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5 Things Impacting Your Long-Term Wealth Goals

May 1st, 2025 Posted in Investment, Money Tips
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It’s always a good idea to have long-term wealth goals, but there are things that will impact your plans! For the most part, there is little you can do other than learn to manage money, investments and wealth. From taxes to poor diversification, here are some to be aware of.

5 Things Impacting Your Long-Term Wealth Goals - coin stack image

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Inflation and the Economy

The career path, income structure and profession you choose all impact your wealth. Most people work long hours for low pay and put their spare money into savings and pensions in the hopes of a good retirement. Buying a home is also a top goal for most individuals and couples. Yet even the best mortgage broker is beholden to the economy and inflation rates. These can substantially impact the long-term value of your wealth without the proper management.

Those Ever Increasing Taxes!

Okay, the big one! Taxes are a nightmare, and it seems like they increase every month. From the food you buy to your savings, grubby government hands are always looking to take as much as they can however they can. When it comes to long-term wealth, there’s not a lot you can do to avoid taxes, not legally, anyway! Capital gains, income and dividend taxes frequently lower your returns. You can get around some of these with ISAs and efficient planning to offset taxes.

Long-Term Wealth Goals are Impacted by Timing

Recent figures suggest that 60% of billionaires inherited their wealth. However, the people who initially earned the money often attribute success in large part to timing it right. For example, Uber’s success comes largely from launching at the height of the smartphone launch with built-in GPS. Planning is essential if you want to build a financial legacy that lasts your lifetime and beyond. However, investment timing is a key strategy for making the most of the markets.

Poor Diversification of Investments

A hidden stash of cash under your bed doesn’t do anything for you. In fact, it loses value because of inflation. That’s why smart people make their money work for them. Investments, ISAs and pensions put money to better use. Of course, there are risks, but the rewards typically beat inflation and poor economies. However, you can’t put all of your green eggs in one basket. A healthy long-term plan includes a diverse portfolio across various types of common assets.

Managing Finances and Debt

The cost of living does nothing to help your short-term situation and can put a massive dent in the plan for long-term wealth. Educating yourself about how finances work, such as credit systems and making informed investment decisions is a key strategy for long-term wealth. However, getting into bad debt can cripple these plans. Reducing debt as soon as you can will help free up more resources you can use for a better quality of life now and sound investments.

Summary

Inflation and economic factors can impact long-term wealth goals. Of course, some would argue that timing is also a critical factor that can make or break your plans. However, you are responsible for your money and what it does. Managing debt and educating yourself is critical.

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7 Ways to Lower the Cost of Cycling Adventures

May 1st, 2025 Posted in Money Tips, motoring
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Looking for a fun, exciting, and affordable holiday? If you already have a quality bike, then a cycling adventure might be just what the doctor ordered. A holiday on two wheels offers the chance to see new areas, boost your mental well-being, and return home with a few stories to tell. In other words, it has virtually everything that someone would want from a trip.

It’s also extremely budget-friendly, or at least it can be. In this post, we’ll look at some handy tips for keeping the cost of your cycling holiday as low as possible.

Photo by Pavel Danilyuk:

Travel With a Buddy

There’s something inspiring about the prospect of taking a long cycling adventure by yourself. But in practice, we think that it’s better to have at least one other person join you. After all, while you might be happy to be by yourself for the first few hours, eventually you’ll begin to realise that the trip would be more fun with a friend by your side.

Plus, it can also help to keep costs as low as possible. You’ll be able to divide food, accommodation, and bike repair kit expenses, for instance. Plus, your friend will also simply provide free entertainment!

Stay Domestic

There’s no shortage of awesome international destinations that are perfect for cycling holidays. But the further you go, the more expensive your trip will become. It’s not just the cost of the flights (and the cost of transporting your bike); you’ll also likely have to spend extra on supplies, food, and accommodation. In the end, the further you go, the more difficult it is to have a firm grasp on costs.

Picking a domestic route will help you to keep costs down. And happily, staying within the UK doesn’t mean you have to settle for a less-than-great cycling holiday. The UK is jam-packed with excellent cycle routes, so pick one of them. Just remember that it’s best to plan your trip for the peak summer months to give yourself the best possible chance of avoiding rain. 

Stay at Campsites

Accommodation is often the biggest travelling-related expense. You can keep them down to a minimum by staying at campsites as you travel. You’ll save even more money if you’re happy to share a two-person tent with your travelling companion since that’ll mean you only need one pitch. Looking for some inspiration? Check out this collection of the best campsites in the UK.

With that said, it’s recommended to stay at a hotel every few nights. This will give you a chance to relax and unwind without the pressure of having to pitch a tent. 

Protect Your Bike

Your bike can’t provide free transport from one place to the next if someone steals it. Investing in one or two excellent locks will help to boost your bike’s security credentials. Remember, however, that even having a quality lock doesn’t guarantee that your bike will be safe. Getting bike insurance from a company like Bikmo will ensure that you’re financially covered should the unthinkable happen. Ultimately, while it’s unlikely that anything will happen to your bike, it’s best to assume that it will — and take the necessary precautions. After all, it’s much easier to prevent a problem than it is to fix it. 

Learn Basic Bike Repairs

You can run into bike issues any moment, but it’s even more likely that it’ll happen when you’re on a cycling adventure when you’ll be putting your bike through its paces. If you do encounter an issue, you’ll likely have two options: walk it to a bike repair shop and pay them to fix it, or take out your repair kit and fix it yourself. The latter option will be much friendlier on your wallet, and can also give you peace of mind that whatever happens, you can handle it. With that said, remember that having a bike repair kit will be of no use if you don’t know how to use it. Look at watching some YouTube tutorials before you set off on your adventure — while you might think that you could watch tutorials on the move, there’s always a chance that you break down in a remote area where there’s no internet service. 

Carry a Stove

Finally, you can keep the costs of your cycling holiday down by carrying a camping stove and preparing your own meals. Simply visit a shop when you’re finished cycling for the day, pick up a few energy-packed tins of food and some bread, and enjoy a hearty meal that you’ve prepared yourself.

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Why is Probate So Complicated?

April 15th, 2025 Posted in Money Tips, Wellbeing
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Financials can get complicated; an example is the probate process. Let’s look at why it’s so complex in the UK. While the legal process of dealing with another person’s estate after they pass away can seem straightforward at first, sharing out the assets and other details can be intricate.

Why is Probate So Complicated? - pen to sign a contract image

Photo by Andrea Piacquadio:

A Lot of Legal Procedures

There is a lot to know, and it is not like you do this all the time. In fact, you have likely not gone through this process before. If you are the executor, the legal word for the person named in the will, or the administrator, if there is no will, you will have responsibilities under a legal framework. For example, you must complete certain forms, such as PA1P or PA1A. Making a mistake on a form can delay the process, so getting help from experts when you apply for probate can ease your stress. You also may need to submit Inheritance Tax forms.

Details Regarding Inheritance Tax

The word taxes is stressful. Now, make it a part of the probate process, and, understandably, it is likely to trigger a headache. Accurately valuing the estate is important, and that can be difficult to do if you’re unsure about investments, pensions, savings, and more. Before probate is granted, these taxes must be paid, and if there is a great deal outstanding, that may involve digging into savings.

Family Arguments about the Will

This already challenging time can bring tension within the family in ways you may not have imagined. For example, children or others may want valuables of the deceased person that they have not been awarded in the will. Along with challenging how assets were distributed, they may also question whether the will is valid. You may even have a family member say that they were supposed to be the executor and challenge you in this role. The result of family fights over inheritances can be a significant delay in the probate process, from a few months to years.

Different Rules Bring Different Situations

The law is not always clear-cut, whether it is regarding finances for probate or anything else. Things can get more complicated if the person who passed had business assets or owned foreign property. They might also have had bank accounts overseas. Given the implications, you may need a solicitor who is knowledgeable in this area to assist, making sure everything is done correctly to move the process along.

Conclusion: Probate Is Easier with Support

By now, it is clear that probate is complex. Even when all rules are followed, it can still be a lengthy process. With a knowledgeable expert as a resource, you can get through it more easily.  That helps reduce stress during an already difficult time. From financial tax to legal requirements, there is a lot to know. And family disputes, inheritance taxes, and overseas assets can make it more complicated. May you have a smoother time ahead after reading the details above, and may you have the time to grieve and heal from the loss of your loved one.

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Surprisingly Rewarding Careers You Probably Never Considered

April 1st, 2025 Posted in Money Tips
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Not everyone dreams of being a doctor, teacher, or lawyer, and that’s completely okay. In fact, there are so many other jobs that people don’t talk about much, even though they can be just as rewarding and exciting.

Some of these careers might not sound interesting at first, but once you learn what they involve, you might change your mind. They often come with great benefits like learning hands-on skills, meeting new people, or helping your community in a big way. If you’re open to new ideas, you might find something that’s a better fit than you ever expected.

Surprisingly Rewarding Careers You Probably Never Considered - female vet with cat image

Photo by Parker Coffman on Unsplash

Working with animals outside of vet clinics

If you love animals but don’t want to become a vet, there are still jobs that let you work with them in fun and meaningful ways. Animal shelters, wildlife parks, and pet grooming services all need people who care and know how to handle animals gently.

Some animal control officers help rescue lost or hurt pets, while marine rescue workers deal with sea life that needs help. These jobs can be tough, but knowing you’ve made a difference for an animal that can’t speak for itself can feel really powerful.

Discover hidden opportunities in the print industry

Most people don’t think of printing as a modern or exciting field, but it actually includes a wide mix of creative and hands-on roles. From operating machines to managing packaging projects or working in design, there’s plenty going on behind the scenes to bring ideas to life.

If you’re curious about this space, Print Jobs is a great job board that helps people find real opportunities in the print industry, from entry-level to experienced roles. It’s a great place to explore if you’re looking for something practical, creative, and often overlooked.

Helping others through trades and repair work

Electricians, plumbers, and mechanics often get overlooked when talking about career paths, but they’re some of the most respected and needed jobs out there. People rely on them for everyday problems that need real skill and fast thinking.

If you’re someone who enjoys solving problems and working with your hands, this kind of career could make you feel proud of what you do. Plus, it usually pays well and doesn’t always require a college degree, which makes it a smart option for a lot of people.

Teaching or supporting students in different ways

You don’t have to be a full-time classroom teacher to help people learn. There are support roles like tutoring, mentoring, and working as a classroom assistant that make a big impact on students.

Some people also help students with special needs or work in after-school programs where learning happens in fun and active ways. If you enjoy helping others succeed, this kind of role might bring more meaning to your day than you’d expect.

Working in nature and the outdoors

Spending your workday outside might sound like a dream, but it’s real for people who work in landscaping, gardening, or conservation. These jobs allow you to stay active, enjoy fresh air, and care for the planet at the same time.

For example, park rangers often protect nature, guide visitors, and help keep public spaces clean and safe. If you like being outside more than inside, these kinds of careers might suit you better than anything behind a desk.

Supporting travel and tourism

You don’t have to be a flight attendant or tour guide to work in travel. Hotels, travel planning, and visitor centres all need people who are friendly and organised.

Some jobs even let you combine travel with work, like cruise ship staff or people who plan events in other countries. If you dream of working abroad, a career in tourism might open doors to places you’ve always wanted to see.

Caring for others through health or community roles

Not every health job involves hospitals or long hours. Many people find joy in community roles like being a care worker, home health aide, or wellness coach, which focus on helping others live better lives.

These jobs often give you a chance to connect with people and make a real difference in someone’s day. If you’re a good listener and enjoy helping others feel supported, this kind of work could be very fulfilling.

Sometimes the most rewarding jobs are the ones that don’t get much attention. When you stay open-minded and explore new options, you might find a career path that surprises you in the best way. There’s more than one way to find success and happiness in your work.

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Savings Slip-Ups: 7 Mistakes People Make With Their Savings

March 9th, 2025 Posted in Money Tips
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Having savings is always handy. But there’s a right way and a wrong way to save. This post takes a look at a few common savings mistakes to avoid.

Savings Slip-Ups: 7 Mistakes People Make With Their Savings - hand putting coin into a piggy bank

Photo by Joslyn Pickens:

Not setting clear savings goals

First, it’s important to consider what you’re saving for. Without a clear savings goal, you’re likely to be more tempted to dip into your savings for all kinds of reasons. Setting strict purposes for your savings accounts can help you to ensure that your money is put to good use. This could include setting aside some savings for emergencies, saving up for a holiday or saving up for a deposit on a house.

Putting it all in one account

Having all your savings in one account is not recommended. Consider setting up savings accounts for different purposes – such as one for emergencies and one for personal luxuries such as a hot tub. This could prevent you from draining your savings to buy a hot tub without leaving anything left for emergencies. You may also find that different savings accounts are better suited to different purposes. 

Saving in too many places

It’s also possible to set up too many different savings accounts for too many different purposes. The more spread out your savings are, the less interest you’ll make on each savings pot. You also won’t be able to contribute as much to each savings account, leading to slower growth of savings. A savings account for emergencies, a savings account for a primary personal goal and a savings account for secondary goals is all you need. 

Settling for a low interest account

A lot of people don’t take the time to shop around when choosing a savings account. Some banks could pay much higher interest than others. It’s important to occasionally compare different banks and make sure that you’re earning as much interest as you can. 

Ignoring withdrawal penalties

Some high interest savings accounts require you to make a compromise – often including withdrawal penalties such as paying you no interest for a month if you take money out or only allowing you to withdraw a certain amount per month. Factor these in when choosing a savings account. 

Not seeking out professional advice

Putting your money into a savings account may not always be the best way to manage your savings. There could be other options to consider like bonds or stocks. By talking to a financial advisor, you can work out the best way to manage your savings based on your investment goals. Try to seek out independent advice rather than talking to someone at a bank. 

Not topping up your savings

It’s important that you’re constantly contributing to your savings – even if it’s just a small amount each month. Too many people who come into money quickly fritter it away without putting anything back into it. Similarly, many people stop saving once they’ve reached a certain goal (such as buying a house) – continuing to save could allow you to chase other goals without having to rely on borrowing (such as home improvements). 

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