any way you may as well get something back for it, right!

Cashback Sites.

If you shop online frequently, then are you using a cashback site? If not, then maybe you should be considering it. It is pretty easy to use too.

Simply sign up, and start shopping. find the right deal for the site you want to buy from, or even service you want to use or sign up to and click through from the cashback site.

Qualifying shops and spends will then be tracked and once the holding period is over, you have the funds in your account to do as you please. You can save the money until you have a decent lump sum. Or withdraw it as soon as you can and benefit from some free cash. After all, you have earnt it!

Use Deals

Make a vow to yourself that you will try to find as many deals as possible to help you afford meals out, day trips and even holidays. There are always voucher codes out there or even discount cards that will allow you to save money. 

From buy one get one free offers, to kids eat free and half-price deals, you can find yourself some great offers to help you save money doing what you do regularly.

Be savvy when it comes to your spending and see how you can save as you spend by utilizing all of the ways mentioned above. Use websites, vouchers and even apps to help you find the best offers and deals out there.

 

Struggling Financially? There’s No Need To Panic!

The truth is that at one point or another, most people will struggle with their finances. It’s not easy feeling like you’re sinking, as a result of struggling to manage your finances properly. It can feel as if it’s your fault you’re finding it hard to stay financially afloat, when actually it isn’t your fault. Yes, you may have made some bad choices with money or you may have lost an income stream, but blaming yourself isn’t going to help you or your family. Instead, you need to approach the problem head on and face it. 

Of course, knowing how to do that isn’t always easy, is it? When you find that you’re struggling with your finances, it’s not easy to accept the situation that you have found yourself in. You may be feeling upset, angry, embarrassed, or ashamed, or all of these emotions. However, it’s important to remember that financial problems impact a far wider number of people that you can imagine, and you really are not alone. 

You may be feeling anxious and panicked by the situation that you have found yourself in, however it’s important to stay calm and try not to let it impact your mental health and wellbeing. Yes, it’s a rubbish situation to be in, but don’t let it impact your mindset – instead find a way to move forward. 

To help you to do that, and to help reduce the stress and strain that you are under, below is a guide to some of the steps that you can take if you find that you are struggling financially. 

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Don’t ‘bury your head in the sand’

The very worst thing that you can do is ‘bury your head in the sand’. Whatever you do, don’t make the mistake of pretending that it isn’t happening, or the situation will only end up getting worse. That’s why it’s so important that you are willing to accept the fact that there is a problem, because without doing so, it’s impossible to face the issue head on. However, by accepting that you are struggling financially, you put yourself in a position to deal with the problem in a more positive and constructive way. 

If you ignore the problem, it won’t go away – if anything, it will only end up getting worse. That’s why it’s so important that if you’re struggling financially, you acknowledge that there is, in fact a problem, as by doing so you can then address the problem and prevent it from getting worse. 

Write a list of what you’re struggling with 

The first step that you should take is to sit down and write a list of all the things that you’re struggling financially with. While the concept of doing this might seem somewhat daunting, it’s an important step to take and one that should help to make getting things back on track, somewhat easier. 

Sit down and write out a list of any bills that are overdue as well as a list of any debts that are owed. It’s also important to work out the monthly cost of your living expenses, and determine whether they are affordable. If your living expenses outweigh your monthly income, then you have somewhat of a problem. However, what it’s important to remember is that there are a number of ways that you can make managing your finances a little easier. By creating a list of your finances, you can work out what you can afford to pay and what you are unable to pay, and can then move forward from there. 

There is plenty of support available from financial charities, as well as debt charities like Step Change, for instance. So whatever it is that you are struggling with, don’t feel like there’s a lack of support available, because this isn’t the case. 

Consider selling assets to help 

If you’re struggling with your finances and need a means to an end, one option is to consider selling your assets to help cover the cost of your debts or to help make your living expenses that little bit more affordable. The fact is that while this might not be a route that you want to go down, it may be one that could be helpful, and thus is worth considering. 

Take the time to think about what you could sell – whether it’s old and unwanted furniture, electricals you no longer need, or something else. There are some great resources online designed to help you determine assets that you could sell to boost your income – for a little inspiration have a read of: ‘The 6 Surprising Assets You Can Sell To Supplement Your Income’. These kinds of resources offer some fantastic tips and ideas for making it far easier to give your income that much-needed boost to make managing your finances that little bit easier. 

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Find a way to earn more 

Another option, when it comes to making it easier to manage your finances, is to consider supplementing your regular income by earning more from a second income. While this may not be an idea that appeals to you, it could be a good option to consider, and it doesn’t necessarily have to mean leaving the house. Believe it or not, there are plenty of ways you can earn from home, including by freelancing. 

Whatever your job – be it working in education, marketing, medicine, health, or any other industry for that matter – there are plenty of options for freelancing within your chosen industry. However, it might just take a little time to work out what these options are. Let’s say, for instance, that you work as a teacher but need to boost your income – perhaps you could work as an online tutor? Or, say you work in marketing – maybe you could offer some freelance social media management to smaller companies? Whatever area you work in, there’s sure to be a way that you can earn some extra money through freelancing. 

A great tip is to look on sites like Indeed for remote roles, as well as using Facebook community groups specially created for your industry, and LinkedIn job boards to source remote and freelance roles. 

Struggling financially is not easy to cope with, however with the right action plan  in place, you can make managing the situation that you have found yourself in, far simpler and easier to cope with.