Magical Penny

Most people would assume that gambling money is never the same as practicing good financial sense. In many instances, they would be right. Yet it’s also true that much of the world runs on financial risk, so accepting a little to make more isn’t exactly beyond the pale. For instance, a stock trader is essentially gambling his or her money, or perhaps the money of a fund they manage, on the performance of businesses. Some even short sell, which is effectively betting that a company (or an entire market) is going to drop in value.

Now, there are certainly better metrics than to research, habits to learn and good practice to follow here, making financial investments a little more reliable than betting on red or black at the roulette wheel. But this all begs a question – if you were to gamble (that is, safely, ethically, wisely and as an adult), are there financially literate methods of doing so?

Well, we believe there are, provided to stick to strong principles. Let’s consider that, below:

Always Vet The Betting Establishment

A betting establishment’s reputation does matter. They should be licensed, regulated casinos and betting shops that operate under strict guidelines that protect their customers. Many even make certain to take steps to prevent problem gambling. The same cannot be said for unlicensed operations or certain online platforms. A quick search of casino reviews, licensing information, and operational history provides a good insight, so make sure to use it. Reliable venues also tend to offer better odds and more transparent terms of service to keep you wanting to come back.

Always Set A Strict Limit You’re Willing To Lose

Money set aside for gambling should be viewed as entertainment spending, not as an investment. In other words, this isn’t part of your financial growth strategy. This means determining an amount that won’t impact your essential needs or financial goals if lost completely, and be willing to lose that completely so it’s not an emotional shock if you do. Some will find it helpful to separate this money physically, perhaps in a different wallet pocket or dedicated account. When it’s done, that’s it, you’ve spent for the evening, perhaps on the town with a friend or visiting a place like Vegas. This way, you can consider it a relatively expensive show you enjoyed, with the chance of winning big. And if you do, accept those wins, and walk away. 

Avoid Trying To Recoup Losses Without Thinking

The temptation to chase losses has ended many gambling sessions poorly, to the point where people have lost everything they have. Losses shouldn’t be viewed as money that needs to be won back – they’re simply the cost of the entertainment, like buying a movie ticket or dining out as we said above. Taking a break after losses helps you absorb the emotion of it and have some more fun elsewhere. Never try to fix losses, that’s how you go deeper into the hole.

Avoid Any Electronic Gambling Machines

If you want to lose money, play on electronic gambling machines. Sure, their constant chiming and bright lights can be fun to play on, but they’re mathematically designed to ensure you never have the chance of reliable profit or returns like more fair physical games can. Traditional table games or sports betting often provide better odds and a slower pace that allows for more pensive decision-making – not quite on the level of stock trading, but better than a slot machine for certain.

With this advice, we believe you’ll approach gambling more as entertainment, but still use the financial literacy skills you learned here to protect yourself.

{ 0 comments }

When it comes to buying property in the UK, you will likely have a range of funding options available for your next purchase. Whether you’re investing all of your own money and buying the property outright in cash, taking out a mortgage for a residential property, a commercial mortgage or a buy-to-let mortgage, or you’re looking at purchasing an auction property, being able to find the right funding for the property market can be tricky. However, taking the time to ensure you’ve got the right type of loan is well worth the time and effort.

For those short on time or in need of an immediate cash boost, a bridging loan can be a lifesaver.

But what is a bridging loan?

It’s a short-term loan, usually paid off within 12 months, that can help you secure the funds you need faster than applying for other traditional types of lending to purchase property.

Bridging loans can come in two formats: open or closed. A closed bridging loan has a set end date when you take it out, and an open one doesn’t have an expected date to be repaid. A closed bridging loan is perfect for those currently selling a property but needing new money to buy a new property before the sale. On the other hand, an open bridging loan is a loan that is taken out without a specific end date, but most lenders expect it to be repaid within a 12-month. If you are considering a bridging loan but are not sure if it’s right for you, then read on to uncover what this type of lending can offer you for your next property purchase.

Fast Access

Let’s say you’re heading to the auction but don’t quite have all the funds you need to purchase the property if one catches your eye or you have your eye on a particular property that’s up for sale. Instead of waiting for a traditional mortgage to be accepted, whether it’s going to be your primary residence or a rental property, for example, a bridging loan can enable you to access all of the funds you need upfront so you can make the sale until your mortgage is approved. Typically, quick bridging loans are approved and granted within five to fourteen days.

No Monthly Repayments

As mentioned, bridging loans are typically repaid within 12 months. However, one of their main benefits is that there are usually no monthly payments to make for the duration of the loan. You can choose to repay all of the loan and the interest in one lump sum either at the end of the period or as soon as you have the money. For example, if you’re selling a property and using a bridging loan to purchase a new one, you can repay the bridging loan in one lump sum as soon as your current property is sold. However, it’s important to note that if you cannot sell your property within the agreed-upon time, you may pay more interest. This option is also ideal for those looking to make a quick purchase and flip a property, for example, and get it back on the market within 12 months, meaning that you can lend the money and not make any repayments until you sell the property and then repay the amount that you’ve borrowed in one lump sum. 

{ 0 comments }

If you are wondering what you can do to afford a car that you are keen to buy, there are all sorts of ways that you might be able to achieve this, and it might actually be easier than you think. The truth is that affording a new car is going to be relatively simple as long as you are putting your mind to it. In this post, we’ll take a look at some of the ways in which you should be able to make this process quite a bit simpler and easier for you to consider, so let’s take a look now at what you might want to bear in mind here.

Save Properly

A lot of the time, it can really help if you are making a point of saving your money as well as possible, and this is something that a lot of people are trying to do which is perhaps not as easy as you might think. If you are saving in the right way, however, it can mean that you are going to have so much more money to work with, and that will of course make it easier to buy the car that you are hoping for. So bear this in mind and start putting the bulk of your money somewhere it will actually earn interest for you.

Widen Your Search

Sometimes you are able to get hold of a car you are looking for, or a very similar one in the same kind of range, but for less money, by just widening your search area. Ultimately you can find something like a ford ranger in a number of different dealers. If you are currently looking only at one or two places and you want to try and make sure that you are going to widen that out, then doing so is definitely going to be a really good idea, and it’s the kind of thing that is going to make a world of difference to how you can approach things. So make sure that you are trying a number of places if you want to get the car you’re looking for.

Try Finance Options

Generally there are a lot of different options for how to pay for a car, so you might want to try some of the finance options that are out there too, as a way to make sure that you are able to afford a car much more easily. If you are doing that, you’re going to find that you are much more likely to end up with the car you want, and all it takes is signing up to a finance deal. It’s always worth asking any dealership whether they offer something like this, because it’s pretty common and you’re probably going to find the answer is yes.

Those are just some of the main ways to be able to afford the car you really want.

{ 0 comments }

Going on holiday is one of those experiences that everyone deserves to have in life, and you’ll probably want to do all you can to make sure you can afford to do this kind of thing as much as possible. As long as you can, that is going to make for a much better day to day experience, so that is really worth thinking about. What are some of the most affordable kinds of holiday you can take, and how can you ensure that you are able to afford them easily? Let’s take a look at some examples that you may want to be aware of here.

Self-Catering

One option is to stay in self-catering accommodation. This simply means that you have a room or a place to yourself, but you need to provide your own meals, as there is not a kitchen to do it for you. You will generally have the means to cook your meals in your room, and this can be a perfectly enjoyable way to have a holiday anyway, one which a lot of people even prefer. So all in all, this is a pretty good option and one that you might want to consider if you are saving money, as it is generally a cheaper option.

Road Trip

Perhaps you want to explore as much as you can, however, but also save some money. You can easily do this and it’s the kind of thing that you are going to be able to get a lot out of too. You’ll need to get hold of a decent vehicle like a quartermaster, and you’ll have to have a good sense of where you intend to go, but as long as you do that stuff, this should be quite an affordable holiday on the whole, and one you’ll remember fondly.

Staycation

If you want to really save money as well as doing your bit for the planet, you might consider a staycation. This essentially just refers to a kind of holiday where you don’t go abroad, but have a vacation closer to home, and it’s the kind of thing that you are going to find really worthwhile to think about. All in all, this is going to be something that you are really keen to try out, and you’ll probably find you can have a great deal of fun this way. You will certainly spend less money.

Budget Hotels

Finally, you can opt for your normal holiday, but just choose instead to stay in more budget hotels and hostels. There are generally always going to be options for this wherever you happen to be staying, so you’ll find this is something that you might really want to think about, and it’s likely going to make a huge difference to how you are going to experience your trip. It will definitely mean you save money too.

{ 0 comments }

Vehicles can be notoriously expensive to buy, and that can be frustrating when you really have one in mind that you really want to own for yourself. If you do have such a dream car, and you are wondering what you can do in order to be able to afford it, the truth is that there are a lot of ways in which you should be able to achieve that. In this post, we are going to discuss just a few of the things you might want to bear in mind in order to try and afford your dream car as easily as possible.

Deciding On Your Dream Car

First of all, you’ll want to get as clear as possible on which car is genuinely your dream vehicle, as this is going to obviously affect how much money you need to put together and so on. So it’s worth spending a little time trying to figure this out, considering your options, and perhaps coming up with one or two other vehicles which you might be happy to go for if you are not able to get your number one choice. Having options in this way can often be really helpful, so it’s certainly something you’ll want to consider all in all.

Comparing Models

Even within the range of the car that you think you want, there are probably going to be different models that you can consider, and it’s a good idea to make sure that you are comparing them as closely as you can so that you are much more likely to be able to get this right. It’s the kind of thing that is going to be really vital to consider, and you’ll need to think about some of the differences between, say, an audi q8 and its nearest cousin. The more you know about this, the easier the decision will be.

Saving Up

The actual process of saving up money can be helpful to look into as well, and it can help you to figure out what you are going to do in order to be able to afford your dream car. There are many approaches to saving which you might want to consider, but the main point is that you are doing whatever you possibly can to be able to get the money together in time. If you start early and save often, that is going to be a pretty strong way to make sure you are getting this right.

Believe In The Process

Finally, make sure that you are allowing yourself the freedom to really believe that you can do it. It might sometimes feel that your dream car is some way off, but the truth is that you should be able to get it for yourself if you stick with the process, and that is the kind of attitude that you really need to bear in mind here if you are going to make it work for you.

{ 0 comments }

Deciding on big-ticket items can feel overwhelming. Whether it’s a car, a piece of designer furniture, or a luxury gadget, we all want to get it right. These aren’t just purchases; they’re investments that can add value to our lives if chosen thoughtfully. So, if you’re wondering how to pick the best high-cost items that’ll actually serve you well, let’s take a look into a few ways to make those decisions confidently.

Think About What You Actually Need (Not Just What You Want)

When it comes to big purchases, ask yourself, “What do I really need?” It’s tempting to go for the shiny, trendy things, but think about what you’ll actually use in the long run. Do you need that luxury SUV if you mostly drive around town? Or maybe a sleek, dependable car is more your style. For instance, Kia models have built a reputation for reliability and long-term value—proof that investing in what you need often brings the best satisfaction. Consider how each item will fit into your day-to-day life, now and in the future, before making a decision.

Look Beyond The Price Tag: Think About Value Over Time

Sometimes, the price tag of a high-end item can make us stop in our tracks. But here’s the thing: not all costs are created equal. Some items, like certain watches, art pieces, or classic car models, hold or even increase their value over time. A thoughtfully chosen piece can be as much an investment as it is an expense. Research brands and items that have a history of appreciating or retaining value, and you may just find that spending a bit more upfront brings you long-term rewards.

Quality, Quality, Quality: Why It’s Better To Buy Once

When you’re buying big, it’s about quality over quantity. This isn’t about buying several pieces that are “okay” but rather investing in something exceptional. Think about it like this: a beautifully crafted handbag might cost more, but if it’s made to last, it’ll serve you far better (and look great) for years compared to a dozen trendy bags. The satisfaction of owning something that’s built to last is absolutely unbeatable. 

Choose Things That Bring Joy, Not Just Status

At the end of the day, big-ticket items should feel personal. Don’t buy the latest tech or the most hyped item unless it genuinely excites you. Maybe a home gym sounds appealing, but if you’re more of a yoga class person, ask yourself if you’ll actually use it. Prioritise items that enhance your life in ways that resonate with you, not just those that look good on a shelf or on social media.

Set Your Budget—And Don’t Apologise For Sticking To It

This might sound obvious, but having a budget is like giving yourself permission to buy what you love without guilt. Once you’ve set that budget, stick to it. We’ve all been tempted to “stretch” our budgets for something extra fancy, but here’s the thing: financial freedom is just as satisfying as owning that new purchase. A budget ensures you’re happy with your choice and your bank account, too. 

Choosing the right big-ticket items isn’t just about spending; it’s about investing in things that bring real, lasting value to your life. Spend wisely, and each choice will feel like a step toward the life you truly want to live.

{ 0 comments }

Do you want to buy a new car? If so then there are a number of things you can do to try and cut back on the amount you’re paying. By taking just a few simple steps, you will soon find that it is easier for you to save without compromising your vehicle.

Compare New Prices

When buying a used car, you need to compromise on your choice when compared to buying a brand-new model. With that being said, the savings make it well worth it. Negotiate with the dealer and make sure that you do your homework. Take the time to research prices elsewhere too. If you can, take a look at online brokers and see what they have to offer. Cars for sale are listed all the time, so keep checking back and make sure that you are always getting a good deal.

Consider an Older Car

You might also want to consider buying a new car, but an older model. Dealers often find that they register a whole range of new vehicles as they get to the end of the month as this means that they can meet the quota that is imposed on them by the company that manufactures the cars. Pre-registrations are also becoming less popular as time goes on and this can mean that you don’t end up getting the good deal you once did. If you are buying a car that is an ex-demo then you may find that this has been driven by a lot of different people too, but with that being said, you will be able to get a new model at a very affordable price. 

Downsize

Think about it, do you need an SUV? There’s a high chance you don’t. If you want to help yourself here then think about getting an estate or even a hatchback. When choosing a new car, you may also be tempted to opt for something different to the one you have now. Although there is nothing wrong with this, you need to avoid spending too much on something that could end up impacting you later down the line. Remember that bigger cars consume more fuel and that this could make your life hard.

Enquire

You also need to inquire about discounts if you can. If you happen to be a cash buyer then you might not get a discount immediately. With that being said, if you indicate that you are happy to buy a car through finance, then the dealer will prefer that you do this as it means that they can get a commission from it. You may think that buying in cash is better as it means you aren’t paying interest, but if you add everything up you may find that finance is the way to go anyway. If you can consider things like this then you will soon find that you end up benefiting and that you are also able to get the car you want and at a price you can afford.

{ 0 comments }

The cost of living crisis is causing us all to have to reach deeper into our pockets. Many of us are looking for any extra income we can get to support ourselves. What many of us don’t realise is that there could be money out there for grabs that we are already legally owed. From overpaid tax to mis-sold gap insurance, here are some of the sources of hidden money that could be owed to you – and how to retrieve this money.

Overpaid tax

Are you on the wrong tax code? One Canada Life study found that 43% of UK workers who checked their tax code were on the wrong one. And most of those workers were overpaying tax! While HMRC will sometimes willingly admit when people are owed a tax rebate, this doesn’t always happen and there are thought to be billions of pounds in overpaid tax waiting to be claimed back. You can check your tax code and find out how to claim back overpaid tax via the Gov.UK website.

Mis-sold car finance

Many people who took out car finance before January 2021 were charged hidden commision fees. Charging these fees has since become illegal and it’s now possible to claim back these commission payments. There are services online such as this Ford PCP claims service that can help you check for mis-sold car finance and claim back any more you’re owed.

Mis-sold insurance

Many loan packages in the past have notoriously included insurance that many borrowers didn’t ask for or need. PPI (Payment Protection Insurance) was a popular example a few years ago – while the deadline for claiming back mis-sold PPI was in 2019, there are still some people who are eligible to claim back this insurance. GAP insurance is another insurance product that has been mis-sold with many car loans recently. It could be worth checking your loan contracts to see if any insurance products have been added that you were not made aware of – you could be in your right to claim these insurance payments back.

Dormant bank accounts

There’s a lot of money currently sitting in unused bank accounts that people are legally owed without realising. This includes dormant accounts of deceased relatives that may have been overlooked during estate planning and probate, as well as old joint accounts when living with uni housemates or exes. It’s worth checking banks you have used in the past to see if you have any accounts still open. Meanwhile, if you have a bank statement to a deceased relative and you were the beneficiary in a will, you may be able to claim this money – bring the bank statement, your ID and your relative’s death certificate to the bank.

Stocks, shares and bonds

There’s also a lot of hidden money tied up in stocks, shares and bonds. For example, there are many people who had money left in NS&I premium bonds that have gone unclaimed. Some employers meanwhile put income into shares, which some employees forget about. Make sure to look into these shares and bonds so that this money doesn’t go unclaimed.

{ 0 comments }

Every entrepreneur can appreciate the importance of making a great first impression in business. As such, you’ve probably taken a number of steps to get this right. Unfortunately, all of the good work achieved by those positives may be compromised by overlooked issues.

The good news, however, is that addressing the issues will give you an advantage over your competitors. Here are six of the most common pitfalls, along with the best responses to overcome them.

Resonating with the audience

It’s likely that you have spent time and money researching your target audience. However, building a target consumer isn’t just about finding out who you want to reach and where to find them. It should also guide the tone of your messaging. If your marketing efforts are falling flat, repositioning your brand may be necessary. Rebranding into a luxury company, for example, could be the key to connecting with the right people and generating sales. If this means a negative response from outside demographics, so be it.

Cleanliness of your surroundings

When dealing with foot traffic, first impressions start before guests or clients have entered the building. Shop signage, window displays, and accessibility features are all great additions. Sadly, they count for very little when dirty. Many companies clean, but don’t go the extra mile.

Gum removal from your car park and walkways leading up to the building will make a huge impact. After all, most firms don’t do this. So, the added level of cleanliness will paint your brand in a more positive and professional light.

Your dress sense

People don’t only form opinions based on the cleanliness of the building and surroundings. They’ll also judge you, and the band by association, based on appearances. The good news is that you don’t have to look like a model or athlete to impress. However, good beauty or grooming rituals should be paired with the right work attire. When combined with confident body language and a firm handshake, the responses you receive will be more positive. Besides, it should put you in the right mindset too.

Social proof

Now more than ever, people let their opinions become influenced by others. They want to know that people like and trust your company. Likewise, an excitement surrounding your business can create a sense of FOMO to boost sales. With this in mind, a focus on social proof is essential. Many companies are now aware of influencer marketing and use it well. However,
affiliate marketing should not be forgotten. The close connection that people share with their friends can create an even bigger influence.

Transaction convenience

Whether completing an online or offline sale, there is nothing worse than losing it due to inconvenience for the user. A
versatile payment processing facility is now an essential feature for all businesses. Accepting multiple payment types, including Apple Pay, can help greatly. Similarly, opening the door to repayment plans can result in more sales. You do have to be careful of bad debt, though. When supported by the opportunity for users to complete the purchase in their native language, you should see big results.

The follow-up

Finally, you must remember that the first impression doesn’t end with the first interaction. The communication between this moment and their next visit is equally vital. From automated
cart abandonment emails to appointment reminders, regular communication is key. If nothing else, it keeps your brand fresh in their minds. Many people won’t complete their purchase at the first attempt either. So, creating these additional touchpoints can have a telling impact on future conversion rates.

{ 0 comments }