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6 Financial Habits Everyone Should Adopt In The New Year

December 21st, 2018 Posted in millionaire mindset, Money Tips
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Let’s say you bump into a millionaire, who maybe didn’t even look like she was one. Yes, she had some nice shoes, good quality clothes, but nothing too fancy. You would probably want to ask her HOW? How did she do it, in such a consumerist society where spending is the new black?

Let me tell you her secret: After every paycheck she got, even when she hadn’t had much, she would always take a part of that money and put it onto her saving’s account. 

You are probably thinking that being financially stable and able to live a comfortable life requires some crazy inheritance, a lot of luck or a very successful family business. But guess what – no matter how much you are earning at the moment, a path to loads of money is paved with good financial habits habits. 

And what a better time to start implementing them, than in the new year? Here are some of them:

Good financial habits for the New Year - loads of money image

1. Automate Your Savings

This one is the best for all of you who struggle to save money. What it does is that it automatically takes a portion of your paycheck into your savings account, or your company’s, famous account 401k. This way you will be sure that the money is being saved, even without you having to struggle to decide whether or not you wanna start saving this month, or some other time. The best part is that after a while you will even forget about it – while the money piles up and leads you to a more secure future.

2. Dust Off Those Bills

Pledge yourself to pay your bills right after you get them. It will eliminate the possibility of bills piling up. If there is a possibility, enroll in autopay. That way you won’t even have to think about your bills. By doing this, it will be clear at the beginning of the month how much money is left for other spendings.

3. 72 Hour Rule

Impulse purchases are probably number one money eaters. A little bit here, a little bit there… And one 5$ thing a day piles up to 18 000$ a year! In order to prevent yourself from spending loads of money on stuff you don’t need (been there, done that), make a rule that each time you want to buy something, you have to wait 72 hours before actually purchasing it. That way you will have time to think about whether you truly need it, or you just want to have it. Adopt this good financial habit and you will get surprised how many times you will decide to keep the money in your pocket.

4. Buy With Cash, Instead Of Credit Cards

It’s easy to overspend (even the money you don’t even have) when all you have to do is to slide your credit card out of your pocket. With carrying the cash instead, you will have a real feeling of how much money you spend, without even thinking about credit card debt. But if you are one of those who has 5 credit cards and quite a debt in each of them, you may wanna consider debt consolidation loan, which will help you pay off all debts. It combines all debts into a single and larger piece of debt, usually with better payoff terms.

5. Live Like You Have Less, Not More

Especially with credit cards and all those different loans, it is easy to fall into a trap of spending like we have more than we actually do. For you to start building your financially secure future, condition number one is to spend less than you earn. Which is pretty logical and obvious calculation when you think about it. As your investments grow, after a while you will see money piling up like crazy.

6. Page A Day, Keeps Debts Away

If you want to become successful in managing your finances, you want to start reading a book or few on the subject and get a piece of advice from people who have already mastered the art of finances. Why would you play trial and error, when there is already plenty of knowledge out there? You just have to take advantage of it. Pledge to read at least a page a day in the new year, and you will see how easily hooked you will get.

Changing behavior is hard, and don’t expect a change to come overnight. Be persistent and stick with it. Start your new year with good financial habits, and just watch your finances grow. There is a big chance that one day you will be the lady from the beginning of the story.

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Can You Really Earn Money Playing Video Games?

December 19th, 2018 Posted in Entrepreneurship, Jobs and Careers
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For those that love gaming, the idea of turning this passion into an income may sound too good to be true. However, the reality is that you can earn money playing video games. In fact, there are multiple ways to make money from gaming – some of which can be incredibly lucrative.

can you really make money playing video games? - gamer image

Unfortunately, none of these methods are particularly easy. In fact, some of these methods may require you to be particularly dedicated to the point of being utterly obsessed. If you’re a hardcore gamer who would love to make money from this hobby, here are just a few ways in which you could possibly turn gaming into an income.  

Play online casino games

It’s possible to earn money playing online casino games. Of course, this is a form of gambling, which means any income will always be down to chance. However, whilst you can’t always be certain of making money this way, you can use strategy to minimise your losses and maximise your earnings.

A great way to maximise earnings is to rely only on free games. Sites such as Slotathon.com can help you to find free slot games that don’t require you to pay to sign up. You should also look out for sites that offer free bets. These free bets are essentially free money to play with, meaning that if you lose you’ll have lost none of your own money, but if you win you’ll earn money without having invested anything.

As for minimising losses, it’s important to always have a spending limit when playing these games. By only ever betting what you can afford to lose, you’ll stay happy and not feel you’ve wasted money.

Earn cash prizes through tournaments

It’s also possible to make money by taking part in gaming tournaments. Many tournaments award cash prizes to players that come first, second and third. In the case of the biggest tournaments, the cash prizes can be as much as millions.

To win a tournament, you obviously have to be a very skilled player, which is where the hard bit comes in. If you’re not regularly topping leaderboards when playing online and playing with friends, you’re probably not going to stand much chance in a tournament. However, if you do consider yourself a pro and have been looking for a new challenge, entering a tournament could be worthwhile.

Visit sites such as checkmategaming.com to learn more about these tournaments. Don’t forget to also do your local research. You could even consider putting on a small local tournament yourself and asking everyone entering to pay a small amount to go into the winnings pot.

Record Youtube walkthroughs

Gaming walkthroughs on Youtube are hugely popular – such videos contain recorded footage of a gamer playing a game and narrating over the top. The likes of PewDiePie have become multi-millionaires through these types of videos. How exactly? By allowing ads to be shown on your videos you can make money through ad revenue – the more views you get, the more ads will be displayed and therefore the more income for you.

Because there’s a lot of competition out there, creating a hit gaming walkthrough series on Youtube isn’t easy. People watch these videos either for advice or entertainment, so make sure that your videos serve either of both of these purposes. Some of the ingredients that will help include a good quality microphone, an engaging personality and the ability to record and edit videos well. This guide at AlloySeven.TV offers more advice on how to set up a successful gaming channel on Youtube.

Get paid to review video games

You can also play video games for a living by becoming a gaming critic. As a critic, you must play video games and then write up reviews. The most well-paid critics tend to work for major publications, however it’s possible to set up your own successful blog and make money off of ad revenue.

To make an income this way, you need to be a good writer. Being able to analyse and pick apart games in an entertaining way will help you to secure gigs at major publications. Most critics have to work their way up by writing other journalistic pieces for other smaller blogs and publications first, helping to build up a portfolio that gives them credibility. You could argue that these people are being paid to write and not simply play video games, however playing games is a big part of it – you can’t review a game without playing it.

Those eager to break into this career field should read this guide at TiredOldHack.com. As with the other ways to turn gaming into a career, this can be highly competitive.

Get into video games testing

It’s also possible to make money by testing video games. Gaming developers often hire testers to ensure that the gameplay is smooth, helping to spot any bugs or glitches and iron them out. This could be a great way to play video games whilst making a regular wage.

Because testers must deliberately try to break the game in order to find faults, a level of problem solving is needed as well as a basic knowledge of programming in many cases. It could be worth taking a course in coding or having some kind of qualifications in maths and science to show that you have an analytical brain.

Testing vacancies don’t come up very often – rather than simply replying to the few ads you can find, try contacting companies directly even if they’re not advertising jobs. It’s this proactiveness that often gets people a job in testing.

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Ways you can fund your new business venture in retirement

December 18th, 2018 Posted in Entrepreneurship
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Retirement doesn’t mean stopping.

In fact, many retirees are considering continuing working after they retire, and this may well include the formation of a business. It’s a challenge, but to some it is preferable to spending days relaxing.

This article isn’t about whether or not a retiree should start a business. Instead, we’re going to focus on how you can gain funds to help start a business in retirement.

This is probably one of the ‘fears’ that prevents people in this stage in their life from taking the plunge. However, it is possible to get some money in place to start and maintain a profitable business after retirement.

We’ll take a look at several of them.

Ways you can fund your new business venture in retirement

Downsizing

A relatively new term, ‘downsizing’ allows you to release money in the sale of your property. Normally, downsizing means moving to a new, smaller property, and enjoying the equity you’ve released alongside that.

This is an interesting situation, because downsizing does indeed release funds through selling. However, you obviously have to live somewhere, so much of the downsizing profit may be spent on living expenses.

There may, however, be some money there afterwards that can be spent on pulling together your business. It is again a good idea to sit with a finance professional who will be able to tell you, realistically, what you can expect to gain from downsizing, and whether the amount of money will cover business expenses.

Spending the kids inheritance

This has become a growing trend in recent years. Rather than spend money on the future of their children,some retirees opt instead to spend it on themselves.

This has become more popular as people live longer. Money that has been saved up or has reaped returns on investment is simply used by the parents for other purchases. And these purchases are all about the parents, not the kids.

Using this money to start up a business is perhaps something new. The whole point of spending the inheritance is to enable a better standard of life. Many retirees take that money and go on a long holiday, for example. However, it is possible to use it to fund a business.

Whether that fits in well with a retiree’s own views on what they want from life is up to them. But if it is a large sum (and most parents now save up a lot for their future generations) it can be used very effectively to develop a business. For example, it is accepted wisdom that you shouldn’t start a business without ‘buffer money’. Buffer money is money you have ready for the first six months of the business.

Business can be challenging. If you are able to gather a good sum of money to protect against the ups and downs of business for those vital first few months, you’re in a great position. Of course, this option is appealing because you have more control over how the money is spent. If you just want to use a small amount of the money to fund one key aspect of starting a business, that is entirely up to you.

Equity release

Equity release is a situation where the borrower can take out an equity release contract, which releases money that is equal to up to 60% of the value of your home.

This can mean you can take on a potentially large amount of money very quickly. There are a couple of options in equity release that you can take advantage of. This is encapsulated in two products available to you, the borrower:

  • The lifetime mortgage. This allows you to take money out against the value of the property.You have to be at least 55 years old to do this. One key aspect that makes this option an attractive one is the option to pay off all the interest, some or even none of the interest before the mortgage ceases. It ceases when you have to enter care, or you die. Another key aspect is you not having to take out the full amount. And you only pay interest on the amount you withdraw.
  • The home reversion. This is a little more complicated than the lifetime mortgage. You can sell all or part of your property to a specialist home reversion company. You no longer own that whole or part of the property. However, you do have the right to remain in the property until you die or move onto long-term care.

If your business is dynamic

By ‘dynamic’ we mean looking like it’s going to grow quickly. If it is looking this way, then consider seeking investment.Bear in mind that not all investment runs into the hundreds of thousands. Some investors can pump money into a business for a small slice of profits, and they are much more likely to do this if you have an idea for a business that looks like it will grow quickly.

It’s worth considering seeking investment,simply because it allows you to have that early head start, without having to find money from more traditional lenders. Obviously it relies upon you having a strong idea that will make money for investors. But if you do, the power investment can bring is considerable.

Your choice

Many retirees look for funding from banks and their home value. Whatever you do, bear in mind that for the first six months of your business, you will have to work incredibly hard to make sure money is handled wisely, and your business gets your complete focus. Using some of the methods in this article to gain finance can help you on your way to running your ideal business in retirement.

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3 Rules For Investing In Property Abroad

December 17th, 2018 Posted in Investment, Property Investment
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When you’re looking for investment options for your savings, you’ve probably thought about real estate. Property prices are on the rise and there are a lot of different ways that you can take advantage of that to make good money investing in property. One of the best ways to invest in real estate is to buy a property abroad. You’ve got more options for renting it out and you can make better money letting it for shorter periods to people when they’re travelling. The prices tend to be a lot lower as well so the initial investment isn’t anywhere near as high. But there are a whole new set of challenges involved with real estate investment in another country so you’ve got to be careful. If you’re considering it, here are some basic rules that you need to follow when investing in property abroad

3 Rules For Investing In Property Abroad - beach property image

Source

Be Careful With Up And Coming Locations

A lot of people try to get a good deal by finding somewhere that is an up and coming location where property prices are still low. They buy a property now while it’s cheap and in a few years, when the area turns into a tourist hotspot, the value of that property shoots right up and they make loads of money renting the place out. That’s a great strategy, as long as it actually works. Often, there are a lot of rumours about a place that turn out to be nothing more than that. If you buy a property based on these rumours, you could end up stuck with a house that nobody will rent or buy and the value might even go down. When you’re looking at properties for sale, it’s best to go for well established areas that are already popular. You’ll pay more for the property but you can massively reduce the risks involved.

Don’t Forget About Taxes

Every country has their own rules about taxation when you’re buying a property so don’t forget to do your research. You might have to pay stamp duty or some equivalent as well as VAT on the property and the rates might be a lot higher than they are at home. If you don’t factor this in when you’re pricing up properties, you might be in for a nasty shock when you actually come to buy the place and all of the taxes are added on top.

Rental Laws

There are different laws about renting out a property in different countries as well. In some places, only certain properties can legally be rented out. For example, there has been a lot of trouble in New York recently with Airbnb because there are strict regulations about the type of building that can be used for short term lets. If you don’t check the laws before you purchase a property, you might end up with a place that you can’t legally put tenants in.

There are a lot of tricky legal considerations to deal with when you’re investing in property abroad and it can cause you a lot of trouble if you get it wrong so always do your research properly before you make any decisions.

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Why do I need Anti-virus and Anti-spyware software?

December 12th, 2018 Posted in Entrepreneurship, Money Tips
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This may seem like a question that is asked very commonly in recent years and rightfully so. Security software has become more vital than ever especially for businesses when trying to protect sensitive information. There have been significant increases in cases of cyber-attacks in the form of viruses, phishing, spying and many more. This has led to a heavier focus on endpoint protection platforms, which are a set of security tools used to provide protection to all endpoint devices connected to a certain network.

Anti-virus software is essential for protection against viruses, which come in many forms including malware and spyware. This can give cybercriminals the capability to cause damage on devices, obtain sensitive information and commit fraud. Antivirus does not cover every single cyberattack, but it is still very important for shutting out potential intruders.

Anti-virus software does have to be bought, which is why it is incredibly important to do your research prior and find a program that is well known and generally considered to be very reliable. This is important as some viruses disguise themselves as anti-virus software and end up exploiting vulnerability in your device which can provide a gateway to potentially everlasting attacks.

Anti-spyware software is used for protection against spyware. Spyware is a specific type of malicious software that infects your device, commonly thought to be one of the most dangerous, allowing the attacker to be able to spy on your activity on said device. This means that they can potentially see everything that you are doing, including bank transactions and form submissions that require sensitive information.

The worst thing about spyware is that you are usually unable to detect whether this software is installed into your computer as it operates in hidden mode. The only slight signs that you could maybe pick up on is that the speed of the device may decrease sufficiently, but bad connection could make this a hard thing to tell. For more information on mobile security solutions, check out this infographic about everything you need to know regarding cyber attacks.

Why do I need Anti-virus and Anti-spyware software? Infographic
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