Archives for June 2017

5 Hacker Tips On How to Control the In and Out of Your Hard Earned Money

Ours is a society so taken by consumerism that nearly all of us have problems keeping our hard earned money bottled up as tight as we would like. With credit cards, it’s ridiculously easy to have your money apparently disappear into thin air after a few swipes. It’s not impossible to take control of a dangerous spending habit. Check out these awesome tips and try some or all of them to start saving more and spending less.

Convert cost to work time

Whenever you feel that irresistible urge to make a purchase, convert the cost of that item to the number of hours you would need to work in order to make that much. For instance, if you earn £4 per hour and the item costs £100, you would need to work for 25 hours to be able pay for it. Now, it’s entirely up to you whether that particular product is worth that much work time.

Please stick to your budget

It’s not easy to make a budget and it’s even harder to stick to it. It’s not that it’s some Herculean task like winning an Olympic medal, but somehow, we make it seem so. Making and sticking to a budget may be hard at first but it will get easier with time.

Use cash more than you use cards

When you spend cash, you are more aware that you are giving your money away and you can see what’s left of it by taking a quick glance into your purse. Try withdrawing half of the week’s budget at the start of the week and tucking your cards away somewhere you can’t reach them as easily. You might need to carry at least one card around in case of an emergency but put it in a card holder separate from your purse or wallet. When you need to make payments, you’ll instinctively reach for your purse instead.

Take advantage of mobile apps

Mobile apps have been saving us from ourselves, like fitness apps, and helping us reach our goals, like productivity apps. If you haven’t tried any apps to help you monitor your cash flow, you should do so now. There many to choose from but you should start with ‘B’, and yes, that’s the name of the app. Whether you want it to stand for banking or budget, you won’t be entirely wrong because the app comes with an interesting array of tools to help you take charge of your finances.

Make a “Thirty Day List”

Whenever you go out shopping or find something you’d really like to get online that you think you can’t live without, put this item in your ‘Thirty Day List’. Thirty days later, if you really still want that item, then perhaps you have enough justification for that purchase. Otherwise, let it go. If you shop online, save items in your cart instead of the list.

Top 3 states to invest into property

By Frugaling Leave a Comment

Investing in real estate is by far one of the best ways to make money, particularly since interest rates are so low. But real estate is never a guaranteed win. You need to make sure you’re investing in the right places. Right now these are the top three states for investing in real estate.

1. Texas

Texas is booming. It has the second largest economy in the country, so there’s always a demand from buyers. Cities like Dallas have huge tech industries and oil is always a reliable income generator for the state. There are no state income taxes and real estate throughout the state is cheap.

The size of the state means that you’ll find some of the lowest property prices in Texas. But that doesn’t mean the properties are bad. They’re of extremely high quality and many of them are new builds. On a side note, did you know that Dripping Springs has the highest property appreciation rate of anywhere in the nation? This is together with huge population increases and job growth rates.

2. Florida

Florida is another state that boasts of an incredible property market. For example, the average property price in Jacksonville is going up by 9% per year. And Florida is a state that’s always going to have a lot of demand.

With great weather and Florida serving as the most popular retirement destination around, Florida can provide you with a great long-term investment option. It also has good job growth rates. However, it doesn’t compare with Texas in this respect. The long-term outlook is not as promising as Texas, but Florida still offers some great investment options.

3. Washington

Big spenders should absolutely consider buying in Washington State. The city of Seattle has grown into one of the most vibrant cities in the nation. That means people want to live there, which is pushing up real estate prices. It should be noted that Seattle is an extremely expensive city to buy property in, and it’s only going up.

This has been triggered by the tax on foreign buyers in Vancouver, Canada, which has cooled the property market. Price increases along the west coast are only going to keep happening, so Washington State can offer a great investment option for those with some extra money in their pockets.

Last Word – But Where Should You Buy?

Texas is by far the leader in the United States right now. Prices are lower than Florida and Washington, and the level of growth is expected to be sustained for much longer. Texas also has perks for residents that you’re not going to find in other parts of the country, such as no state income taxes.

Before you make a purchase, consider the various charges and taxes you’ll need to deal with. Don’t just look at the prices of real estate and potential growth. If the market changes you don’t want to get stuck in a state with high property taxes.

Which state do you believe offers the best real estate investment options?

What Could Logbook Loans Do For You?

By Frugaling Leave a Comment

Are you in debt? Or perhaps just struggling to meet your monthly costs which have grown extensively over the years? The answer is probably yes. Most people today are struggling with their expenses. We live in an expensive world, and there are very few people today who live debt free.

You can get a loan from the bank. You may have already done this or tried to do this. Anyone who has a bank loan will say one thing. They are tired and irritable and feeling negative. It is an exhausting process that is often not a successful process.

Logbook Loans are a sensible way to get a loan and also a stress-free way. You should visit their site, www.logbook-loans.net and look at the benefits of a Logbook Loan. There are many. People who have done it, or are in the middle of it, have had huge success. It is an easy process with little paperwork and very little back and forth. The system is clear and concise and the website, or the underwriter, will explain everything to you. It is a simple and stress-free process.

A logbook loan can be anywhere from UK£500 to UK£50, 000. As long as you have a vehicle, which can be a motor vehicle, a van, a caravan, a motorbike or truck, and as long as you own the vehicle, you qualify for a logbook loan.

The first step is to get your vehicle evaluated. Logbook Loans may want to call in an independent assessor, and all the information is on their site. Once the vehicle has been assessed, you can decide how big a loan you want. You can get up to 60% of your vehicle’s value.

Then, you need to look at the terms and conditions. The questions to ask yourself are:-

How much money do you need to loan?

How much money can you afford to pay back each month?

Do you want a short term or a long term loan?

And what happens if you cannot pay back the money?

Logbook Loads work with an excellent team of underwriters. Once you have completed your application form, an underwriter will be assigned to you. He is now your go-to-person. Any questions or queries you have, you ask him. He, or she, will be quick, will answer immediately and will guide you every step of the way. They will go over all the documentation that you need – ID, proof of residency in the UK, Scotland or Wales, ownership of the car, paperwork of the car and the necessary insurances, evidence of income, bank statements, etc. And they will also go over with you any risks there may be and exactly what is entailed.

When you take out a Logbook Loan, you keep your motor vehicle. You continue to use it. This means that while you are not inconvenienced in any way, you are also responsible for that vehicle. You, therefore, need to maintain the insurance on the vehicle because if you have an accident, it is up to you to fix it.

You need to pay back your loan, on time and as agreed. If you cannot, you need to talk to your underwriter. The worst case scenario, if you do not pay back the money, is that your vehicle gets repossessed or resold. Everything you need to know is on the website which we suggest you visit, www.logbookcalculator.net. Everything is transparent, simple to follow, legit and clear. A logbook loan is the easiest way for you to borrow money without hassle.

Tips for Selling Your Property Abroad

By Frugaling 2 Comments

America is a country of immigrants, many of whom have investments in property. If you fall into that category, or if you are a foreigner fortunate enough to own property in the US, you’ll be interested in the legal ramifications of property ownership. Besides for the logistical issues (you are here and the property is there), selling property is riddled with obstacles. The most important of these are finding reputable professionals to facilitate the sale, tax liability obligations, insurance coverage, and funds transfers, among others.

Always Have an Exit Strategy

Few immigrants to the US are aware that they are 100% liable to the Internal Revenue Service (IRS) when they sell property abroad as a green card holder, or citizen. In other words, the purchase price and the sale price will be considered for all capital gains taxes due to the IRS. Tax attorneys advise impending immigrants to sell their properties and transfer the money before they become green card holders. Since all tax reporting is done in USD, it is especially important to ensure that the highest possible property price is achieved, with the lowest exchange rate and bank fees.

Before you even consider selling a property overseas, it is imperative that you have an exit strategy for the money. If a property has been fully paid off, all the funds are available for transfer abroad. Banks and traditional financial institutions are notorious for the high fees, commissions, and charges they levy on money transfers. It befits clients to take a careful look at a list of recommended money transfer services before adopting the default route.

Purchasing Overseas Property in the United States

Investors seeking viable opportunities abroad will note that the American property market differs considerably from that of Europe, Asia, and Australia. Expatriates should be cognizant of the value-added services available in the US. These are designed to safeguard investments for buyers and sellers alike.

Home Warranty Services offer insurance to anyone selling a home or purchasing a home in the US. These insurance services are expressly designed to take care of contingencies if systems and appliances stop functioning.

As a case in point, California homeowner warranty services include a broad sampling of the best providers of home warranty coverage for the Golden State. The diversity of states like California, Alaska and Texas requires comprehensive home warranty services providers for the best possible coverage.

Steps to Take When Selling a Property Abroad

Once you have decided to relocate from one country to another, there are many contingencies to consider. Packing up and going is a major social, economic, social, and emotional decision.

Tax considerations aside, there are also many legal implications that need to be considered. Who will be responsible for managing your overseas property while you are abroad? Who will facilitate the smooth transfer of ownership? What if the property sale falls through? Do you purchase a new property before the funds transfer has been completed?

These are all important questions that require careful attention. IRS tax requirements do not warrant the reporting of a purchase of a new property – it’s the sale of the property that needs to be reported.

Should You Use Banks Every Step of the Way?

When you are selling your property abroad, you will invariably be dealing with banks, unless you have paid off your property in full and you have a cash buyer. There may be various financial and legal filing requirements when selling a property abroad and repatriating that money back to your new country. In the United States, it is imperative that a full report of foreign bank and financial accounts is made. This is known as the FBAR requirement.

There will be different requirements for the host country and your home country vis-à-vis property sales. But as a property owner, your most pressing concern is your money. How will you get your money out of the country? It is important to go with a reputable money transfer service provider to ensure that you get the maximum amount possible out of the country. Careful research is needed to ensure that you don’t spend thousands of dollars in brokerage fees, exchange rates, hidden charges, and bank commissions.

The IRS Treats Exchange-Rate Gains Unfavorably

The exchange rate is one of the most pressing concerns when selling property abroad. It is known that banks can charge upwards of 3.5% for a one-way transaction, and 7% for a two-way transaction of money from country A to country B, back to country A again. If you cleared $200,000 in profit on the sale of your property, that could be reduced by $7,000 each way courtesy of the banks.

Originating banks and receiving banks also tack on additional charges when funds are transferred internationally. Bear in mind that any exchange-rate related losses that you incur cannot be used as a tax-deductible expense since these are personal expenses. The flipside of the coin is that any exchange-rate gains you make on the sale of your property are taxable – so bear that in mind.

The amount of time that you lived in the foreign property – a primary residence or a secondary residence – also factors into the tax equation. If you lived there for at least 40% of the last 5 years, you can exclude all gains associated with the sale of the principal residence. There are many important aspects to consider when selling your property abroad, and it may behoove you to consult with a tax specialist, real estate professional, and expert money transfer service company before you get started.