Getting On Top Of Your Personal Finances

Have you looked at your bank balance recently and been hit with a sense of sheer panic? You are probably not alone, money worries are unfortunately all too common. It often seems that money just flies out just as quickly as it comes in. 

Living hand-to-mouth is no kind of existence, and if you are worried about spiraling debts and the fact that you may not be able to pay the bills at the end of the month, then it is time to give your finances a review and take back control of them. 

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Examine Your Current Expenditure

You may turn a blind eye to the money that goes out of your bank account each month. Sometimes it is easier to ignore it and hope that it sorts itself out. Sadly, this is not something that is likely to happen, and you need to take control of the situation before it consumes you. 

Sit down with your bank statements and work out all of your regular outgoings. List them all and then prioritize them based on the type of outgoing that it is. High priorities will include things like your rent or mortgage payments. Any debts that you owe should also be high on your agenda. 

Lower down the list should be the things that you could do without. So this may include your subscriptions to the gym, or streaming services like Spotify, or Netflix. 

Then you need to work out what you spend each month on food and transport and create a monthly maximum spend for these areas. 

If you find that your outgoings don’t match up with your income you will need to make cutbacks The low priority luxuries should be the first thing to go. 

Switch Your Services

Very often, you may find that you are paying out too much for some of the services that you have. Things like car insurances can creep up every year, so it is important to shop around for a new quote and change your provider.

Similarly, your utility providers will also tend to up their prices without you really noticing. When it comes to your gas, electric, phone, and broadband bills, you may be able to save yourself some money by shopping around and switching to new providers. You should realistically aim to do this every year to keep on top of the best deals. 

Consolidate All Of Your Debts

If you have multiple debts across a number of different companies, you will be paying out several lots of interest. Having several credit cards and loans can mean that you are constantly juggling your debt and you may not really be reducing the overall size of it. 

You should aim to consolidate all of your debt into one single loan, with an affordable monthly repayment. Work out the shortest length of time that you can affordably pay off all of your debt in, and then make sure that you cancel your credit cards once the balance is cleared by the loan. 

How To Invest In Yourself And Your Future

When it comes to investment, there cannot be any guarantees. If we make this investment in ourselves; however, the ROI is sure to be amazing. 

One of the most important things we can ever do is invest in ourselves and our future. Today we are going to look at a few ways to self invest and see just how it can help. 

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Be Your Own Financial Boss

One of the best ways to invest in yourself is to get that spending under control and get to a point where you are debt-free.

While this may seem like an impossibility, it’s rather achievable with a little will power and brain application. When looking at becoming debt-free, we should be looking at realistic goals, technically a mortgage is a debt, but it’s more of an investment, so don’t include this in your debt-free journey.

Your two aims when it comes to being your financial boss should be, chipping away at your debts and also having enough money put away to achieve your dreams.

To get to this point, you should look at making realistic cutbacks on things you don’t need, and this will free up more cash than you can imagine. You should also make sure you take care of stressful issues like life insurance, payment protection insurance and even a funeral plan. Taking care of these will make sure that your efforts aren’t wasted and even in the worst-case scenario, cremations or funerals are taken care of.

Never Stop Learning

We all go through stages in life where we aren’t as productive as we used to be. This is why it’s essential to take in as much knowledge as humanly possible.

It is also important to remember that you are never too old to learn something new. If there is something you have always wanted to learn to do, it is never too late to get out there and start learning now. 

It is far easier to master a task today as we have a wealth of technology available at our fingertips, and we can quickly find all the information we need with a simple search. Enhancing your current skill set will do so much for your mind and your future. As far as personal investments go, this is one of the best.

Find Solid Investments

As we get older, it’s important to have as many income sources as possible. This is where the importance of investment can be incredible for you.

One of the most popular forms of investment is property and should you have the means to invest, you really should. Finding a property that can be let out and leaving it in the hands of a property management company can be a sound investment.

Making an investment of this magnitude may not be for everybody, but one thing is for sure, the return you get will be one of the best investments you can make for your future.

How to Make Money, Even When You’re Retired

When you retire, that doesn’t mean that the money has to stop flowing. People that plan for retirement are often set for life. But workers that don’t plan for retirement can still hire private equity experts to maximize income after retirement. It’s easy to become versatile with your money-making abilities by exploring multiple opportunities. Check out the list below to see all of the available choices for retirees.

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Photo by Craig Adderley from Pexels

Rent Out Extra Space

You can turn an extra room or an outhouse into profit by renting it out to guests. There are websites that handle setting up visitors so that minor work is required on your side to get the money rolling in. You set the rates, along with any rules for the guests to follow. This setup works best if you have a space that is disconnected from the main house. That way you can maintain the integrity of your own personal space without compromising privacy. Renting out space is done a lot, and depending on the situation, some retirees have rented out their entire homes to go on long vacations.

Rent Out Your Parking Lot

Do you live in a prime location that is only a few miles from the biggest events in the city? Then this option is for you, and can potentially make more than renting out extra space. You rent out parking for less time than renting a room but get much more money as a result. Usually when a big event takes place near a neighborhood, homeowners will block off their parking so that tourists don’t sneak in a free space. Instead of going through that trouble, rent out the spot and get paid to let a tourist do the blocking for you. It is a win-win situation that keeps you from worrying about a stranger taking up a precious parking spot.

Become A Life Coach

The best life coaches are the ones that have years of experience to draw from. That can be you, and the competition isn’t as bad as you think. Since every life coach has a unique perspective, there isn’t a lot of overlap with specialties. A life coach that helps with dieting is completely different from another coach that offers the same set of skills. Consumers are looking for someone with knowledge, and also someone that they can connect with. If that is you, then the marketing takes care of itself after the first customer. You can further enhance your chances of making money from this tip by becoming a certified life coach.

Rent Out Your Home While On Vacation

There are people that pay you to house sit their home. It sounds weird when you first hear it, but is actually a real and legit thing. If you opt for international house sitting, you can visit exotic locations for weeks or months at a time and rent out your home while away. Getting paid to take a vacation is a retiree’s dream, but in this case, it is a reality. Your chances for getting picked are enhanced due to your status as a retiree. Homeowners are more likely to trust someone older and responsible that has put in years of hard work over someone younger and inexperienced. Getting paid to house sit is probably one of the few positions where ageism is reversed.

Find And Sell Older Photos

Your memories are worth more than you think if they have historical significance. It doesn’t need to be a perfect 4k high definition photo to be valuable. Pictures from known world events are always sought after. That moment is in the past, and there are still an unlimited number of pictures and videos in the wild that show the events from completely different angles. This is a lot different than paparazzi photos on popular blogging websites. If you think that your pictures or videos have historical significance, there are plenty of buyers willing to gain exclusive rights to them.

Write Letters The Old Fashioned Way

This is more of a niche way to make money, and requires a bit of background. There are a few buyers around the world that pay for typewritten notes using older equipment. Out of all the choices on the list, this one will probably be the hardest to make money from. You have to own an old typewriter, and you also have to develop a rapport with the client. As small as this industry is, it is one of the most fulfilling to do as a retiree. The work is calming, non-hectic and has a very relaxed schedule. While working at your own pace you discover new people, new stories and a brand-new way to make extra money.

Use Your Crafting Skills

Websites make selling your crafts to the world easy. This is another hobby that can turn into a big money maker without you putting in a lot of effort. The fun thing about crafting is that you can make whatever you want. Your customer base will come to you, and you can choose whether or not to offer customization options. You’re technically in control of a small business where your working hours are ‘whenever you feel like it’. Some people make a few extra bucks a month while others have replaced their entire retirement income. The level of success is all up to your own flexibility and knowledge of customer needs.

Tutor In A Specialized Subject

This is similar to being a life coach except you get to teach a class on something that you’re specialized in. So instead of coaching up a single student on how to get through the tougher parts of life, you are teaching several students a brand-new skill. Once you get a few students, word of mouth will help you get even more money. As a retiree, there are several skills that you can teach based off of personal experience. A manager in training may reach out to you for tips on becoming a manager. A homeowner may need help dealing with the financial burden of a new home. Whatever your personal experience is, turn it into a money-making machine.

Bloggers Are Everywhere

Just because there are countless bloggers online that doesn’t mean there is no money to be made. Blogging will always bring in the advertising bucks, even if you are small time. The most interesting aspect about this money maker is that you gain more attention by being yourself. Make the blog persona, and write about your own personal life experiences. People read blogs for unique takes most of all, so being natural with your personality is a must. Out of all the choices on this list, blogging is the one that takes the most setup. If you’ve got the time, consider it a great carefree option to journal your life online while making some money on the side.

Sell Your Items Online

Over the years, your multiple hours of work weeks allowed you to collect a lot of things that you probably don’t use anymore. Usually a garage jail or drop off at goodwill would take care of these unused items. Retirees that never got around to either option can sell their unused items online for a tidy profit. Selling products online starts out small, and then turns into something special when you get a lot of positive reviews. There are dedicated platforms for this that cover the initial setup and expand your reach well beyond what a simple garage sale would cover. You can sell items internationally all from the comfort of your own home.

Trade Stocks

This is the logical step for a lot of retirees that have already invested in stocks while they were working. Plenty of retirement packages include stocks that turn into a sizable chunk after retirement. When you have all of the time in the world, dabbling in stocks can quickly become overwhelming. Retirees are encouraged to trade on the stock market, but to a certain extent. Don’t treat the market like a casino, and never put in more than you’re willing to lose. Short term and long-term gains will get you a lot of money if you’re smart about the initial investment.

Invest In A Startup Company

There is a low buy in for some startup companies that end up making millions in profit later on. With this type of deal, you can be a hands-off partner that collects a check without doing any of the work. There is room for error in this, so tread lightly. Former jobs can sometimes provide insight into such companies and will already have profiles on them. Depending on your relationship with a current employer, you may have a goldmine right under your nose. The lesson here is to not burn any bridges while you are working so that there is always a potential money-making opportunity down the line. 

Wrap Up

Once you get the ball rolling, passive income is the best residual money you’ll ever make. With enough success, it can even be more lucrative than normal employment. Make a list to get started, and find out what choice works to get the money you deserve.

Sensible Ways Of Owning A Luxury Car

A fancy car is at the top of many people’s wish lists, but the reality is that it will most likely stay there. Cars are a luxury whether you’ve got your dad’s old banger or you’ve invested in a top of the range sports car. But as you most likely need one to get from A to B, it can be difficult to live without.

If you’ve been eyeing up a luxury car recently, the good news is that there are ways of making your car more affordable. Take a look at some sensible suggestions for owning a luxury car that could soon have you drive the car of your dreams in no time.

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Do your research carefully

Buying a car is a big decision, no matter what type you go for. But it’s important that you do your research carefully before you rush into any kind of purchase. You should go to look at different cars, test drive them and see how they feel. The cars you considered luxury might not be as appealing as other cars, and you might find that something more affordable actually fits the bill better. 

There are a lot of things to consider when buying a car, so don’t just go on the brand name or how it looks.

Choose a great finance deal

With the right finance deal, you can make owning a luxury car much more affordable. If you’ve got any kind of deposit to put down, you could make it easier to afford the monthly payments. If you’ve always ruled out an upmarket car because you’re worried about the cost, why not take a second look? There are Audi finance deals that could surprise you, so spend some time doing the maths before you say no. If you shop around the end of the financial quarter, you could even end up with a fantastic bargain or some extras thrown in too!

Lease for short-term affordability

Leasing is becoming more popular for people wanting to own a great car without a long-term financial commitment. While you won’t own the car at the end, the fast depreciation of cars could mean that you’re better off. Consider the pros and cons of leasing versus buying to help you work out if it’s the right move for you.

Go used for a lower price

Luxury doesn’t have to mean new, and if you’ve been looking to upgrade your car, then you should consider used cars. You can get a great deal on a stunning model that could have low mileage and be in excellent condition, making it a fantastic investment. Make sure you read tips on buying used cars to help you with your search so that you can avoid getting ripped off or landed with an ailing vehicle.

Getting a new car is always an exciting time, and with the right approach, a luxury car could soon be yours. Got your sights set on a dream car? Now could be the time to go for it!

Budget Blast: Having Fun With Your Money

The world of finances can often be a very boring one for those who don’t know much about it. Counting beans and making sure you have enough of the stuff is the most important part of it all, though you will also need to make sure that you are saving for the future. This post isn’t about the drab side of your money, though, instead focusing on some ways to have a little bit of fun with it. Before starting, it’s worth considering moderation. These ideas are just for fun, and shouldn’t come before covering your other financial commitments.

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Playing Games

The world of video games has been growing a lot over the last few decades. People across the world are enjoying digital experiences, and there are more games than ever before to sink your teeth into. Of course, though, there are some games which can be connected to your finances. Betting and gambling can be great fun when they are done in moderation, with the thrill of winning being a great way to make you think more about your finances. Tools like premiere league stats for betting can help you out with this, giving you a much better chance of winning the games you play.

Making Investments

While this next area is often seen as extremely serious, making investments can be a great way to have some fun with your cash. There are loads of businesses out there that need help with their general operations. Putting money into their pot will often give you a small chunk of the business, while also giving you an insight into the way they work. Even the process of choosing a company to invest in can be a lot of fun, and will almost feel like a game. Of course, it’s not worth putting serious money into something like this unless you plan to make something out of it, and this will be harder than simply having fun.

Moving Money

There are always loads of different types of bank account available in the modern world, and most people have to use at least one of them in daily life. Not a lot of people realise that these types of services are changing all the time, though. It can make sense to move your money around on a regular basis, choosing accounts based on the interest you’ll get back from them. Of course, though, you have to treat this like a game if you’re going to have fun with it. Applying for an account with a higher rate than you’ve had before will be a high score, while doing research will be the work which gets you there.

Having fun with money isn’t something which a lot of people realise is possible. It makes sense that people worry about this side of life, but this doesn’t mean that you should have to treat it like something which is only serious. Instead, by having fun with this part of your life, you can push yourself to learn more about it, while also making significant improvements in the process.