finance

Sep 26 2018

Tips to Earn More Than What You’re Doing Right Now

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Financial crunches may appear all of a sudden. Certain unforeseen circumstances may compel you to land up in a financial crisis. You might need to pay off a utility bill, buy a gift for a loved one or pay off your debt all of a sudden. You may choose to pull out of debt and feel comfortable financially even after putting in a minimum effort from your side. But for this, you’ll need to do an extensive research and gather quality information.

1. Secure a Temporary Job

There are a few temporary agencies that hire and place skilled workers with client organizations that seek short-term assistance. Apart from offering a good pay package, these jobs tend to explore the full potential of an employee who’s prepared to work for full-time.

2. Start Selling All Unused Things

There are a number of channels that enable you to sell off your appliances, electronics, toys, and clothes without any apprehension. You may even consider checking out the local flea market for renting out a hand-picked space and hosting any garage sale if you really wish to remain traditional. You may even check out your opportunities online if you’re going to use your desktop. These days, you’re bound to come across a number of e-commerce sites like Amazon that have categories to get your products listed over the internet.

3. Opt for Babysitting Services

You may opt for babysitting and pet-sitting jobs whenever you’re free. You might be surprised to find some opportunities coming up near your residence. There are a few good websites that will help you catch up with such opportunities from time to time.

4. Work from your Desktop Computer

There are a number of jobs that you may do from home in this digital age. Apart from being a developer, you can work as a professional blogger, tax consultant, online tutor, and virtual assistant. There are also a few survey sites and data entry websites that offer you cash.

5. Choose Any Seasonal Job

A number of swimming pools and amusement parks tend to offer fresh opportunities to summer jobseekers during the warm summer months. A fun-filled environment with flexible working hours is what you get in return. On the contrary, if you’re looking to earn quick cash, you may choose to explore the retail stores during the winter holidays. You may certainly be able to enjoy flexible working hours with a few seasonal positions.

6. Rent out Your Car

This is for those of you that haven’t been using their cars too often. You have this option of renting out your car. You must acquire more knowledge on how much coverage you ought to seek for your vehicle when it’s not going to be used more frequently. You must protect yourself from landing up in situations wherein you need to spend more towards repairs.

7. Participate in Market Surveys

There are a few organizations that pay more to know your opinion. You’ll certainly be able to earn more by participating in their market research programs. Once you start accumulating cash, it will be easier for you to spend more money in a beneficial way. You may check out options like that of the free-rewards account to keep your money. This way, you’ll gain more chances of acquiring extra funds in the future.

By Jonny • Finance • 0 • Tags: finance

Aug 29 2018

Five Personal Finance Habits That Everyone Should Follow

To begin, let’s figure out what a financial habit really means. To put it simply, it’s your attitude towards your own money and how you spend it. Every day we decide whether to spend or save. Not everything we splurge our money on is really necessary. If after a purchase you ask yourself why you need this thing at all, it was probably a bad financial decision. With this being said, a good financial habit is a custom that helps add more money to your bank account every month.

It’s not that difficult to develop good financial habits. The very first thing you need to do is admit that you have bad spending tendencies that will hurt you financially in the long run. These include the inability to control your income and expenses, impulse buying, and delaying payments on bills and credit card until the last minute.

Want to get your finances in order? Here are five useful financial habits that will help save your budget.

1. Keep track of your finances

You need to have a clear idea of how much you earn, taking into account all sources: salary, bonuses, deposit interests, etc. and how much you spend: loans, utilities, food, entertainment, etc. You’re not required any expensive software or special skills to keep such account. All you need is an aspiration to take your life under financial control and a notebook with a pen.

2. Learn new things

As they say, you’re never too old to learn! And what’s really important to your daily life is that you learn about things that help you become financially independent. This can be getting a new profession or developing skills for your current job that will aid in boosting your salary. Be sure to allocate at least 5% of your income for this purpose. Perhaps you will need to take some courses or classes, but in the long run, it will be totally worth it.

3. Don’t make impulsive purchases

Under the influence of flashy advertisement on TV or on the internet, or if we see a sale in a store, sometimes we succumb to the temptation to buy things that we don’t really need. It’s best to wait a few days before parting with your hard-earned money. Sometimes even two days are enough to understand that you can easily do without such a purchase. However, if after a week or two you still crave for this thing, then you may actually need it.

4. Put some money in a saving bank account

It’s a very useful habit to deduct 10-15% from your salary and put it in an interest-bearing deposit. It’s better to do this on a day when you receive your salary, so it’s easier to part with the money. You can also set up an auto transfer from your regular to saving account. If you’re looking for a bank to accommodate your money but don’t have time to visit financial institutions in person, you can easily open bank account online.

5. Pay utility and credit card bills on time.

When you don’t put your financial obligations on the shelf, you will be able to avoid fines and interest. It’s better to pay bills on the payday or set up auto payments on your credit card. If you follow these simple rules, you will easier understand how much money you can spend for the next month.

Financial discipline is a pipe dream for many people. However, there are lots of easy-to-follow financial tips out that that can help you save the big bucks. Try out some of these tips and you’ll see how effortlessly you can boost your bank account.

By Jonny • Finance • 0 • Tags: finance

Jul 7 2018

5 Simple Ways to Improve Your Financial Stability

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It’s quite natural for all of us to pass through situations in life wherein it gets tough to maintain financial stability. Many of you are into a job that’s not worthy of your skill sets and you’re already aware of it. You may try out a few simple things to improve your financial situation.

Consider 5 different ways to become more stable financially:

1) Sell off all unnecessary things

There are a number of unnecessary things that you purchase very often. If you aren’t using them, you may consider selling them at eBay. All of these unwanted items can help you bring in more money. So, you must create a list of such items.

2) Pay off debts faster

Your debts might grow if you’re not paying much attention. Many people tend to opt for a loan with much higher interests; they would often end up applying for another loan to pay off the first one. You may have to take out loans during a financial crisis. But it’s in your best interest to pay them back as soon as possible. It will help you in lowering the rate of interest, which would otherwise keep increasing. You might prefer a few online loans with simple repayment terms over your other options.

3) Cut down your monthly expenses

Have you been able to check out your outstanding bills that are recurring in nature? Although it’s a small payment, you might forget it every time the due date gets nearer. You must read through every item that you’re being billed for and strike off things that aren’t necessary. Now, for this, you’ll need to spend some time and be more attentive.

4) Start saving at the beginning of every month

Get a portion of your earnings transferred to a savings account right at the beginning of every month. By putting money aside, you’ll be left with a small budget to continue for the entire month. This way, you’ll be able to avoid making any impulsive purchase that might lower the amount of savings. Once you get wiser about saving money, your monthly budget will reflect a much smaller amount going towards these Burger Kings and McDonald’s.

5) Start making some passive income

Apart from earning your salary, you may consider some form of passive income that helps you bring extra money. You may check out a few online options like that of writing content or developing your free website if you wish to earn more without investing anything initially. You may even earn an extra amount by way of banner advertising after setting up your YouTube channel. The online outlets will often provide a few opportunities that let you convert your hobbies into a form of passive income.

You can save or make money by utilizing every opportunity that comes your way. You must save money out of every opportunity that comes your way. Apart from that, you must also work towards creating new opportunities that help you pursue your end objectives. You’ll always achieve a few things that you deserve by working hard. You’re bound to experience more of financial stability when you work sincerely and relentlessly.

By Jonny • Finance • 1 • Tags: finance

Mar 5 2018

Are you someone who is on a credit diet?

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Since it’s almost February end, it’s that time of the year when majority of us are striving hard to meet out New Year resolutions which range from curbing intake of carbs and calories, losing weight, restraining intake of alcohol, eliminating all sorts of toxic relations and emerging into being a better person altogether. The list of ‘fresh starts’ will continue and most often it is seen that the resolutions last for just a month and then they fizzle like ever year and we all sleepwalk into our old bad habits. Till the next New Year arrives, we again wish to make the same resolutions and follow the same fate.

The credit gurus advise people on sliding onto a credit diet. One of the most vital things for your well-being is financial health. Majority of the consumers, as per National Credit Regulator’s Credit Bureau Monitor, around 10 million people are credit overweight and they should immediately go on a credit diet. If you thought ‘credit diet’ to be a quick-fix diet, you’re wrong as this is rather a change to lifestyle which requires discipline. For few consumers who are credit overweight, weight loss (Credit) might occur quickly whereas few others may take time.

Factors which lead to unhealthy credit lifestyle of a consumer

What are the few factors which contribute to the unhealthy credit lifestyle of the consumers which lead to so much debt in the nation? Here are few:

• Instant gratification: People nowadays are not ready to for wait for a certain period of time for buying something that they have been dreaming of. Even when they don’t have enough savings, they immediately buy with their credit cards which lead to the vicious cycle of debt.
• Not enough knowledge: People are extremely ignorant about what credit is, what its cost is, the fees, the interest rates, the penalties for non-payment and late payment. This ignorance leads to making poor financial decisions in the future.
• Over indulgence: They tend to take out credit or respond to the advertisements of the credit card companies. Even when they have credit cards already, they have the habit of taking on more cards without any reason.
• Peer pressure: There are many who feel the pressure of matching up with their peers regarding credit maintenance. When their peers take on new line of credit, they too feel the pressure of taking on so that they could brag about them in family or friendly gatherings.
• Unforeseen situations: If you lose a job or there are sudden expenses for which the consumers don’t have any provision, then they take resort to credit.
  Keeping up with the credit diet plan
• Shun unnecessary offers: You will get many ‘pre-approved’ and ‘you qualify for’ offers which if you fall for will lead you to debt. If you don’t want unplanned monthly instalments, don’t fall for such offers.
• Clean your credit record: It’s vital for you to pay off your unsecured debt on time and also in full amount. If you make late payments or you tend to skip payments, this information will reach the credit bureaus and hence will hurt your score.
• Have a debt payment plan: You need to start off with paying back the debt which has the highest interest rate. As the debt is paid off, make sure you close the account.
• Stop binge spending: Just because your friends took a new credit card doesn’t mean that you too have to get more credit without any reason. Stay away from impulsive credit.

Therefore, now that you know the ins and outs of going on a credit diet plan, follow them in order to adjust your lifestyle accordingly and stay on top of your finances.

By Jonny • Finance • 0 • Tags: finance

Feb 14 2018

Coping When Your Earnings Take A Sudden Tumble

The idea that your earnings can take a sudden tumble can be a stressful one, but it’s something that can happen to almost anybody. It can be especially alarming if you don’t already have a firm hold over your finances and have been living paycheck to paycheck. Maybe you’re actually on maternity leave and your drop in income has come from that, or maybe you’re ill, or maybe you’ve simply had to take a pay cut. Whatever the reason, knowing how to cope when this happens to you is crucial.

Here’s how you can cope when your earnings take a sudden tumble:

Start Budgeting ASAP

The first thing you need to do is start budgeting, if this isn’t something you do already. Many people simply make sure they have enough for their bills, and then spend the rest on whatever they like. However, there’s a flaw to this. If you’re not dividing the money you have left into separate pots too, then you might realize you can’t afford something when it’s too late. For example, you should allocate a bit to eating out, a little to toiletries, and so on and so forth. If you spend everything you have left over in your favorite clothes shop, you’re going to be upset when you realize you can’t afford the family meal that has been planned for months the week after. Budgeting is smart and doesn’t mean you have to scrimp and save every single thing you earn.

Find Ways To Destress

Losing earnings can be stressful, so find ways you can destress. Spend more time doing the things you enjoy, take part in some yoga, maybe even meditate. Don’t let this stress get the better of you. Use this time as a learning curve to change your mindset, start talking positively, and your situation might just improve. Even if it doesn’t, you’ll feel happier. Here are a few ways you can feel less stressed:

Deep breathing – try the 7/11 breathing technique.
Yoga.
Meditation.
Baths with salts.
Aromatherapy.

credit

Figure Out Where You Can Start Reducing Your Expenses

There are more than likely ways you can begin reducing your expenses if you look closely enough. How much you reduce can depend on the amount you’re losing out on. For example, when was the last time you looked at new utility bill suppliers? You could be losing money if you haven’t checked for a while. You can work on saving energy in the home, and even downsize your car. The average person tends to spend $2000 on average on eating out per year too, so see if there’s a way you can cut back on this.

See If You’re Entitled To Compensation

If you’re losing income due to an accident that wasn’t your fault, you may be able to claim compensation. However, you’ll need to discuss your circumstances with a professional company like Crossen Kooi Law Firm first. Compensation may not be available for everybody, but it may be available for those who are injured, or those who have unfairly lost their jobs.

Get All The Help You Can

Help is out there, so don’t suffer from this change in lifestyle alone. Get the help that you can. See if you can speak to a financial advisor for free and use the advice that they give you. See if you’re entitled to any government benefits – this can vary depending on where you are in the world. Food banks can be find in a multitude of places, so if you need them, don’t be too proud to go along. They will be able to help you, especially if it’s an emergency.

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Let Your Loved Ones Know What’s Going On

You might be too proud to tell your loved ones what’s going on, but you should find a way to tell them. Most of the time, they will want to help. At the very least, they’ll want to be sure you’re ok. Sometimes, having somebody to talk things through with can make all the difference.

See If There’s A Way You Can Earn Extra Income At Home

The more sources of income you have, the less you have to worry if one of them is struggling or you even lose one. This can take time, but you’ll be glad you did it in the future. Start by selling things you don’t need or use. Walk around your home and imagine that everything has a price tag attached to it. If you haven’t used something in a few months, chances are, you’re safe to sell it!

How about starting something on the side? People can usually do this with nothing but a laptop and the internet these days. Of course you may need to teach yourself a few new skills using YouTube and other resources, but it isn’t impossible to replace the income you’re losing if you’re determined. All you need is a can-do attitude and a willingness to learn.

Avoid Get Rich Schemes At All Costs

When you’re losing income and you’re feeling desperate, it can be tempting to look at get rich quick schemes to make money. However, you should avoid these at all costs. Anything that seems too good to be true probably is. Avoid pyramid schemes. If you’re not sure what they are, research them. Ever noticed how people will brag about how much money they’re earning on social media and then try to recruit people as part of their team, claiming they can earn an uncapped amount of money? Those are the things you need to be wary of. It’s not impossible to make money doing it, but it isn’t as easy as they make out – they’re probably not making as much as they make out either.

Coping when your earnings take a sudden tumble can be tough, but don’t fret. You can get back on your feet when you start using the tips outlined here. Stressing out about your situation will only make things worse. Find somebody to confide in and look after yourself. Thanks for reading!

By Jonny • Finance • 0 • Tags: finance

Jan 1 2018

Best monetary moves that you should make in 2018 – Welcome the New Year wisely

Now that we have just a week left to kick off 2017 and welcome 2018, do you think you’re ready financially? Or are you someone who still wishes to set aside some money and educate yourself on the gross money issues? If answered yes, you’ve clicked on the right post as we’ve rounded up some advice from financial advisors, bankers and brought about few ways in which you can improve your finances.

While some of them will lead to immediate savings, there are some others which can lead to long-term benefits. Nevertheless, each of them can have an impact on your overall financial plan. Check out the tips to take the best monetary moves in 2018.

#1: Do away with the fear of seeking help of a broker

Learning the art of investing money is indeed a great skill and your apprehensions may be based on just the idea that you are not familiar with any idea on investment. Conjuring up thoughts of handling a chunk of your dollars without any such guarantee of it growing is indeed terrifying. The way out is getting educated. A broker is nothing but an intermediary between the investing world and you and he is the one who can help you take the right financial decisions.

#2: Get the right insurance coverage

There are few states where the car insurance costs can rival the mortgage payments. Do you drive an old car? If answered yes you needn’t pay for physical damage coverage as that would practically be wastage of your dollars. If you calculate that the present value of your car is $1000 which is equivalent to the deductible of your insurance policy, it’s not worth taking. When you drop your physical damage coverage, you tend to save money on premiums.

#3: However small, take action towards devising a financial plan

Do monetary worries give you sleepless nights? Are you living from one paycheck to another and you simply can’t move ahead of that? Do you nurture the dream of buying a house but you can never figure out how you could save for the down payment? Well, hope isn’t a plan and as per a financial expert, the antidote to anxiety is action. So, unless you take action, you’re not going to reach your financial goals in 2018.

#4: Know the strategies of filing Social Security

It has been found that the strategy matters as long as claiming benefits of Social Security are concerned. While some start collecting the benefits at the age of 62, others wait till they turn 70 because that is the stage when monthly payments increase by 8% per annum. Hence, it is worth conducting a detailed analysis of your options.

Therefore, now that you know the smart tips for kicking off a successful 2018, what are you waiting for? Start following them word to word and get the best results with your personal finances in the New Year.

By Jonny • Finance • 0 • Tags: finance

Sep 25 2017

Should you finance your car from your dealer or get a loan from the bank?

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Are you someone who is searching for either a used car or a new one? If answered yes, chances are high that you would want to finance your car either from the dealer or from the bank. Majority of the cars are usually financed as the drivers can never afford to pay for the new vehicle with cash out of their pockets. Hey, but before you sign on the papers at the shop of the dealer, you may wish to consider getting better interest rates by financing your car through a credit union or a bank.

Who will provide you with a lower rate?

There’s no such thumb rule which will say that the dealer can always beat the rate offered by your bank or credit union. You just need to take into account the fact that dealer financing is in a way bank financing; the dealer does the legwork of approaching the bank on your behalf. This is where there is no such definite answer to the question as to who will offer you a car loan at a reasonable rate. With that in mind, there are some benefits and pitfalls of selecting a dealer and same is the case with choosing a bank.

Financing through a dealer – Is this the best choice?

Many car buyers who wish to avoid heading towards the bank go through the dealer as this is an easier option. They can finance the car and allow you to drive away on the same day. However that doesn’t mean that the easier way out is always the better way out. The rates of the dealers are marked higher from the rates of the banks and they require being for the dealer to make money. This clearly implies that rates can be higher. Just because dealers send enough business to banks of the entire country, late payment can mean talking to a bank which may not offer you lenient options like your local bank.

However, there are few benefits of dealer financing. One of them is that automakers offer low rates like 0% as their promotion tactics. As this is only true for new cars, it is actually a rate which the banks won’t match.

When is bank the better option?

The bank holds few benefits which you may not get from the dealer. Since the bank is located near you, you have a good relationship and this will certainly mean that you will have an increased likelihood of making the bank work with you in case you fall back on your payments. The main advantage of the bank is that it doesn’t mark its rates and there will be no such middlemen who will be racking up commissions.

So, in case you’re someone who is looking forward to buying a car, you can first go to your bank to see their offer. If you don’t find it feasible, get a quote from your dealer and stick to the one which offers you better terms and conditions.

By Jonny • Finance • 1 • Tags: finance