Magical Penny

Are you thinking about investing in a new property? If so, then it’s important to have a game plan to make sure that you understand how to get the most from this type of investment. There are lots of different paths that you can take here. The right option will depend on the type of experience that you want to have on the property market as well as the current market situation. 

Do It Up And Sell It On

First, you could consider improving the property overtime and ensuring that it is going to attract the right attention on the market. This can include purchasing a fixing upper at a low price and then taking steps to improve it. The type of improvements that you make can range from a new lick of paint to the right furniture. If you’re not sure what type of changes are going to make your property stand out, then you might want to consider using a virtual staging service. You can find more information about virtual staging online including how it could add to the value of your property. 

Rent It Out 

Another option that you have got is to rent out the property that you have purchased. If you are someone who is looking for a more steady and stable income from your investment, rather than one large lump sum, then renting it out might be the best option that you have got. Becoming a landlord isn’t high on everyone’s to do list, but this doesn’t mean that it won’t work for you. 

Renting out a property just means that you need to find the right price to put it on the market, and then find the right tenants to live there. The great thing about this is that you are able to always get some kind of money from this property for years to come.

Live There Yourself

You could also think about living in the home yourself. This might be useful if you have other property investments that you are interested in. Alternatively, you could think about selling the home that you are currently living in. This can be the right choice if you think that the home in question is going to sell for a lot of money and has great potential either due to the location or the design of the home. 

Keep It Until The Prices Rise

The final thing that we’re going to say is that you can keep the property until the house prices are in better condition. You don’t want to sell your property for a loss, so you might just want to keep it for a little while, waiting until the prices are back up to what you need them to be so that you can make a profit on the home.

We hope this helps you understand some of the key options that you can consider when you explore a new property investment. By looking at the right opportunities, you can make sure that property investments are as profitable as possible. 

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If you want to own your home, for most people, that means taking out a portage. This is likely to be the biggest debt you have in your whole life, and you can be paying it off for as many as 30 years.

Of course, a mortgage is not like most other debts in that you will own your own home once the payments are complete, and that means you will (hopefully) have a significant asset at your disposal. But that doesn’t mean that the monthly cost of a mortgage is always easy to manage.

Not only that, but if you could save money on your mortgage, then it would obviously be sensible to do so because then you would have more cash in your bank account that you could use to build up savings for the future or have a better quality of life right now.

With that being the case, let’s look at a few things you can do to save money on your mortgage right now:

1. Find the best deal in the first place

This will not apply to anyone who already has a mortgage, but if you are just getting ready to buy your first house, then the best thing you can do for your finances is to shop around and ensure that you get the best possible terms for your mortgage that you can.

Whether you are applying for a standard mortgage or a bad credit mortgage, there will be a number of lenders to choose from, in most cases at least, and that means you need to look very carefully at the terms of each to ensure you choose the mortgage product that is most suitable for you, and which charges the smallest APR possible. If you start out right, then it will be much easier to manage your mortgage over the long term too.

2. Downsize

If you do already have a mortgage, but you are looking to make savings, then one of the most significant ways to do so is to simply downsize to a smaller home in a more affordable area. 

Obviously, this is not a solution that will be appropriate in every case or appeal to everyone, but for older people who may not need as much space as they used to because the kids have flown the nest, for example, this can be one of the most effective ways to save money on your mortgage. 

Some people will even be able to buy mortgage free should they sell up and move to s smaller palace. Depending on how much equity they hold, so it is a solution that should not be discounted out of hand if you are looking to cut your monthly costs and live more comfortably.

3. Consider a fixed-rate mortgage

With the way things are going right now, mortgages are probably only going to get more expensive, so if you are on a standard variable rate that is linked to inflation, it may well be worth your while to fix your mortgage contract for a set period of time.

Of course, when it comes to inflation, there are no guarantees, so you should talk it over with a financial advisor before you make any financial decisions, but fixed rates can often save you several hundred pounds each year, which would be better used for savings and home improvements, so it is definitely worth looking into the possibility of a fixed rate mortgage product.

4. Buy separate home insurance

Many people have their home insurance bundled together with their mortgage, and often this is a much more expensive option than simply having a separate home insurance product.

Of course, it is really important that you do have home insurance because should your home be damaged or you be broken into, you would otherwise have to pay for any repairs and replacements out of your own pockets, but by decoupling your home insurance from your mortgage, there are big savings to be had.

Use a home insurance price comparison site to see what other op[tikons are available to you and how they compare to your current insurance, and if the difference is less, make a change.

You may also be able to save money by checking that the level of home insurance you have bundled with your mortgage is appropriate to your needs. If the coverage level is too high, you may be able to negotiate a lower price for a lower level of coverage, but make sure you are covered to a high enough level that you will not have to pay out of pocket should anything go wrong because that is a huge false economy! 

5. Look at daily interest mortgages

Many people are wary of daily interest mortgages because it would seem like paying interest that is charged daily rather than annually would cost you more in the long term, but that is a misunderstanding of how interest works, and actually, when you are charged daily, you are pretty much always going to end up paying less altogether because the interest you pay daily will be automatically applied to your mortgage account, which means less interest will accrue. Over time, this can make a huge difference to the amount of interest you pay over the years.

6. Overpay

It is not always possible to find extra money to pay more than you are obligated to off your mortgage, but if you are able to do so, it will save you money on the cost of owning your home over the years. 

You see, when you overpay, your mortgage will be finished much faster, which means you will pay much less interest than you otherwise might have, although there are some exceptions where you will need to pay an additional lump sum if you pay your mortgage off early, and because overpayments will be applied to your account each month before interest is calculated, your monthly interest costs are likely to be smaller too, which means your payments will also be smaller as well.

7. Extend your terms

If you are struggling right now, and you are looking for ways to cut your costs each month, then extending your mortgage terms so that you pay it off over a larger number of years is an option.

This will mean that your monthly payments reduce, but of course, you will end up paying more in interest over the years, so it is probably only something you should consider doing if you are really strapped for cash and simply can’t afford to easily keep up with the mortgage payments right now. If you have any other options, then extending your term probably isn’t in your best long-term interests.

8. Check out discount deals

Many people do not realize that you can get discount deals on mortgages, but many mortgage providers will offer incentives to bring customers on board. For example, some building societies will offer lower prices to people who live nearby and some companies will offer discounts on mortgage payments for the first few months, increasing afterwards, which can be helpful if you are in a tough financial spot right now. Just make sure that you always check the fine print so that you know what you are getting into, and you are sure that you are getting a good deal and saving money because it is not always as obvious as it should be.

9. Remortgage

Remortgaging is probably the most common way that people find cheaper deals on their mortgages. If you are being charged an excessive amount of interest, chances are there is another company who will be willing to give you a mortgage on better terms, so taking the time to compare prices and find a lender who is likely to take you on could be a smart move.

Of course, if you are going to remortgage, you will need to ensure that it is the right thing to do, which is why it is never a bad idea to talk to an independent financial adviser who will be able to take a look at your finances and see what you are doing well and what could be improved on. Often, you might not need to remortgage at all if you make changes to various other aspects of your financial life instead.

As you can see, it really is possible to lower your mortgage burden in a number of ways, depending on your current needs; you just have to be sensible, not end up settling for the status quo, and always ready to make a change when it would be prudent to do so even if it is more of a hassle to do so in the moment. This might seem like a whole lot of effort to go to, but if it means you can lower your mortgage payments and live a more comfortable lifestyle with a larger financial cushion, then I think you will agree, that it will be totally worth it.

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It takes a lot of effort to run a small company. Many factors must be considered, including promotion, sales, administration, and finances. Especially when it comes to money, it can be a hassle to keep track of everything. However, if you follow these guidelines, you can make your small business prosperous. 

Developing a method for monitoring your company’s financial status is one of the most essential steps you can take for your company, so make sure you do it. First and foremost, you have to be aware of both the origin and destination of your financial resources. Create a basic accounting system, such as a spreadsheet. You should then keep a monthly record of your earnings and expenditures. You can get a decent picture of where your money stands. In exchange, you’ll be able to keep better tabs on your finances and make more informed decisions.

Set aside tax money; those who work for themselves must do so on their own dime. Some people may be taken aback by this, given that taxes are typically withheld from salary. Be sure to put some money away every month to pay your taxes. Taking this precaution can help you save money by preventing any unplanned costs.

Maintain a wall between your private and business funds. You’ll be able to keep better tabs on your expenditures and plan ahead with this system in place. Start using a separate bank account for your company’s transactions. Doing so will help you keep your business and personal funds separate.

Infographic Design By STL Training

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If you’ve just got a new car and want it to feel more like it’s your own, then getting some car mods can be a great way to go about it. However, oftentimes these car mods can be expensive and only really affordable to those who are really enthusiastic about it. Not everyone wants to spend a fortune on their car, and that’s fine – there are still plenty of car mods you can consider to give it that personal touch, without emptying your pockets!

Personal plates

When it comes to expressing yourself through your vehicle, there are no real rules as long as you stay within what’s road legal. Your license plate is completely fine to have personalized, so long as it’s properly registered and done correctly. Sure, there are a few restrictions behind what you can have displayed on your reg plates, but it can be a nice and cheap way to make your car a little bit more unique – while saying something a little more about yourself. It’s not the flashiest car mod of all time, but they’re an easy way to make your car feel more like you, without ruining its look.

Seat covers

If you’ve bought a used car, you might be concerned about the interior. Unless it’s been meticulously cared for, you can expect any number of scratches, tears, or other forms of damage to the upholstery, and it’s generally not a great look. If you’re trying to take pride in your car, you can solve that issue with some tasteful seat covers! There are plenty of different designs to choose from, so if you’ve always wanted that leather look for your seats, now’s your time to get it. 

Air-fresheners

It doesn’t really get simpler than keeping an air freshener in your car, and while it doesn’t do anything to the look – it will help to give it a new and more pleasant smell. Used cars will often smell like their previous owners, but you can quickly handle that by keeping air fresheners in your car, for an incredibly small cost!

Phone/Smart device holder

One of the bigger issues with older car models is that you lack the modern features that you might expect from a car that was made recently. If you’re often relying on a navigation system, then you’re going to have a hard time with an older car model. There’s no infotainment, or built-in navigation system, so a phone holder can go a long way for you. Simply stick it to your dashboard, and it will hold your phone while it displays the directions of your journey!

Steering wheel cover

Some might say it’s cheesy, but it really depends on the car that you’re putting it in. Not only that, but steering wheels come in all different colors and designs, so you have your pick of what you feel will match your car best. It protects the steering wheel underneath, and it can make your car just a little bit more interesting, for a very low cost.

Custom floor mats

What better way to match your new steering wheel cover than some custom floor mats? It’s important to consider that poorly made floor mats can be dangerous, especially if you’ve installed them wrong – or they don’t fit the car properly. These floor mats need to be unobtrusive so that they don’t block the pedals while you’re driving. Having pedals get stuck can easily cause an accident, so make sure you’ve got ones that are just right for your car.

Not only are they great for decoration, but the floor of your car gets a lot of wear and tear, so it’s great to have something to cover it up and prevent long-term damage. No more worrying about your car after a rainy day, or if you’ve got mud on your boots. That can’t always be avoided, and these mats are the perfect solution.

A custom shift knob

While they’re not the most popular car mod to make anymore, these can be a fun way to personalize the inside of your car. It can be anything that fits into your hand, but make sure you’re comfortable with it before you take it out for a drive. Something that has a lot of harsh edges can be sharp and may take away from your confidence when shifting gears. If you’re not looking for a whole new knob, there are covers, too. A cover can add just as much personality but at a fraction of the cost.

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Housing is increasing in price and many of us are beginning to review our current housing situations. Is the type of housing you’ve opted for at the moment right for you, or could something else prove more profitable or beneficial to you in the long run? Let’s take a moment to look through a few different options!

Renting

The first option that you will have available to you is renting. When you rent a house, you’ll essentially enter a contract with a landlord – most often the owner of the house. You will agree to pay a certain amount of rent, usually once a month on an agreed date. There are pros and cons that come with this type of housing. Let’s start with the pros. The pros of renting are that you aren’t tied into a property. Sure, you’ll have a contract, but these only usually last six months or a year. If you want to move once you’ve reached the end of your contract, you can simply pack up and go. You don’t have to worry about selling or other drawn out processes. Now, to the cons. The cons that come with renting largely revolve around the fact that you’re basically paying someone’s mortgage on their behalf. You’re paying for the house but they will ultimately keep it as their own asset. There’s also less stability in renting than having your own home. The landlord can decide to sell up or not renew your contract as soon as your contract ends. This means you can feel settled and simply have to find somewhere else to live without really wanting to.

Shared Ownership

Next up, shared ownership. When you opt into shared ownership, you will generally choose to buy part of a house. It’s a situation that feels like a hybrid between buying and renting. You will buy part of the property, while someone else, usually a housing company, will buy the rest. This makes getting a mortgage easier, as you’ll be asking for a smaller total sum. You get to pay your mortgage each month, knowing your investing in an asset you can sell. You will also only need a small deposit. You do, however, tend to have to contribute some rent to the party buying the rest of the property. A Shared Ownership Calculator can help you to determine whether this could be an affordable option for you.

Buying

The final option is buying. This tends to be best once you’re ready to settle down and live in the same place for a prolonged period of time. You’ll have to save a substantial deposit, but over time you will eventually buy the house outright and have a good asset in your name.

As you can see, there are a few options to choose from when it comes to finding the right type of housing to meet your needs. Hopefully, some of the guidance above should help you to find the best for you!

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Have you been thinking a lot about money lately? A lot of people think about this on a regular basis, but these same people don’t always make the right moves to try and sort out their financial future. The thing that you need to know is that there are certain things that you should never take your eye off of when it comes to money to avoid issues in the future. In this article, we’re going to be talking about what some of them are, so keep reading down below if you would like to find out more.

Savings

First, it’s important that you are looking at your savings. Savings are essential for your future, and if you don’t have any then you might find yourself in a bit of a tricky situation down the line. Savings are good for a number of reasons, one of which being the fact that you have something to fall back on a little when things get tough. You never know what’s around the corner, and you never know when you’re going to need a little extra money.

As well as this, things break down and stop working all the time, but you don’t always have the money to fix them right away. As such, savings will help you out of a situation like this by ensuring that you have the money you need.

Insurance

Insurance is another thing that you have got to stay on top of as much as you can. For example, with your medical insurance, it’s worth paying more for the hospital and extras cover, rather than just hoping everything will be fine. We completely understand that insurance is expensive, and we get that it’s something you would rather forget about, but you should always be checking the amount that you are paying. There are a lot of people who end up paying more than they should be, and you don’t want to be one of these people.

Necessities

The final thing that we’re going to talk about are the necessities over time. Of course, there are certain things that you’re going to need now like food, but we’re not talking about this. What we mean by necessities are things like a place to live. Ideally, you need to make sure that you can always afford these basic things in life, because it’s when you can’t that things start to go wrong. Do whatever you can to ensure that you’ve got the money you need to secure a future in terms of necessities, which usually means you need to budget!

We hope that you have found this article helpful, and now see some of the things that you need to keep your eyes on when it comes to the future and money. Money is always going to be tough for some people and easier for others, but that doesn’t mean that you can just ignore it and hope that it all works out fine in the end. We wish you the very best of luck, and hope that you manage to keep your plans for the future secure.

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If you’re like most people, you probably need more saved up for retirement. But there is always time to start saving. And one of the best ways to do that is to make some extra income. Below are ten ideas for ways you can make some extra cash. So get started today, and you’ll be on your way to a comfortable retirement.

Offer Freelance Services

There are many skills that businesses are willing to pay good money for. For example, if you’re good at graphic design, web development, writing, or anything else, someone will likely pay you to do it. Use sites like Fiverr or Upwork to find gigs, or set up a profile on a freelancing site like Freelancer.com. Once you have some projects in place, you can start charging more per project as you progress.

Do Odd Jobs

If you’re not keen on freelancing, doing odd jobs for people in your community is another option. This could be anything from mowing lawns and shoveling snow to painting fences and washing cars. In addition, you can use websites like Craigslist or TaskRabbit to find people who need help with odd jobs around the house or office. 

Get Cash Back On Your Purchases

There are a few different ways you can do this. One is with a cash-back credit card, which gives you a percentage of your purchase back in cash (usually around 1%). Another option is through a website like Ebates, which gives you money back on online purchases from specific retailers. And finally, apps like Ibotta and Checkout 51 provide you with cash rebates on groceries and other everyday items. 

Sell Stuff You Don’t Need

Do a quick inventory of everything you own—clothes, furniture, electronics, etc.—and ask yourself if you need it all. Chances are, you don’t. So please get rid of anything you don’t use or need (you can sell it online or have a garage sale) and pocket the cash. 

Invest In Real Estate

This one takes a little bit more money to start, but it can be well worth it in the long run. You can either invest in rental properties or flip (properties you renovate and sell for a profit). Make sure you do your homework before investing—and have an exit strategy if things go south. 

Participate In Focus Groups

Companies are always looking for consumer feedback about their products and services and are willing to pay good money. You can find focus groups by searching online or checking with your local chamber of commerce or university marketing department. Participating usually only takes an hour or two, and you can often walk away with $50 or more. 

Be A Pet-Sitter/Dog-Walker

If you love animals and don’t mind spending time with them while their owners are away, this could be a great way to make some extra income . You can use sites like Rover or DogVacay to find clients or put up flyers around town.                                               

Rent Out Your Home

This is beneficial if you live close to tourist attractions or significant business hubs. With sites like Airbnb, VRBO, and HomeAway, you can list your spare room, home, or even an air mattress in your living room. 

Fill Out Online Surveys

There are tons of the best survey sites out there that offer cash or rewards for participating. Sites like OnePoll, Qmee, Swagbucks, and Y Live provide small amounts of money for taking surveys online. You may not make a lot, but it’s an easy way to add some extra monthly income.

Start A Small Business

If you have a skill or passion that you can monetize, starting your own business can be an effective way to make some extra income . make sure to research your market and develop a viable business plan before getting started. You can also search for grants and other funding options that could give you a boost. These are just a few of the best ways to make extra income and start saving for retirement. Doing any of them regularly can help you build up your savings over time and get closer to reaching your retirement goals. The important thing is to find something that works for you and start taking action today!

Making extra income and retirement savings can be challenging, but it’s possible with the right strategies. First, remember to research, start small, and find something that works for you. Then, with dedication and persistence, you’ll be well on achieving your financial goals. Good luck!

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Starting your own business is a fantastic way to create a legacy. It gives you a chance to improve your wealth, gives you something to leave your children something, and it can even help you improve the world in some way. If you have an entrepreneurial spirit, then you are not going to be happy until you create something of your own. The good news is that we live in a time when you can easily start a business. As long as you have the drive and determination, you can set the wheels in motion and create something amazing. Here are some tips to help you out:

Stay Focused

In the initial phases of deciding you want to run a business and coming up with an idea, you can easily over complicated. A lot of people get very excited and add layer after layer of complexity. You have to avoid doing this. The more complicated something is, the more difficult it will be to turn into a reality. Once the business has been running for a year or so and you are well grounded, then add the complexity. You need to keep things simple and focused. This may quell be the most difficult thing to do. Write your idea down in a short, single sentence, no and’s. 

Background 

When it comes to opening a business, there is a wealth of knowledge available to you. So, before you do anything, read a lot. Network with people who are doing the same thing. Read biographies. The more background you can do, the better. You can find things such as how to start a nonprofit, and there will be other start-up business type of information out there. It is your job to do your homework and discover everything that you can.

The Financial Side

Depending on the type of business or organisation you intend to open, there may be some financial help. The may be a government grant or other types of help. If your business is around sustainability or any other needed industry, then there may be some scope to get some financial backing. If you need money, you can always pitch your idea to an investor such as the bank. Consider also things like Crowdfunding too. 

Write A Business Plan

Writing a business plan is a vital step. If you try and start a business without one, you may find a lot of problems that you have to deal with while trying to run the company. A business plan helps you run through the business in theory, and this helps you iron out a lot of the pitfalls and issues. Another thing is if you want to pitch the idea to investors, you are going to need a business plan with a fully realised financial side with future projections. They will want to see you a someone worth investing in., Remember that the majority of new businesses fail within the first year. They are going to be looking at you, trying to decide if you are different. 

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Working is a major part of everyone’s life, and you are no different. You spend a significant amount of time in your workplace, so you naturally want to feel comfortable while you are there. There are many proactive ways to make that happen. Keep reading to learn more.

Report Injuries at Work

You want to be safe at work. You pay attention to the cautionary signs, read the safety manuals, and follow the protocols to a T. Unfortunately, sometimes incidents still happen. Should you find yourself dealing with an injury that has occurred at your workplace, it is imperative that you hire a team of workers compensation claim lawyers.

Knowing your rights after suffering an injury whilst on the job can be difficult if you have never been through the process before. That is why having experts on your side will make the process easier. Talk with your lawyer right away to learn how to deal with physical trauma at work and learn about what options for compensation might be available to you.

Move Your Body

As you are able, make it a priority to switch positions if your job is primarily sedentary. Stand when you can and pay attention to your posture. If you have the time, make the decision to take the stairs instead of an elevator to get in more steps. Try to park at the end of the parking lot, as far away from the entrance as possible. This will encourage you to walk more at the beginning and end of your workdays. Doing so will help you, especially if you have been sitting all day long.

Watch this video to learn how to stretch your back without ever leaving your desk.

Eat Well

Eating healthy food at work can be difficult. There are vending machines at every turn with candy, cookies, and soda that are all too easily available. Co-workers often want to order in or go out for lunch. This can become both expensive and detrimental to your health. Instead of falling prey to these accessible food options, bring your own lunch, snacks, and drinks to work.

Make the process of packing lunches easier by investing in a lunch box or bag, reusable containers, and a refillable water bottle. Opt for healthy food that you will enjoy eating. Make sandwiches, cut fruit, and pack the portions so they are easy to grab and go every morning before work.

Make Connections

Having connections with your coworkers is important for your happiness and mental health. When you go to work each day looking forward to having quality conversations and interactions with the people in your office, it is meaningful. Interacting with others promotes the work environment towards a more collaborative, open, and supportive space for everyone.

Living your best life, whether you are at work or at home, means doing what you can to make good choices for your everyday health. When those choices are out of your control, consult professionals who will help you understand the nuances of the law and how you can be compensated for any undue injuries so you can continue to be productive.

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