Money Archives - Page 25 of 32

Running a household: how to manage the bills and budget

We’ve all been there; we look at our statement around payday and there just isn’t enough cash present. We haven’t been spending on luxuries such as holidays and cars but, for some reason, the figures just don’t seem to add up, even though we’ve been keeping an eye on them throughout the month. Of course, it only ever goes in one direction –we’re never pleasantly surprised by the amount of cash in our account, are we? Similarly, if we’re looking to move away from our parents and spread our wings by renting for the first time, we should make time to know that we’re going to be able to afford it.

So we need to budget, to make sure that our home and our children are fed and warm, with a roof over their head. Here’s how to start:

Expenses

You might be surprised by the rate at which some expenses build up. For example, this writer’s household was paying more than £100 in satellite subscription fees alone until recently. It required a brutal analysis and breakdown of what was going on: multi-room usage, broadband, UHD coverage and the odd boxing PPV were all adding up, plus packages for documentary channels that no-one was really watching.

There are several essentials that must be considered. We have to have a roof over our head, and we have to eat and sleep. We have to drive/travel, and we have to have at least some form of entertainment in our lives, otherwise we’re not really living. If we can delineate what we want, and what we need, we can start to crack down on what we can save.

Targets

What would you like to have at the end of the month? What is the minimum, and what would make you comfortable or happy? Take this figure and see if there are any avenues for saving money in your current outgoings. For example, when was the last time you changed (or at least researched) your utility providers? Or planned a shopping budget at the start of the week, cutting down on expensive ready meals/ingredients that are not used? Marrying this with any vouchers/coupons of note might save several pounds a week, and restrict the risk of ‘BOGOFs’ that don’t actually get you anywhere because you never use the free food.

Communication

Running a household should not just be your job when other people in the home can help. Explaining that savings have to be made, and that some of the changes are small enough to be barely noticeable, will save on arguments. Turning off lights when not in the room, and maybe cutting out one takeaway/cinema trip/luxury a week or month, should be acceptable by everyone in the home.

Seasons

Plan ahead to budget for the times of the year when life becomes more expensive; this includes Christmas, Halloween, birthdays, family events such as weddings/christenings, and other events. Knowing these occasions are coming means that you can keep some money in place so that you do not necessarily have to go into further debt. Also, don’t be afraid to say ‘No’ sometimes if you cannot afford something!

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

By Frugaling Leave a Comment

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.