Savings

How President Trump’s Tax Cuts Could Affect the Stock Market

Stock MarketThe 45th President of the United States, DonaldJ. Trump, famously said he would do “great things” during his first 100 days in office. A major fiscal policy announcement was therefore widely anticipated before the end of this critical initial period for the new administration.

On Wednesday, April 26th, President Trump announced his plan for tax cuts, but uncertainty remains as to how he plans to balance the books. Of course, congressional approval is needed before the plan can be enacted, but with the largest Republican majority in almost 90 years, the President should be able to achieve this signature reform.

Investors and brokers such as UFX.com always need to be prepared for major political and economic announcements, since they can often increase market volatility. The prices of key commodities, indices, and currency pairs are often strongly affected by these kinds of events, and traders should be ready to calculate how public opinion can drive market movements.

When trading stocks or ETFs (Exchange-Traded Funds), which track the overall worth of a stock index, it’s important to monitor the strength of the economy as a whole. President Trump’s tax cuts are clearly designed to have a major impacton the U.S. economy by making it easier to start small businesses, traditionally seen as the backbone of the country.

The President’s tax cuts are also designed to boost employment by large corporations. Reducing the corporate tax rate from 35% to 15% is intended to encourage labour force participation, which could then generate incentives for foreign companies to do more business in the United States, benefiting the American economy.The idea is to create a ‘virtuous circle,’ whereby companies make more money because they are paying less in taxes, spurring investors to put more money into the stock market.

President Trump also spoke about lowering dividend and capital gains taxes to 20%. This would make stocks more attractive to traders, who might then invest more money in the markets.

If bothCongress and the Senate approve the plan, it would be widely seen as a blessing for those with extensive stock portfolios. However, the long-term effect might be to widen the American trade deficit and drive up interest rates, which would then negatively impact the markets.


Should you invest your savings or use it to pay off your mortgage sooner?

In the present days, future retirees have a vital decision to make which could lay the foundation for future financial security during retirement, given the fact that majority of the homeowners have mortgage as the largest debt throughout their lifetime. While aging homeowners have the worry and concern of not being able to save enough money for their future, they are also anxious about paying off their mortgage loan which is the biggest liability and responsibility.

Retirees with mortgage debt are usually faced with the battle between crushing their mortgage and keeping their mortgage. The crowd of leveraged investors will all try to convince you about retaining your mortgage as they’re the ones who earn from you. So, lets’ read on the discussion which tells you about whether or not you should keep saving money or use it to repay your mortgage loan.

Paying off your mortgage loan faster

If you decide to repay your mortgage early, there are lots of advices on how you should get it done. It comes down to following the same 3 words, ‘pay more principal’. This is not a magic secret but you have to understand how it works. Paying off the mortgage principal before time is a good way of saving money as small debt reductions sum up dramatically over the life of the loan, thereby eliminating the payments in the interest rate of the loan. Here are few strategies to pay off loan fast.

  • Add principal to the monthly payment: This tip is applicable only when your mortgage doesn’t have any pre-payment penalty. You can try to offer a one-time lump sum where you devote all your proceeds from the unused jewelry, motor home, selling a boat towards making mortgage payments.
  • Bi-weekly payments: If you can’t make a single monthly mortgage payment per month, try to make half the payments every 2 weeks. As in 12 months, there are 52 weeks, this cause 26 half-payments or 13 full payments instead of usual 12 payments and there is one extra payment in a year. You can use a bi-weekly mortgage calculator to compute payments.
  • Refinance to a low rate: One more strategy is to refinance to a low interest rate mortgage while maintaining the same term of your mortgage loan. The key is not to take any money out or to elongate the term of the refinance loan. Make sure that the new loan offers a low payment with the decreased cost of interest.
  • Refinance to a short term: Yes, this would definitely mean larger monthly payments, but at the end of the day, you don’t have to pay those extra costs on interest rate. Make sure you pay back the loan as soon as you can even if that means compromising on some of your favourite things and daily habits.

Therefore, if you’re a senior and if you’re wondering about the ways in which you can pay off your mortgage sooner in order to become debt-free, you can take into account the above mentioned tips and strategies.

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https://cdn.pixabay.com/photo/2016/04/24/16/09/home-1349925_960_720.jpg

 


Essential Money-Management Tips For Any Small Business Owner

Money Management Tips

If you’ve been running a small business for long enough, you’ll know that your success isn’t just down to the number of paying customers you get, but also how you manage your money after it comes into your organization. This is why it’s so important to pay close attention to have a firm handle on all the capital that’s entering and leaving your operation. Here are some essential money management tips for any small business owner…

Save, Save and Save Some More!

Having established a budget that you’ll be able to stick to, one critical habit you need to stick to is saving money. You never know when sales can suddenly slump or other financial problems can arise from factors outside of your control, so cutting down unnecessary expenses is absolutely non-negotiable. This isn’t just about stashing away all the capital that you earn through your business. It’s also about being smart with what you spend. Sure, it would feel pretty great to have a private office with your logo above the entrance, but if you can continue to operate managing remote workers from your home computer, then this is the way to go. Smart decisions like this can save you a huge amount of money, which you can invest in the future of your business, or store away as a financial safety net for the future.

Hire or Promote a CFO

Having a chief financial officer at your business can make managing the financial comings and goings so much easier. While you should still have a direct role in this, you’ll be able to pass a lot of routine money-management tasks onto this professional, and focus more of your attention on pushing on towards the overarching, long-term goals of your business. If you can’t afford to hire an experienced CFO, then an accountant or bookkeeper can also take a lot of the strain off your shoulders. You may also be able to promote a CFO or similar professional from within your organization if there’s anyone who’s particularly good with numbers. You can make sure that they’re up to the task by setting them up on distance-learning courses like this:

http://online.maryville.edu/accounting/bachelors/. Your resources might be pretty stretched right now, but hiring someone to help with your money management is one investment you certainly won’t regret.

Form Strategies to Boost Cash Flow

Good money management obviously goes way past maintaining the current state of the business. You also need to formulate strategies that will boost your cash flow, and protect you against times where business is bad. Just like with saving, there are many different ways you can boost your cash flow, for example offering discounts and incentives to customers who pay their invoices early. You should also be thinking about developing additional products and services that will broaden your market appeal, and allow you to offer things that your competitors can’t. You can read a few more suggestions here: https://www.entrepreneur.com/article/277045. You might be pretty stable for now, but if you don’t try to increase your cash flow, growth is going to slow to a crawl.

 


How Much Should You Pay for Car Dependability?

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There is nothing worse than having your car break down while you are on the way to someplace you need to be. Perhaps it’s happened to you in the rain, or on your way to a wedding, or at night when you’re in a sketchy part of town. For some, driving an older vehicle is a source of constant anxiety because of the threat of breakdowns and high repair costs.

But not all of us can afford a brand new car. If you need a car to live your life, it’s important to know how to get the most dependable vehicle at your price point, and to consider paying a little more if your needs can’t be met at your current budget. Used cars from dealerships like J.D. Byrider will undergo a lot more scrutiny than the car you see on Craigslist. If dependability is a priority, that may be an important consideration.

Still, reliable cars can be found from many sellers. As a buyer, you just have to know what you need, as well as how to evaluate specific possibilities. Start by researching cars that will fit your purposes. Think about what you need in terms of storage, fuel efficiency, power, and every other characteristic which will have an effect on your life. Choose five or six cars that meet these needs, which are more or less in your price range depending on the seller.

Car Dependability

Some people stop here and immediately start looking for bargains. Pump the breaks! You’re not done. Now you need to start to research the details hidden under the hood of the used cars in your short list. Get on forums and research common problems associated with these vehicles. You might discover that that minivan you wanted was manufactured with a transmission that almost always conks out at 90,000 miles. Or, you might discover that the Jeep you’re interested in will get to 300,000 miles routinely, with only regular maintenance.

Once you’ve found a car that meets your needs as a driver, and sounds like it can be maintained with your income and experience, start looking for deals. Start with a quick search among all area dealerships to find out how many of vehicles of the make and model you are interested in are available in your region. You can just choose the car at the lowest price if you want to have the assurance that results from getting a car from a reputable dealership.

If you want to dig even further, look at internet and print classifieds for listings of the car you’re looking for. Expand your search to 150 miles around your home, or more if you’re willing to travel long and hard for a deal. You’ll find cars this way that aren’t well marketed and have few prospective buyers. You can negotiate a much better price in these circumstances. Just make sure to get the car inspected before you buy it!

Look hard for the car you want, and make sure that the car you choose will meet your needs and be within your ability to maintain. This way you’ll save money and get exactly what you’re looking for.


It’s A Rich Man’s World: What To Do With Your Windfall

If you’ve recently come into some money then first of all: congratulations! (Or commiserations, if the money arrived in your hands because of an inheritance, rather than something a little more fun like a bonus or a lottery win.) Coming into money can be a great thing, but it may be a little more stressful than you were anticipating. Here are some top tips on what to do if you have a sudden windfall…

Pay Off Your Debts

Pay Off Your Debts

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First of all, it’s time to pay off your debts. Depending on how much money you’ve come into, this might be paying off your credit card debt, finishing up your car payments or even paying off your entire mortgage. Not having debts will free up a lot of your salary from your everyday job to go into your savings, for something fun like a great vacation every year or something a little more sedate like your kids’ college funds. Paying off your debts as quickly as possible will help you be free of interest, which means that you’ll end up paying a whole lot less in the long run.

Update Your Home

Your Home

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Secondly, why not consider updating your home? Not only will this raise your living standards (imagine how great it would be if you got an extension so your kids don’t have to fight over the shared space of their bedroom any more?) but it’ll also end up adding value to your home in the long run, even if you don’t want to sell it just yet. Generally, loft conversions will add the most money to your home, followed by an extension. It’s also a good idea to make sure that your bathrooms and kitchen are freshly renovated. Even though any prospective buyers might want to rip them out and put in their own, a lot of people are looking for homes that they can immediately move into and live in, so they’ll want those rooms to be beautiful and functional.

Get Investing

Get Investing

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A lot of us aren’t even sure where to start when it comes to investments. A lot of people choose to invest in property, which will give you a steady income – you just need to make sure that you choose a suitable area, near train stations for commuters and near good schools so that the property will appeal to young families. You could also choose to invest in something like gold or in diamonds – they’ll never lose their value, after all, and will always be in top demand. If you’re not sure where to begin, check out the diamond price calculator from Diamond Registry. Finally, try investing in stocks, shares and bonds. Make sure that you diversify your portfolio and that you don’t put a huge amount of money in one company.

Save A Nest Egg

Save A Nest Egg

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Finally, it’s important to make sure that you save some money too. There’s nothing that gives you security more than having some money in the bank that you can rely on and that will enable you to be free in other areas of your life – having savings gives you freedom to take risks and chances.


Starting Adult Life: Saving Dough When You’re Broke

Perhaps you’re a student living far away from home for the first time in your life or you’ve recently graduated and you’re about to enter the “real world” in a brand new career. Either way, independence can often feel like a double-edged sword. There’s no denying that it’s freeing to be in control of your own life, as you can go where you want, buy what you want and simply live however you want. However, adulthood brings all the stresses and worries which used to be your parents’ concern but are now your concern. It can be all be rather overwhelming when you’re young and everything’s happening all at once.

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The main worry on any young adult’s brain when they become financially and legally independent concerns how on earth one is supposed to save money or simply afford anything, for that matter, when money is in such short supply at a young age. Even if you’ve started your first job, you’re likely in an entry level role on the bottom rung and you want to be as careful with your finances as possible until you’ve gained a little more experience and worked your way up to a more stable role. Whilst you’re at this tough starting point of adult life, here are some great tips and tricks for saving money when you’re feeling practically broke.

Find a roommate.
Maybe your new career is dragging you away from your hometown and into the city. If it’s not a long or expensive journey, then commuting from home until you’re a few years down the line might be a smart financial option, as long as you pay your parents some amount of rent. However, for the majority of people, moving out of home is a necessity both in terms of cost and the time it takes to travel to work.

This is likely the moment when you realise that, even if you rent a place, it’ll take a huge chunk out of your available monthly salary, leaving scarcely enough for the weekly food shops. At this moment, you need to prioritise your need to eat and find yourself a roommate. Splitting your rent costs in two is the only way you’re going to survive financially in these early days of your career, and living with another person isn’t all that bad if you choose the right one. Perhaps opt for a fellow working professional than a messy student who might not keep the place in one piece.

Learn how to budget.
Once you’re settled into a routine and you know how much money is coming in each month, it’s time to plan your expenditures. You know that you’re looking at a fixed amount of monthly disposable income unless you’re working on a freelance basis (but the necessity of budgeting still applies). If there’s only ever so much coming in on a regular basis, then you just can’t exceed your salary. It’s as simple as that. It might sound like common sense, but so many people end up in rough financial situations because they fail to live within their means.

Avoiding debt is simple. Budget, and stick to the budget. Allow yourself a fixed amount of luxuries, and if you don’t have enough to pay for that fancy new watch or laptop, then keep saving for another month or so and buy it then. As a rule of thumb, it’s always a good idea to let the desire for a certain purchase stew in your mind for a little while anyway to see if you still want that same luxury when time has passed.

Of course, there will be times when a necessary purchase has to be made or a financial emergency might arise which leaves you in the lurch. If you do need to borrow money, then don’t panic. You’ve not ruined your life. Everybody incurs some form of debt at some point in life, but the key is to simply prioritise this loan over the coming months and put all disposable income (after necessities such as rent, food and utility bills) towards paying off that debt before you buy any more luxuries and certainly before you borrow any more money. You’ll find that you handle debt smartly and quickly if you always work towards paying it off straight away. It can be very manageable if you have your financial head screwed on.

Your first car.
Perhaps your annual salary is generous enough that you might be able to afford your first car on top of rent. One of the joys of being an adult is that, whilst you might have passed your test years ago, you now have the finances to be the owner of your personal mode of transportation. This is the ultimate sign of independence and freedom, but, much like any other huge purchase, you’re aware of the financial drain involved with buying a car. Even if you find a deal with a cheap upfront cost, there are other factors to take into consideration. You might want to compare cheap car insurance quotes, as you’ll probably have already coughed up quite a hefty chunk of your valuable funds on the car itself. It’s also important when you’re choosing the perfect car for you, that you consider all other costs involved with the model; how economical it is, fuel-wise, for example.

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Your emergency fund.
This is another big one. Life is full of unexpected twists and turns, which means it isn’t always fair. Sudden emergencies, accidents or legal issues could put a huge dent in your bank account if you’re unprepared for them. Of course, nobody can prepare for what they don’t see coming, but you can always preemptively prepare for the possibility of a costly problem. That’s why it’s important to create an emergency fund. Whilst you likely want to put all your disposable income towards living life to its fullest, you’ve got to think about how much your future self will thank you if any problems ever arise.

Think about how thankful you’ll be in the future when you most likely run into some sort of issue which becomes minor and easy to solve because you luckily prepared for it by setting aside a small chunk of your monthly income into the emergency stash. You don’t have to put everything in there, and there’ll still be enough to treat yourself to nights out and having fun with the friends. Still, even the smallest amount of money on a monthly basis can build up to quite a sizeable sum after a few years of adding to the emergency fund. Just don’t dip into it for anything other than emergencies.

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Follow your dreams.
That’s such an overused piece of advice, but it rings true for all people in all walks of life. If you want to work towards a comfy financial future where all your present-day money-based worries are a thing of the past, then you need to be heading down a career path which inspires and motivates you. Climbing the career ladder from an entry-level role to a higher position is about having that spark for a certain industry area or that charisma within a certain type of job role, and employers see that instantly.

You’ll stand a much better chance of furthering yourself in your career and earning a more sizeable salary if you focus on where your skills lie and running with those talents as far as you can take them. Following your dreams doesn’t have to mean you’re going to be the next Brad Pitt, but it can mean that you turn your passion for computers, writing or drawing into something applicable to the real world. Don’t just head down the career path which seems “safe”. You’re young, and there’s always time to change your mind; challenge yourself, and you’ll be rewarded.


How Youthful Spending Affects Later Savings

When we’re younger, it feels like we can put off saving for later. We have all of the time in the world to make up for any youthful financial mistakes we might make in our late teens and even mid-late twenties. It’s easy to fall into the trap of feeling financially invincible. This is why it is important to be vigilant.

Trust us: better to be lame and frugal now than to not be able to retire because you have to spend your later years paying for all of the mistakes you made when you were young. Plus, frugal living and saving responsibly doesn’t necessarily have to be about staying home and eating ramen every night. There are a lot of practical ways to dramatically reduce your spending that won’t have a huge effect on your lifestyle. Check it out.

Power Consumption

You might think that spending all day at work and most nights out with friends is already helping you save power. In a way, you’re right. But there are a bunch of ways that power consumption can sneak up on us. For example, do you leave your stuff plugged in all day? Even if your devices are turned off, leaving them plugged in will cause them to leech power from the grid.

Are you paying as little as possible? Call the power company and talk to them about all of the service charges and taxes you see on your bill. You can likely get many of them removed. If you live in a deregulated energy market, spend some time shopping around for the best rates. Deregulation gives you the power to choose which companies provide which kinds of energy. Take advantage of that to get a lower rate!

DiY Stuff

Dumpster diving carries very little of the stigma that it used to carry. When your parents were teens and twenty-somethings, thrifting was cool but dumpster diving was considered “low rent” and socially frowned upon. These days, thanks to all of the great new supplies and expanded access to tutorials, nobody will ever be able to tell that you didn’t buy all of your furnishings and decor brand new.

Diy Food

You know you can do more with a waffle maker than just make waffles, right? Waffle makers can also be used to make panini sandwiches, quesadillas and a bunch of other stuff. Take some time to surf the web looking for ways to turn single use kitchen gadgets (the kind everyone insists on giving you for your first place even though you’ve never successfully cooked a meal in your life) into multipurpose devices. Another good example is the slow cooker. Use it as a breadmaker as well as a dinner helper!

Use Cash

Of course, a simple Google search will turn up thousands of ways to save money on what you spend. If you really want to protect your financial future, you’ll save your credit. Financial boondoggles have a way of sticking around on credit reports and dogging you long after you’ve cleaned up your spending habits. So, instead of taking out a card with the biggest credit limit possible and then maxing it out, start with a secured card and a small credit limit. This will help you get used to using credit responsibly and paying your bills on time. Use the credit card to pay your Netflix bill and other small recurring expenses and then pay it off entirely every month. Use cash for everything else. You’ll build up a great credit score and history that will make it much easier to qualify for “big kid” credit like mortgages, etc. later on.

Out of Sight Out of Mind

Most employers offer direct deposit these days. Have yours set up to distribute your paycheck into two accounts. 10% of your paycheck should be tucked away into a savings account (the highest yielding account you can get). Having it deposited directly into savings will dramatically reduce the urge to spend it before you can make the transfer yourself.

Another good idea is to start investing using little amounts. Use apps like Stash or Acorns to invest a few dollars each week into an investment portfolio. This will give you real time experience in tracking investments without the hefty financial risk that comes from the type of investing that comes along when you get a little bit older and start really building your portfolio.

Remember: you don’t have to live like a friendless pauper to ensure your financial future. You do, though, have to be as responsible as possible now so that you won’t have to worry about whether or not you’ll be able to retire when that time comes.

Image source: https://pixabay.com/en/coins-currency-investment-insurance-948603/


8 Ways You Can Get As Much Cash As Possible For Your Home

If you’re selling your home, then of course you want to ensure you get as much cash as possible. These 8 tips will be a huge help in ensuring you get what you deserve for your home. Read on to find out what you need to do:

  1. Set A Reasonable Starting Price

Many people go about setting a much higher starting price for their home than they really want. They do this because they think that people will haggle with them anyway, and want to ensure they get a reasonable amount. However, setting a starting price that is too high can deter buyers, and real estate agents may think you’re unwilling to negotiate. Make sure you set a reasonable starting price so you don’t scare buyers off.

  1. Make Sure Your Curb Appeal Is Up To Scratch

Your curb appeal should be up to scratch if you’re going to get as much as possible. Make sure it’s tidy. Get rid of weeds, and plant new flowers. Make repairs. Add new slabs, maybe even a new letter box. Paint your door. There are all kinds of things you can do to improve your curb appeal.

Flower Door

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  1. Use All The Senses In The Buying Process

The buying process usually has a lot to do with the experience a potential buyer has in the home. If you help enchant all of their senses, they will be more likely to put in an offer. This is why many people bake fresh bread or cookies. It makes the house smell great and makes a potential buyer feel at home!

  1. Clear It Out

Make the house as empty as you possibly can. It might not be possible to get rid of all of your belongings, but be really vigilant. The emptier the space, the more a potential buyer will be able to see what they can do with the space. This includes clearing out storage areas.

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  1. De-personalize

Take down pictures of friends and family. Make kid’s rooms look neutral. De-personalizing might not be a nice experience, but it’s going to ensure a potential buyer can picture themselves in this house, and figure out what they can do with it. You can make it difficult for them if you fail to de-personalize.

  1. Be In It For The Long Haul

You may need to be prepared to have your home in the market for months if you want to get as much as possible for it from a potential buyer. The only other option if you want to sell your house fast, is to sell to a home buying company.

New Dutch Oven!

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  1. Make Repairs and Renovations

If you can make repairs and renovate important rooms like the bathroom, it’ going to be more attractive to potential buyers. If you have added new features and modernized the place, chances are, you’ll get a higher offer.

  1. Replace Appliances

Replace certain appliances with star rated energy appliances and buyers will be more interested then, too. It gives a potential buyer one less thing to worry about when they move in.

If you don’t want to go through the hassle of doing all of these things and sell as quickly as possible, then you may just need to find a company that will give you cash for your home. Thanks for reading!


How To Get In Good Financial Shape For The New Year

The Turkey sandwiches are all eaten. The Christmas tree is sticking out the dumpster. And your drinks cabinet is reduced to crème de menthe.

It’s January, and the time we all decide which resolution to make a go at. If yours is to improve your financial health, here’s our pain-free workout to save money and reduce debts. Stretch off and let’s go.

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Budget, better

Lay out your statements and look out for those direct debits that fly under the radar. You know, the $50-a-month gym membership you rarely use. Check for the small stuff that adds up, too. Hmm, do you really need that National Geographic subscription. It’s also good to set a budget for luxuries. That way, you’ll avoid impulse buys that come back to bite at the end of the month.
Budgeting is an essential to way to get your finances back on track.

Make the switch

Switching utility companies, banks accounts, and credit card companies is a good way to cut down bills and benefit from new joiner perks such as cashback, 0% interest for 12 months, and erm, fluffy toys. Check out the money comparison websites. Then compare the comparison sites. If you do switch, keep checking you’re getting the best deal and switch again if needed.

Consolidate debt

We all hate those manila envelopes that drop through the letterbox. Credit cards, course fees, and electricity bills always come at the wrong time. With debt consolidation loans, you can pay off all your debts in one monthly payment. That way, debts are easier to manage, and you needn’t worry about misplaced bills.

Boost your credit score

If your credit rating is looking a little limp, there are ways to build it up again. Joining a credit builder account is perhaps how to build credit fast. They help you establish credit history, check and track your credit score, and get access to financial tools to help you save.

Set up a savings account

If you haven’t already, set up a savings account. You can earn interest, find a no monthly fee account, and still access your money whenever you want. Plus, you can set up automatic payments to gradually build your savings. And weekly or monthly deposits from your regular account into a savings account means you can save without the hassle. Just take the time to shop around for the best interest rate.

Make little changes

You don’t have to make epic lifestyle changes to improve your financial position. The little things all add up. Read a lot? Guess what, libraries still exist and save you buying new books at stores or from e-readers. Going to a special event? Hire designer accessories from websites such as www.fashionhire.co.uk. Got a long-distance relative? Skype or WhatsApp them instead of splashing out on costly phone calls.

Follow these tips, and you’ll discover you’re in much better financial shape this time next year. So much so, you’ll need to find a different resolution to tackle in 2018.

 


Golden Rules For Parents Struggling To Save For Their Kid’s Education

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Bringing up children is expensive – it costs over a quarter of a million dollars to raise the average child to the age of 18. And there is a lot of pressure for parents to save even more than this by putting money away for their children’s education.

But, let’s face it – not every household in the country can save money for retirement, let alone the extra needed to put their kids through university. Today, we’re going to look at some golden rules that any parent who is struggling to save should follow – and hopefully, they will help you ease your burden, now, and in the future.

Don’t feel guilty

First of all, try to avoid feeling guilty about your inability to put money aside for your child’s education – you are in the same boat as millions of other people. You also have to bear in mind that giving your child a stable and pleasant home environment is a great thing to do – and it will allow them a chance to grow into good people. All’s not lost, either – if you help your child with their studies, there are scholarships available which your child may qualify for.

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Educate your child

If you have no savings to contribute, your child will need to take on debts if they want to go to university. Again, this is OK – and the vast majority of students leave with big bills to pay off. However, it does mean that educating your child about money and finances is going to be critical. If you can teach them good habits and the difference between ‘good ‘ and ‘bad’ debts, it will do them a lot of good. Click here or look elsewhere on the web to see some excellent guidelines about where to begin.

Start saving now

It’s never too late to start saving, and every cent will count when your child goes to university. So, even if you haven’t been putting money away since your kids were born, you can still do so now. As we revealed in a previous post, you have plenty of options. As you great older and your career progresses, you will start to earn more – and you can put a lot more aside for your children.

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Learn about financial aid

Scholarships are not the only way of getting funds for your child’s education. There are plenty of grants and loans that parents can take out, too. You can also consider community colleges if you have one nearby, which will lower your costs by a significant amount.

Don’t rush them

Finally, there is no need for your kids to go straight to university after high school – it’s just pure tradition. There is nothing to stop them from taking a year out, and if they are still living at home while working, you can encourage them to save as much as possible for their education. Not only is it a great life lesson in saving for something you truly want, but universities will take your kid’s experience into account. It may even strengthen their application if it’s a role associated with their college course.


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