Magical Penny

It seems like everyone is experiencing a degree of financial hardship these days. With people experiencing layoffs, cut hours, trying to work from home and other inconveniences, it can cause financial suffering. It can be stressful trying to stay afloat when bills are looming, and unexpected expenses cause debts. If you need money, and you need it fast, you might be wondering how on earth you’ll get it. 

One option could be applying for a loan.

Many people assume that they may not be a candidate for a loan, or they could not get approved for the amount they need, due to issues such as fair or bad credit, low pay, or never having applied for a loan before. But the truth is, there are loan types out there for everybody, no matter your financial situation, your credit score or how much money you make. It’s just a matter of knowing which type of loan is best for you, and applying for the right one!

Bank loans, often called “personal loans”, can be a good option if you have a standing relationship with your bank and you need a large sum of money. If your loan request is upwards from a thousand pounds or more, you may want to try this option first. However, bank loans do tend to be more strict than other types of loans, so you’ll need a decent credit score, a solid job AND banking history (this means no overdrafts or negative balances), and may need to offer up collateral. However, if you have all these things in the bag, you’ll likely be approved after filling out your application.

If you can’t boast a great credit score or  your work history is a bit uneven, you might consider a payday loan from direct lenders. Payday loans have a looser criteria to qualify, and they work with people who have no credit or even bad credit. So long as you have a bank account and a job with regular pay, you can get approved for smaller loan amounts. While interest rates on payday loans are often higher, you may find that it’s still worth it because of the rate of approval, refinancing options, and the fact that you can apply and receive funds same-day in many cases. If you need money and you can’t wait, this is a good option for you. Apply online in as little as a couple of minutes and get approved easily. 

These are just two loan types that are frequently used, and you may want to start here when deciding to apply for a loan. However, with a little research you can find all sorts of loan types that might work for you. Apply for a loan today, whether it’s a personal loan via a bank or a payday loan via direct lender, and get the money you need for those unexpected bills, quickly and easily. 

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The UK government announced plans in March to provide every worker furloughed in Britain with 80 per cent of their regular pay for as long as the coronavirus lockdown continues. The state has destroyed jobs, so it should foot the bill – that’s the reasoning anyway. 

The problem is that while workers are being promised 80 per cent of their salary up to £2,500 per month, a lot of people need more than that. Furthermore, most people can’t get by on four-fifths of their regular income to pay the bills. They need the whole lot. 

Getting into debt while furloughed, therefore, is a real risk. Even if you make £5,000 in regular times, suddenly getting pushed down to £2,500 per month is a big problem. Your income just halved, but your outgoings probably didn’t. 

Fortunately, the current lockdown is preventing a lot of spending. You can’t go out for expensive meals or take holidays, so that’s a big chunk of discretionary spending out of the window. But other costs remain. 

So what can you do to avoid going into debt while furloughed? Here are some ideas. 

Sell Your Old Handsets

Even if you think your old smartphone handsets have no value, it’s worth checking. You can sometimes make up to £150 for your old gear. On top of that, you can often sell broken handsets and make money out of them. 

If you sell iPhone 8 handsets, you can often make a large sum of money to put towards your bills. What’s more, you don’t have to go to a shop. You can just go online, see how much refurbishers are offering for your make and model, send it off in the post, and get your cash. 

Stick With Just One Subscription

Being furloughed is a bit like having a sabbatical. Instead of undertaking some grand project or going travelling, however, you’re stuck indoors watching the TV. At a time like this, it might be tempting to take out a bunch of subscriptions for purposes of entertainment and convenience. Still, it’s probably not a good idea. Subs can soon add up, and you can find yourself out of pocket. 

Reconsider Your Transport Expenses

If you’re going to be furloughed until October or beyond, do you need to continue paying for a car? If you have the option, you might want to consider cancelling your contract or selling it on. You may lose a bit of money in the short term, but you’ll gain overall. 

Shop For Cheaper Bills

Shopping for cheaper bills is way easier than it once was. All you do is hop onto a price comparison website and see whether you can beat your current rate. Doing this can sometimes save you more than £100 per month. 

So if you do all of the above, how much money could you save in a month? The overall figure realistically comes out at about £200, which is pretty good when you think about it. It could be the difference between having to take out a short-term loan and not.

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If the idea of building your own home is finally about to become a reality for you, there are some things you should know before you get the process started. It’s a great way to create a home that’s truly suited to the needs of your family. There are lots of mistakes that can get made when you’re building a home and there are some things you’ll want to understand ahead of time. So find out about all of the most important things below.

Your Schedule Will be Little More Than a Guideline

It’s important to realise that when you set a schedule for building your home, you will almost certainly overshoot it. Building a house throws up all kinds of challenges and there will be unexpected problems that arise along the way as well. Don’t expect things to stay on track and stick to a neat little schedule because it simply doesn’t work like that when building a home.

Budgeting is Key

Budgeting is something that you’re going to need to do ahead of time. The money side of things is always tricky when building a home and it’s very easy to go over budget and spend way more money than you need to when planning this kind of thing. You should also make sure you have secured the financing from a creditor that you’re going to need to take your plans through to their conclusion.

Give Yourself Plenty of Time to Find the Right Plot of Land

Finding the plot of land on which you’re going to build your home is perhaps the most important part of the process. After all, the location and surroundings are things you can’t mould and shape the way you can with the home itself. So take your time finding land for sale and be sure that it’s offering everything you need it to before you push ahead with the purchase.

Design for Your Future

When designing the home, you should make sure you’re not only thinking about what you need now and what your family needs, but also what you’re likely to need in the future. This is hopefully going to be the home that you all live in for a long time to come but for that to be the case, you need to give your family the room it needs to grow into.

Don’t be Tempted to Move in Before It’s 100% Done

Some people get tempted to move into their homes before they’re 100% complete and that often turns out to be a huge mistake. Give yourself time and don’t feel the need to rush things because living in a half-complete home isn’t easy, even if you think it’s nearly there.

Building your own home is the best way to create a space for your family that’s truly yours. You’re able to make it exactly how you want it to be and that’s something that’s simply not possible when you buy a home that’s already been designed and built by someone else.

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Your home network is something you want to keep secure, regardless of whether you simply use it for leisure or partly for business. Keeping you and your family’s data and confidential information private is important, and it doesn’t need to cost much, so here are some tips to secure your home network.

Get A VPS For Any Home Businesses

If you have a home business or a side hustle where you own a website, it’s important to take some extra steps to secure it. VPS’s are great for keeping your website on a private server so that you don’t need to worry about a lack of memory or disk space. There’s also more security in terms of it not being compromised and ensuring that backups are automatically done. You can find a cheap vps quite easily, and they are also easy to set up.

Choose A Strong WIFI Password 

Passwords can be the biggest influence when it comes to protecting anything that might be online that’s confidential. The same goes for your WIFI password as this is the gateway to your own files and data that are stored across all of your devices. It’s important that you choose a strong WIFI password and you should be changing this on a regular basis to make sure that it remains secure. Try to make your password complicated by adding a mixture of numbers, letters, and symbols where possible. The more complex you make it, the harder it will be to crack for any hackers or scammers that are trying to make you a victim.

Block Certain Websites

There are plenty of websites online that are dangerous or might seem a little risky. Your firewalls that protect your details while on the web can be helpful in blocking or warning you about certain sites. However, there might be sites that you simply wish to block straight away. By blocking websites, you can ensure that other members of your household aren’t going onto them by accident.

Protect Any Confidential Data

Confidential data is something you don’t want to fall into the wrong hands, and so it’s important to protect any confidential data through various methods. Encrypting your data can be helpful, and that’s pretty easy to do by simply doing a bit of research online. You might also want to put your data into a cloud system so that it’s protected away from your mobile or computer devices. It’s an extra layer of security that’s worth thinking about. You might want to think about buying some encrypted devices, and these are relatively cheap. It’s a small price to pay to ensure all your confidential information is secure.

Securing your home network is something you definitely want to be conscious of, especially as we spend more and more time on it nowadays. Pay for a good firewall software to protect your electronic devices that connect to the internet and be vigilant when you’re browsing. It’s all important to make sure you keep your household safe.

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Did you know that an astounding number of people have absolutely no money in savings?

This is true with many arguing that they don’t make enough to save money for things like retirement or even a few years into the future. This can run into problems when individuals are trying to improve their financial situation. It’s difficult to do this if you can’t boost your income. One of the easiest ways to boost your income is to use the savings that you do have wisely through investments. 

However, you might have heard that you can only invest if you have a sizable level of savings already. Is this the case? There are certainly some investment opportunities that are not accessible unless you have the right financial situation. However, this is not true for every possibility in the market. There are a few that are available to anyone and that’s what we’re going to explore today. We can also examine whether these could be the right investment choice for you. 

Savings Accounts

If you look at the market, then you will find that there are various savings accounts that could be available to you. As an investment, a savings account can be an example of a passive income. Ultimately, this means that your money works for you and provides you with an extra cushion of cash that you can fall back on when the need arises. Some savings accounts will be off-limit because you need to input a certain amount each month which you may not have. 

However, this won’t be true for every savings account. Some you can use even if you have limited amounts. The only issue is that the amount of savings that you accumulate will be limited because of low levels of interest. This is particularly true right now in the wake of the coronavirus when the interest rates are taking a sizable hit. However, even with low interest, you will still be able to slowly accumulate more money. So, while the payoffs might not be quite as great as you would perhaps hope, there’s still every reason so consider this possibility. 

Penny Stocks

It’s easy and perhaps understandable why some people believe that you can only get on the stock market if you have thousands in your bank account. Indeed, many of us have grown up watching films like Wall Street that seem to glorify and sensationalise the life of those who make their fortunes trading stocks. However, the reality is that anyone can get involved in the stock market thanks to penny stocks. 

Penny stocks are named as such because you can purchase them at low prices on the market. They are usually stocks in companies that have not yet seen a great level of success. They might even be in their first year. More than 90% of new businesses will fail in their first year on the market, which means that the majority of penny stocks will end up being completely worthless. Yet, the low prices make them worth the investment regardless of a type of situation similar to trying to win the lottery. There is always the chance that you end up investing in the next Apple, Microsoft, or Tinder.

There is no set rule about how to choose penny stocks. You can think about selecting them based on news stories that you have read. Or, even rumours that you have heard on the market. 

These investments are however very high risk, and you can invest in more established companies for small amounts too, through unit trusts and mutual funds (see ‘Investing‘ here on Magical Penny for more information)

Forex

Forex is a popular investment option because it is so easy to access and understand. Forex is basically the trade of different currencies. You can make money by trading at the right time depending on whether a particular currency rises or falls in value. You can also trade as much or as little of the currency as you like. It’s one of the only investment options where this is a real possibility. 

However, you may still want to use a broker to ensure that you choose correctly with this investment. A broker comparison help site will ensure that you are able to choose a broker who will be able to provide real benefits and keep you on the right track with your decisions in this area. 

Property

You might think that if you have limited amounts in savings, then you won’t be able to access property investments. That’s a shame because property investments can provide massive gains that are going to be tremendously beneficial. The good news is that a low level of savings doesn’t always mean that the property market is off-limits to you. You might just want to think about starting small. You can think about making changes to the property that you have to boost the value. You’ll then be able to sell it on for a lot more than it was originally worth. Particularly, if you hit the market at the right time. 

Once you do this, you will have money to put into further investments. You could even think about purchasing two small properties. You can live in one while using the other purely as an investment opportunity. You could either let it out or you can sell it on. Fixer-uppers are great choices here because you can get them at low prices on the market and then make aesthetic changes to them to boost the value. It might seem like something that you need expertise or knowledge for but it’s not as complex as it seems. You just need to ensure that you avoid properties with massive problems that you need to avoid. 

We hope this helps you understand that there are numerous investment possibilities available, regardless of how much you have in your bank account. Indeed, if you are keen to make more money, the options are accessible to you. You just need to ensure that you are making calculations about the level of risk that you take on board.

It’s important that this doesn’t grow out of control and that you are never investing more than you can afford to lose.

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Most people remember great teachers for the rest of their life, just as they do the bad ones. A great teacher can change your life.  They can inspire you, support you, believe in you, and push you to do great things.  

A college professor is not different.  Yes, they often have their own areas of academic research that they are focussing on, but the drive to teach and particular are still needed.  

So, if you’ve ever wondered if you’d make a good professor, take a look at the following traits and see if you have what it takes.  

You Need To Know Your Stuff

Becoming a college professor is an attractive option for many.  It allows them to concentrate on a subject they love, the job security is good and the average college professor salary is around $87K.  College students are expected to learn subjects in much greater depth than they have studied previously.  This requires a professor who is an expert in their subject matter.  

College professors are expected to have both a bachelor’s and a master’s degree.  Some will expect you to be studying towards your PhD too.  In some circumstances, if you have a great deal of professional experience in a field, you may be able to teach on an associate professor basis while studying. 

Staying at the forefront of your subject takes a huge amount of work and self-discipline.  Your employer will also expect you to advance in your chosen field in order to raise the teaching quality and reputation of the institution.  

If you’re expecting to coast by on the strength of what you yourself learned in college, you’re not going to make a good teacher.  

You Want To Teach

This might sound like another obvious point.  Even though you will be continuing your own academic research as a priority, you still have to want to teach that knowledge, not treat it as just a necessary part of the job.  

Teaching has probably changed since you originally studied, even if it was just a few years ago.  You need to learn how to teach in today’s learning environment, embracing new techniques and technologies.  

You will also need to want to teach a variety of students.  One of the great things about the education system is the opportunity it gives to people from different cultures, backgrounds, and points of view, to study. 

You will be expected to accept and teach them all, adapting your teaching techniques to help those who learn in different ways. This could be learner-centred teaching, group work, online discussion, video, or active learning.  

Be Passionate 

Teaching can often seem like a never-ending cycle of training, admin, and faculty meetings.  Keeping the passion for what you do is vital.  Students can sense it and take inspiration from it.  No one’s expecting you to be jumping on the desks like Robin Williams in Dead Poets Society, but students can tell when a teacher is just going through the motions. 

They Are Mentors As Well As Teachers

Going to college is an exciting time for many people, giving them their first real taste of freedom and independence.  It’s also a scary time too.  You’re navigating a transitional part of your life and suddenly you’re studying at a level higher than anything you’ve done so far.  Your grades and future career depend on how well you do over the next few years.  

Who wouldn’t be worried or stressed at a time like this? 

Many college professors will have office hours where students can come and talk to them one to one.  This is where you will form the most meaningful relationships with your students, building trust, and providing support.  

Being a mentor is not the same as being a teacher.  Your job is to help them prepare for the future, foster their love of learning, and share any wisdom you might have.  

You Need To Be Mentally Robust

Teaching is an intensely rewarding job, but it is also a difficult one.  Even though you aren’t working in a typical office environment, there are still elements of ‘office politics’ you will have to navigate.  It can be tiresome and stressful.  

Students can also be very demanding.  Not all of them will respond favourably to you or your teaching.  They are paying a lot for their education and have high expectations of the level of education and support they should be receiving.   

There will long hours too where there just doesn’t seem to be enough time in the day to teach, grade, follow your own academic research and interact with students.

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With almost everything online, from banking to clothes shopping, it is no wonder that cybersecurity is one of the most fast-paced and exciting careers. Information security analysts and cybersecurity professionals have a wide range of responsibilities. However, the main bulk of their work is to protect online data from being compromised. 

Getting Into It

To get into cybersecurity, it helps if you already have a passion and some level of computer knowledge. There is a range of degrees, like that from the University of Nevada Reno, that will give you the qualifications you need. 

Much of the practical side will come from learning on the job, though. 

Great job options for getting into cybersecurity include:

Vulnerability analyst: For this role, you will use a range of security tools to find critical flaws in systems, applications, and networks. This is about staying on top of the latest malware and other vulnerabilities. When identified, you will be required to mitigate the impact on the company. 

Cyber policy analyst: For this role, you will be required to develop strategies, requirements, and procedures for both public, private, and government companies. Assisting on the implementation of the policies for the clients is a vital part of this role. 

Network administrator: This role comes with many duties, amongst them is making sure the company’s network is secure and provides access to only those that should have it. You will have first-hand knowledge of the company network topology, and this is a role that can lead to very complex cybersecurity positions later down the line. 

SOC analyst: SOC stands for the security operations center. This is a 24/7 role and requires the reporting of cyber incidents that threaten various areas of the government. You will be required to conduct vulnerability analysis and make appropriate recommendations to mitigate these threats.

Research

In order to ensure you have the right qualifications, it pays to do your research on cybersecurity companies. Searching through LinkedIn profiles and company pages can give you an overview of the qualifications that people in certain roles have. You can also contact recruiters who will be able to tell you what they are looking for specific roles. 

In order to get some practice at home, you can set up a lab. This will consist of a range of virtual operating systems on the same computer. You can also set up the lab on Amazon’s AWS. 

The cybersecurity industry posts regularly and often, which gives you the opportunity to read plenty about the topic and bolsters your knowledge as you learn. Set up some Google Alerts about the cybersecurity industry so that you can stay on top of new threats, tools, and positions. 

The cybersecurity industry is the front line of protection when it comes to keeping valuable data safe. Protecting all businesses from attacks, hack, and various software that can compromise the safety of the network, and/or the people who use it. 

“It takes 20 years to build a reputation and a few minutes of cyber-incident to ruin it.” – Stephane Nappo.

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Decluttering seems to be a mania right now. We are all spending much more time at home right now, due to the global coronavirus pandemic.  So it’s little wonder that this emphasises how clean and tidy it is. In a lot of cases, it seems that this has given people the focus and time to finally declutter the basement or Marie Kondo their closet. After all, spending so much time at home does . But now could also be the time to declutter a different area of your life – your finances. Many people are having to revisit their household budgets due to the impact of the lockdown – trying to reduce bills and put aside as much in savings as possible in case of job losses and other economic shocks ahead. Others are just seeing the time won back from the daily commute as an asset that they can invest in fine-tuning their financials and getting themselves into the best position possible with money. So if you fancy a payment declutter, where is the best place to begin?

Start With Statements

You should start your financial declutter with a thorough purge of paper. Gather together all the statements that you have and review each account. Create an overview of exactly what you have in savings, what credit accounts are still open, and what your spending habits look like. Sign up for paperless statements-  these are much easier to file and search, as well as being kinder to the planet. Go through your latest bank statement and see where there are unused subscriptions you can pull back on. Similarly, if you have open accounts or lines of credits you don’t use, take the time to close them down. Have a look at what other bank accounts are currently on the market as well – could you get an account with better rewards, such as travel insurance and other perks?

Clean Up Your Credit Rating 

One of the most important financial assets you have is your credit rating. This score is the basis for how lenders assess your applications, and it can make a massive difference in the rates you are offered, and so the amount that you will ultimately payback. Many of us inadvertently have mistakes or outdated information on our credit reports that could impact our scores. There are also many small steps you can take to better your standing in the eyes of lenders. Improve your credit score, and you could be set to save a lot of money.

Revisit Your Investments

If you’re having money invested, it’s also a good idea to make sure it’s working for you as hard as it can. Truly understanding where your money is and how much interest it’s earning you is critical. Consider dividing your investments among low-risk solutions that offer a limited return and slightly higher risk profile options, which can provide more. Find a good independent financial advisor to invest you if you have a decent amount.

A few simple moves could leave you in a far better financial position, and leave you feeling like everything is in order. 

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Making your money stretch further is important to many households, and one of the bigger expenses in life can be the car. As you might go through a few of these in your lifetime, it’s a good idea to find ways to help make your car last longer and still be efficient at the same time. Here are some tips to help your car last longer.

Drive Carefully

There’s something to be said about being careful on the road because as well as helping the safety of others, you’re also protecting your vehicle from any damage. Obviously, there will be times where accidents happen, or you’re in the unfortunate bad timing where a small hard object hits your windshield, or you get run into by another car. However, by driving carefully, you can likely reduce the impact of damage that’s caused on a general, day-to-day basis. Think about the roads around you and the potential dangers that could cause damage to the car in some way, shape, or form. Stick to the speed limits and maintain that safe distance away from other cars. More cautiousness will certainly help to keep your care safe.

Check Your Tyre Pressure Regularly

Tyre pressure is important to check because otherwise, it can lead to damage to both the car and to the wheels themselves. Your wheels are also not cheap to buy, and when you’re investing in two sets for alternating between seasons, it can be a cost that adds up if you don’t pay attention to the level of tyre pressure. Make sure that they’re not under-pumped or over-pumped, and if it helps, make a note of when you check. You should be doing it every few weeks or more depending on how often you use the car itself.

Remember To Service Your Car

Whether you buy your car off a family member or from https://www.lmc-cars.co.uk/locations/essex, you always want to make sure that you are keeping it services as often as possible. Any concerns that you might have to do with the car and how it feels or sounds, get it checked out sooner rather than later. The last thing you want is to have thought something was wrong, ignored it, and then when it comes to your MOT, it was a smaller issue that could have been sorted and saved you more money in the process.

Top Up Fluids Regularly

To those who don’t have much knowledge of cars, it can be easy to forget about things like the car fluids. These are something that need topping up regularly and include your motor oil, brake fluid, power steering fluid, and transmission fluid. It’s worth finding out which ones you need to get in relation to your car. The more you do this when it’s needed, the better condition all your car’s parts will be.

Making your car last longer can be done, so make sure you take all these tips on board when it comes to maintaining your current vehicle.

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