Magical Penny

We’re all looking to make wise financial investments. Real estate is one of the best options out there if you’re looking to make money easily! Depending on the approach you take, it can provide you with a long term income or a one-off windfall. Either way, it’s quids in if you get involved and play things the right way. Here are just some of the basics to getting involved!

Buy-to-Sell Basics

Your first option when getting involved in real estate is buying to sell. This is simple and straightforward. Basically all you have to do is buy a property at a low price and then sell it for a higher price. The difference between these two prices will be your profit.

Buy-to-Let Basics

An alternative option is buying to let. This is when you buy a property, then rent it out to tenants. The money that the tenants pay in rent will either go towards paying off the mortgage on your behalf, or, if you bought the property outright, will be your profit.

Refurbishing

Of course, encouraging people to buy a property for more than you paid for it can be a little difficult. This is why many people operating in real estate will refurbish or renovate the properties they’re planning on selling or letting. Often, when properties are built, all of the ones built at the same time will be pretty similar. When you bring in Residential Architects, you improve your property or add more desirable features, helping it to stand out from the others in the local marketplace and encouraging buyers to pay a little more for the benefits they’ll get with the higher quality property. If you’re unsure what renovations you might want to carry out, you can always consult a local estate agent. They’ll be able to let you know what viewers have been asking for in the area and you can make sure that your property ticks all of their boxes. Some popular renovations that often add value to a property include loft conversions or extensions, newly fitted kitchens and bathrooms, and garages or conservatories added onto the property. 

Maintenance

Remember, if you’re going to let your property out, you don’t simply move the tenants in and leave them to it. You’re going to have to take on the responsibility of being a good landlord, ensuring that everything is working and rectifying any problems with the property quickly. This will take time, effort and investment. But it’s the least you can do for good tenants who are generating you a profit.

Of course, the journey of buying properties and then selling them on for more or letting them out is going to be pretty complex. You’ll need to invest money, time and effort into the process. But all in all, once you’ve got things going, this is a really simple and effective way of making money!

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One benefit of the Forex market over the stock market is that traders do not require huge amount of capital to trade the forex market.

Because of leverage and day trading, traders who have average amount of capital to risk can effectively trade forex. However, whether the trader succeeds or not depends on a number of factors. Trading capital is one of such factors. In forex trading like in any other form of speculation or investment, you need to have sufficient capital. Trading capital help traders to have sufficient money to allocate for their open positions and as well have sufficient capital to deposit as margin for the positions they open.

The amount of capital needed to trade Forex depends on a number of factors, like the potential rate of return, your risk profile, and the trading strategy you are using. Sure, you can trade Forex with 100,000 USD, and you can as well trade forex with a lower amount like 1,000 USD. However, what is the right amount required to trade?

This article, explores various ways you can decide what amount of capital is appropriate for you to start trading forex effectively. However, the final amount depends on your peculiar situation. It is subjective and can vary from one trader to the other.

What do the Forex brokers offer?

Majorities of US forex brokers offer a very low minimal opening capital requirement, like 100 USD in starting capital.

In a number of instances, in the USA Forex brokers as well let you open a micro or a cent account which lets you trade with only 1 USD. Nevertheless, it is unrealistic or you to desire that you can grow such capital.

What is the recommended amount of money to start Forex trading?

There is no one single answer to the question. Nevertheless, you should concentrate on the amount of return you hope to make.  A good starting point is to examine the risk-free rate of return.

The risk-free rate of return is the interest rate that one makes on an investment when there is no financial risk or loss involved during that time period.

Basically, bonds are example of this particularly those that does not come with risk. Obviously, the disadvantage to risk free investment is that the rate of return is very minimal. In the financial markets, the simple concept is that the more risk you take, the more rewards you can get. Nevertheless, traders ought not to follow the principle blindly; they should follow it with subjectivity in mind.

To be able to establish the right amount of money to start trading forex, your first step is to determine the amount of money required to begin trading Forex, the first step is to evaluate the anticipated rate of return on your investment. The average furies roughly 2% to 5% but 5% is the optimistic estimate on the returns.

However, you must remember, that it ought to be an amount that you can truly risk. A lot of traders make the mistake of trading with their credit cards funds or other money. Doing this would lead to huge financial loss in the end.

The next thing you need to do is to know which leverage is the ideal for you. This is essential because just as leverage can magnify your positions and boost your profits; it can equally result to huge loss.

Concentrating on the lot size can equally be helpful. Basically, the broker will give you the margin requirements when you are trading on leverage. Therefore, you must make sure that you have sufficient amount of money to cover the account margin requirement and as well have extra fund in your account to trade the market.

For instance, if your broker needs 1% of your capital as the margin, this implies that you need to add that 1 % towards the capital requirements, and as well have extra funds to cover the risks of the trade.

Capital situations for Forex day trading

Traders can as well create a lot of situations depending on their capital. For instance, you can follow this simple rule specified in the table below.

Following the rule in the above table you can be able to make a projection of the amount of trades you can make, while as well accounting for the margin requirements for opening and managing a position.

The margin requirements are very vital requirement that you need to put into consideration to help you estimate the real amount of money you require to trade forex. Margin is basically a good faith deposit. The margin is held by the broker as deposit when your trade position is open.

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If you have never heard of Cryptocurrency, it may be because you have not switched on the news over the last three years. Cryptocurrency is massive, and it promises to get bigger. The most famous type of cryptocurrency is BitCoin. When BitCoin has launched around a decade ago, one BitCoin was worth a very tiny fraction of one cent. By 2017, this had skyrocketed to over $19,000. Suddenly early adopters of the currency who had clung onto their initial investments were very rich.

A cryptocurrency is a digital currency that is completely decentralized. This means that it is completely free from any political systems like currencies usually are. All transactions carried out using crypto will be tracked using a ledger system called a Blockchain. Although cryptos are actual currencies that can be used in exchange for goods and services, the trading of cryptocurrencies is very big business and is carried out in a similar way to stocks. 

There are nearly 3000 different types of cryptocurrency available, and this number is rising. If you are considering making investments in crypto, there is a lot to consider.  The major players are BitCoin, Ethereum, and XRP, however, there are plenty of others emerging. Knowing where, how, and when to invest your money is crucial. Here are some tips to get you started. 

Which Exchange To Use

If you have decided that you would like to start trading in cryptocurrency, you will need to find an exchange that you can use. 

In much the same way as stocks and shares are sold on the stock exchange, cryptocurrency is also sold on their own specialist exchanges. 

Here, you will be able to buy or sell all types of crypto including XPR ripple bitcoin currency. You will also have access to a large number of other currencies. 

Do some reading up into the various options that interest you. 

Once you have decided on where you will buy your cryptocurrency, you will then need a wallet.

Choosing A Wallet

The wallet that you will use for your cryptocurrency is not quite the same as the type you would put your loose change in. Instead of your cryptocurrency is stored in your wallet, you will have digital cryptography keys stored in there. There will be one which is public, that is private. 

Again, there are a variety of different wallet options online, so read some reviews before you sign-up for one. 

You might also want to consider using a wallet or account which offers other benefits. For instance, you can these days quite easily find accounts which will allow you to accrue interest over time, like with traditional savings accounts. With ethereum interest accounts, for instance, you will gain money for all of the ethereum coins you hold there each year. That is worth looking into.

Doing Your Research

Choosing the right currency to buy takes research. You really do need to understand what you are putting your money into. Find the currencies that are on the rise. You need to get them early on in their rise, while their price is still low, but when they have the potential for a large rise. 

Know when to divest. Peaks do not last forever. Anyone who held onto their BitCoin after the 2017 peak would have been disappointed when the value started sliding back down to less than half within a couple of years, 

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As our lives become more and more integrated online, we’re starting to do pretty much everything via our phones or laptops. While retail outlets and storefronts still thrive and probably always will, the world of online shopping has grown by leaps and bounds in recent years, with many people doing the bulk of their shopping online, through companies like Amazon and others. Even retail stores have online aspects, with apps to download, services like online delivery or pickup, and more. It’s almost impossible to conduct business without the internet influencing in one way or the other.

For the frugal person, how do you navigate that intersection and still save money? Many people think that shopping online is more expensive than just driving to the store to make a purchase, but that’s actually not true anymore, at least for a large section of retail stores. 

There are many ways to get a great deal while online shopping these days, and in truth, there are plenty of sites and apps that can actually save you money while you complete your online shopping. In many cases it’s as simple as downloading an app or plugging in a code. We’ve outlined a few ways to save money while you shop online below. 

Rewards Programs and Apps

Apps like Fetch Rewards and others actually allow you to scan or type in your receipt for various stores; items you purchase collect various amounts of points, when are then redeemed for gift cards to stores like Amazon. As you collect more and more points, you can save some serious money on future purchases! 

Discount and Voucher Sites

There are an abundance of discount sites on the web for various stores, like LatestDeals.co.uk, and many others, that offer deep discounts and vouchers for the items you buy every day. Whether you’re purchasing a pair of shoes, bedding, a cell phone or getting some printing done, you can find discount codes for every purchase, sometimes saving as much as 50% off or scoring freebies with your purchases. 

Newsletters

Nobody wants a ton of spam in their inbox, but subscribing to the newsletter from a store you frequent is a great idea. Often these companies will notify you of sales ahead of time, send coupons and discounts to your inbox, and even give you free or discounted items on your birthday! Plus, often “subscribers” get additional discounts every time they shop, as a thank you. 

Cash Back Programs

There are both sites, like Rakuten and others, and apps that offer “cash back” every time you shop. If you’re someone who shops online a lot, these can pay off pretty well over time. It’s an easy way to get a chunk of change back for items you were planning to purchase anyway, so why not? 

Store apps

Seems like every company these days has its own app, but for the ones you frequent, it can pay off. Get customized coupons based on what you buy, rewards points, discount and sale items, and more. 

These are just a few ways you can save money while you shop online. Shopping doesn’t have to break the bank. With just a few simple tricks you’ll be saving more than you ever thought possible. 

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If the time has come for you to hire an attorney, barrister, or solicitor, for whatever reason, you need to think about the most important things to look for and take into account. By choosing carefully, you’ll ensure the services you end up receiving do everything you need them to and cover you in all of the right ways. Read on to find out more about this and what you should really look for from a legal professional.

Your Budget and Their Cost

First of all, you should think about how much money you have to spend on an attorney or solicitor. Look at how much they charge and how much you can expect to spend on your case. It’s something that can’t be overlooked with hiring a lawyer.

Their Specialisation

Each and every attorney has their own legal area of specialisation. If you’re going to get the legal counsel you need, it’s vital that you understand this and choose a lawyer who understands the area of law relevant to your situation.

Local Familiarity

They should also be familiar with the situation in your local area. Laws change from state to state and country to country and it’s vital that they know what they’re going into with your case in your local area (Scottish Vs English Law for example). If they don’t confusion can quickly take over.

Their Level of Experience

It’s always preferable if the person you hire has a level of experience that makes you confident that they can help you out and achieve the outcomes that you’re searching for. If they can’t do that, you’re going to run into big problems by the end of the whole process.

Trust and Comfort

Trust and comfort with your lawyer really matter as well. You’re going to be following their advice so you need to trust them to make the right calls and act in your best interests. It’s always a good idea to find someone who you’re comfortable working alongside as well.

Hiring a good attorney or legal professional is essential in a wide range of situations and scenarios. Sometimes, you need that expertise at your disposal and not having it can severely impact your ability to defend yourself in all kinds of situations. Why put yourself in that position when you really don’t need to?

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Amongst the money management tips for students that we’ve looked at before, few will matter as much as finding the room for savings. Effectively, a student’s income is fixed. You get the maintenance loan you get, maybe a bursary or two, and you have to make sure you don’t spend it all too quickly. If you pick up a part-time job, then that will help you even more, but many don’t have the time to hold that down. Here are some of the big savings you should be looking to make while living your uni life.

Plan your food shops out

It’s easy to end up letting your shopping cart get away from you when you’re out grocery shopping. You see one thing you want, leading to another thing you want and while you might be enjoying a feast later, you’ll end up paying much more than you should. Instead, you should plan your shop ahead of time so you know exactly what you have to pick up, and you can ignore all the rest. Meal planning apps like Yummly will help you get a good idea of ingredients you need, and you can budget for meals ahead of time by looking at the online store if you’re shopping at one of the larger chains in the country. This can help you know what you’re going to spend before you spend it, so it’s easier to find wiggle room ahead of time.

Know how to get around for less

How well you are able to save on your transport will depend partially on where you’re going to university. However, many universities are in student cities or have a community that revolves predominantly around the campus. It’s often a better idea not to bring a car unless you’re getting help paying for it. If you’re using public transport such as the train, then you should look at things like the 16-25 railcard. You can pay £30 for a whole year’s worth of travel, cutting the cost of rail travel by a third for each journey. For local, in-town trips, buses are much cheaper than taxis on average, too.

Always, always ask for a student discount

A lot of shops, especially those set up in university cities or around campuses, will offer a student discount. Often, all you need to gain access is to show your student card from the university. This can help pay for clothes, food, and a whole range of services and goods. Furthermore, it’s important to bear in mind that student discounts aren’t always widely advertised. Don’t have any shame about asking upfront whether they have that discount or not. If you live near a shopping centre that you use regularly, you might want to consider looking for a job at one of the shops there. It’s not always the case but you might be able to get a staff discount that applies to a range of businesses in the centre, not just the place you work in.

Look for deals you can get on utilities, as well

Your student card is going to open a whole new world of discounts to you. However, it’s a mistake to think that those discounts are only going to count towards clothes, eating out, club entry, and other frivolous things. It can also apply to some utilities and frequent bills you have to deal with. For instance, student plans from SMARTY and similar mobile sim providers can help you dramatically cut down the costs associated with your phone. You’re not likely to find too much in the way of savings when it comes to gas, electric, and the like, but the less “essential” utilities are more likely to have student deals available.

Never buy books for your course first-hand

Textbooks are expensive. In fact, they might be one of the priciest things you buy during your entire time as a student. It’s important to be aware of which books are truly necessary to buy. Look at both the uni library and your local library to see which of those textbooks they have on offer. If you can’t find them anywhere else, then getting AbeBooks deals for cheap textbooks and using other sites and buy/sell/swap groups can be a lot of help. Just make sure you’re not getting out of date textbooks.

Staying connected

Broadband bills can be pretty hefty when added to the average student budget. When thinking about how to get online, you should look at the different options available from places like Broadband Choices. For instance, you can look at shorter contracts and go for lower download limits to help cut the costs, even if it does limit how you use the internet. Otherwise, if it’s proving too expensive, then you can get all the internet you need free from the uni, often in the library, or you can use the wifi available on the high street, be it in a cafe, pub or otherwise. You might have to buy a cup of coffee to justify sitting there for an hour but that’s not too bad a deal.

Pay your bills

You want to make sure you don’t land in financial hot water? Figure out what your bills are and make sure you pay them before you end up spending all your money on other stuff. Get a good idea of how much you spend on utilities and rent per month and start setting that money aside at the start of the month instead of trying to raise it whenever it’s due. There are plenty of energy-saving tips you can look up to reduce your monthly bills, but it’s more important to ensure that you don’t spend money that should be set aside for them.

Savings aren’t the only way to manage your money, but it’s an important habit to get into. A lot of students end up misusing credit and getting into debt early because they don’t know how to save. Don’t let that happen to you.

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