62 articles Tag money

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.

Cars Are Expensive – How Do You Pay For Them?

Paying for a new car, whether it’s second hand or not, can get quite pricey. Even when you have a budget that you’re working well within the parameters of, you can question if forking out this much money is really worth it! After all, the car in front of you won’t last forever, and who knows if you’ll ever default on the payments?

And with all that in mind, it’s time to think about the ways to pay for a car. They’re expensive, for a variety of reasons, but there are three main financial categories you can choose from in the car world. Let’s go through them below.

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With Your Own Cash

Using your own cash is often the most pricey and financially risky way to go – you never know when you’re going to need your savings, after all, and now you’ve just used them all up. However, it’s also one of the safest ways to ensure you’ve got a car for as long as you need it – there’s no payments to default on, and you’ll never be out of your transportation thanks to the lease being revoked.

As long as you’ve got the savings to do so, you can pay by cash. You could also use your cash to put down an even bigger deposit than is actually required, which will stop you from having to pay too much in financing in the future.

Using a Scheme

There are plenty of car financing schemes out there – you just need to look for them! It all depends on fitting into certain brackets, such as being the right age, or being from the right financial background, and then applying to the right places.

For example, you could make use of the Motability scheme. This allows people who live with disabilities to retain their independence, and have some much needed transport in their lives. And these schemes are available everywhere, and for all car models, such as VW Motability. Next time you go into a dealership, be sure to ask for a specialist to guide you around the application process and what’s currently on offer.

On Finance

And finally, you can always get a car on finance, of which there are many different options to choose from. Depending on the money you have to work with, you’re not going to find a one size fits all financing solution here.

From hire purchase to conditional sales (which is the more traditional form of purchasing a car on finance) to PCP (personal contract purchase), you have quite a few variable rates to choose from here. However, be sure to do some more research into each one of these options before you sign one, as they all have their own benefits and drawbacks.

Paying for a car can be done in a variety of ways, and working out which is best for you is important to do beforehand. So, do your research, and make sure you’re getting the right deal here.

Make More Money Online as in 2020 with These Stunning Hacks

There are a lot of things that play a massive part in helping you to make more money online these days. It is so important to make sure you come up with some excellent ideas that will help you to make more money online. There are a lot of things you can do these days, and you are going to need to focus on helping you to make as much money as you can these days.

You have to think about some of the best ways of allowing you to bring in additional revenue, which is essential in this coronavirus era when people are losing jobs and not being able to work. Focus on some of the most effective ways of being able to make more money, and these are some of the best ways of being able to do this right now.

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Sell Antiques

One of the great ways of being able to make money online is by selling antiques. Now, of course, you need to buy them first so that you can sell them on for a profit. You have a lot of things you need to work on when it comes to making a profit this way. Now there are plenty of tips to buying antiques online, but this is something that you need to be careful with so you are not losing a lot of money buying fake antiques.

Dropshipping

Dropshipping is one of the most effective ways of making additional money, and this is something that you don’t need any qualifications to be able to achieve. Try to make sure you work on the best and most effective ways of dropshipping – this is similar to ecommerce, except that you don’t take delivery of the items, instead having them shipped directly to the customer. You can make good money from dropshipping, but it is certainly time-consuming, and this is something you need to keep in mind.

Blogging

Blogging is a great way of being able to earn additional money and revenue, and this is a great way of generating additional money. Now, there are a lot of things that you can do when it comes to creating and managing a blog and monetizing the blog is one of the best ways of being able to do this. Make sure you look for some of the best ways of being able to make money as a blogger, and this is an effective way of being able to make the most of this.

Ebooks

If you are looking for some excellent side hustles that you can use to make money from home, and one of the key ways of being able to achieve this is writing ebooks. Amazon Kindle has made the ebook world explode, and you can enjoy self-publishing your own ebooks very easily. Trying to get a few ebooks published at the same time is a good way of being able to generate a bit of additional income.

These are some of the best ways of being able to make more money and raise additional funds online right now. You have to make sure you do as much as possible to work on bringing in more money, and this is one of the key things that you are going to need to work on right now. These are going to help you make more money, and this is essential for you to work on as much as you possibly can.

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!

 

Does Running The Family Car Have To Be So Expensive?

For most families, the act of running a car is an essential one. It’s also one of the highest monthly costs they have to pay out. The good news is there are some ways that you can reduce these costs and have more money in the family budget for fun and days out. Read on to find out what they are. 

Reduce your purchase fees 

Usually, the single most significant cost related to running the family vehicle is the monthly amount you need to pay towards its purchase or lease. In fact, the vast majority of families choose to pay for their cars on finance rather than buying them outright.

Of course, what that means is you must look for a used car dealer like London Motor Company that can offer the best value for money finance deals. In fact, finding a finance specialist means you end up paying less, and make the entire process of buying a car a lot simpler and easier as well. 

Reduce your insurance 

Next, if you are looking to keep the running cost of your family vehicle low, you must choose your insurance carefully. Of course, there is a delicate balance that you must strike here between keeping the price low and also being covered for every likely eventuality. Otherwise, you could end up in a situation where you do not have coverage, and this could cost you big. 

With that in mind, doing a little shopping around and using comparison websites is the best idea. Then you can be sure that you are not paying a penny over what you need to. 

Reduce your fuel 

Similarly, the cost of the fuel you put into your family car will have an effect on how much you pay out over all as well. With that in mind, there are two things you can do here. The first is to reduce the amount of fuel that you use by cutting down on unnecessary journeys and driving economically. 

Additionally, making an effort to look for the cheapest petrol stations is well worth the time it takes. The reason is that it can cut vast amounts off of your monthly bill. 

Reduce your maintenance costs 

It is also essential to keep your vehicle clean and running safely, especially when it’s the primary way you and your family get around. However, that doesn’t always mean you have to pay out for expensive professional services. 

In fact, when it comes to detailing your car, you can do a professional job yourself from home. All you need to do is invest in a few tools, then follow the advice in the video below. This being a tactic that could save you a real fortune over time. 

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The same goes for some of the more basic maintenance tasks as well. Like changing the oil, checking your tires, and even replacing things like the windscreen wipers. Although, when it comes to functions that have an impact on the safety of your vehicle, it’s always best to get professional assistance, no matter the cost.