How Your Savings and Investments Can Help People Through An Innovative Finance ISA

by Magical Penny on October 31, 2018

If you’re a resident of the UK, an ISA should be one of the first places you should be putting your savings.

For many, a simple cash ISA comes to mind but the interest rates are very low and your savings, whilst safe, are not likely to grow very much. Even some of the best ISAs do not pay enough to keep up with inflation, so in real terms, what the money can buy, savers can lose money.

The solution to growing your savings faster is to invest in a different kind of an ISA, such as a Stocks and Shares ISA or, one of the newest kinds of ISAs, an Innovative Finance ISA.

Both Stocks and Shares ISAs and Innovative Finance ISAs allow savers to invest in things that have the potential to grow their money faster than cash though it does mean taking on additional risk. There is a risk because the investment value is not guaranteed to go up all the time, in fact it might go down in value for a time. If you are very unlucky, you may even lose it all depending on the how the underlying investment performs. However, there is also the potential for your investments to grow very strongly, certainly more than what is available with cash savings.

In order to manage risk it is best practice to diversify, meaning to invest in a number of different things, so if one investment goes bad, you haven’t lost everything. Diversification is an important concept to understand, meaning to spread the risk so you are not putting all your eggs in one basket.

investingInnovative Finance ISAs

To introduce even more options for investors and savers the UK Government introduced the Innovative Finance ISA (IFISA) in April 2016. This newer ISA allowed savers to invest in new forms of investments that promise strong returns without having to rely on more traditional stocks and shares, and offers an opportunity to investors to do some ‘good’ with the money.

One example of this new breed of investment is called Peer-to-Peer (P2P) lending.

It works like this: Those looking to borrow money used to be limited to the banks but technology now makes it easier for savers looking for a return to become mini-banks themselves. Through a peer to peer platform, investors can lend out their money to others and receive the interest paid on the loan. Those looking to borrow money now have more options than just relying on a bank,, and savers can get a better return than cash. Win Win. Best of all, the interest is received tax-free if the money is invested through an Innovative Finance ISA.

Of course there is still risk, the person making the loan might miss their payments, but for some savers, the return is worth the risk and they make lots of little loans to diversify.

Doing More With Your ISA

Another form of investing offered by an Innovative Finance ISA, takes the peer-to-peer lending concept even further. Rather than helping individuals through loans, the money invested in the ISA goes into a pool to help fund legal cases for those who cannot afford to go to court to get justice. When the case is won, the legal fees are paid by the losing party and the investor gets their money back, plus interest. In the event that the court case is lost, there is insurance in place that offers some return. For investors this is a way for their money to do some good and earn a return too.

For more information about this offering within an Innovative Finance ISA click here.

With all investing, there is risk, but the potential reward could be worthwhile if you are looking to diversify your savings and investments.

It’s also important to note that, unlike cash ISAs, money invested in investments is not always covered by the Financial Services Compensation Scheme.

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Get Closer To Your Dream Job

by Magical Penny on October 26, 2018

While right now you’re happy working in your mundane job to merely pass the time and earn some money while you’re at it, there will eventually become a point in your life when doing that isn’t enough anymore.

You begin to want more and create a purpose in life.

This is where you will start dreaming big of a career that makes you truly happy. You see, that is one of the most important things in life. Of course, we work become we want money so that we then have the financial freedom to do whatever we want, when we want, as well as buying the things that make us happy without having to feel guilty about it. But if you have that doing a job that you hate, then you’re always going to be miserable. You will wake up to an alarm every day and just want to fall back asleep again, and doing that week after week will eventually take its toll and leave you resenting everything and everyone. They say that if you find a career that you truly love, then you never have to work a day in your life, and this is so true.

If you work hard enough, there is no reason that you can’t have the job you have always dreamed of having. – Here’s how to get you that one step closer.

Be perfect on paper

Before anyone considers having you in for an interview and seeing what an awesome person you are, they will be reviewing your resume first. Even if you think it’s great, you need to remember that they will be reading through hundreds of other candidates resumes too, so the more impressive it is – the better. Businesses will be looking for someone with the right amount of experience, knowledge, and skill, so if you’re lacking in a couple of departments, make sure you get what you need. With technology being what it is today, you can get your mba online no gmat without all the stress of school and exams, plus it’s a lot quicker this way too.

Be memorable in person

If you are lucky enough to get an interview, again, you are just a candidate to them – a number if that, so your job is to make them remember you and stick in their brain, no matter how many other people they have to see after you. There are many ways that you can do this, right down to the clothes that you wear. You always need to dress smart, but no one said you can’t add a bright colour to the mix to stand out. Then it’s all about winning them over with your personality. Smile, be confident with your body language, make eye contact, and answer their questions honestly. – Don’t tell them what they want to hear – that’s what everyone does and quite frankly it gets rather boring after a while.

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How Long Does it Take to Build A Good Credit Rating?

by Magical Penny on October 17, 2018

Building a good credit rating is important because it affects your ability to borrow money. The good news is that not only can you check your credit score for free, but you can also improve it. In this post, we’ll look at how long it will take to improve your credit score and some steps you can take.

How Long Will it Take to Improve My Credit Score?

According to the Money Advice Service, your credit score will slowly improve over time as you continue to make on-time payments.

However, there is no ‘hard and fast rule’ on how long it will take to reach the level you would like it to. For example, if you’ve had large debts or a bankruptcy, then it will take longer to rebuild your score than it would for someone who has only missed a handful of payments.

In addition, it’s worth noting that it often takes 3-6 months to calculate your first credit score. You’ll need to make a small payment on your credit card each month and then pay it immediately to prove that you can be responsible with the money you’re borrowing. Then your score will gradually build.  

But, by keeping a close eye on your credit score and checking it regularly, you’ll also be able to spot issues affecting your credit score and rectify them. Checking for mistakes and getting on the electoral roll are just a couple of examples of ways you can start to improve your score.

Larger issues may take longer to resolve. If you have negative marks on your credit file, then they will usually remain on your file for 6 years. After this, they will be deleted.

Factors that Improve Your Credit Score

Although the period of time that it will take your credit score to improve will vary based on your specific circumstances, the factors that will improve your score over time remain constant.

You should:

 

  • Deal with any late payments

 

Catching up on late payments is important for improving your credit score. If you can catch up with your payments and then continue to make them on time for an extended period, then your credit score will improve.

 

  • Reduce credit balances

 

A factor called ‘utilisation’ is also important. This is the balance-to-limit ratio of your credit. Ideally you should pay your credit card balances in full each month, or come as close to them as possible.

 

  • Avoid your overdraft

 

If you go into your overdraft or miss a payment, then there will be a negative impact on your credit score. As a result, you should only take out loans for important events. Only ever borrow what you can afford to pay back, and don’t overspend.

Although there’s no set rule on how quickly your credit rating will improve, if you follow these tips, you’ll start taking steps in the right direction.

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How Not to Let Your New Car Ruin Your Financial Future

by Magical Penny on September 11, 2018

So you have decided to get a new car, but don’t want to end up in debt if things don’t work out as you expect. There are so many things you will have to consider before you sign the dotted line and drive your new wheels away. If you don’t want your car to cause you more trouble than joy, you might want to consider the below tips.

Check the Credit Agreement

Before you would take out a loan or a hire purchase agreement, you will have to check what’s included and whether there are any restrictions. You need to be realistic to decide whether or not you can afford the final payment at the end of the term. If you have to pay off thousands to finally own the car after making installment payments every month, you’d better make sure that you will have the money when the time comes.

Get a Warranty

If you are buying a new car, you will have to check what the warranty covers. This can differ from one dealership to another, so you have to compare Offers on New Vauxhall Cars and find out which one gives you more value for your money and additional security that you will not end up with a huge repair bill should anything go wrong.  

Make Sure Parts are Available

If you would like to become more financially savvy, you will need to start thinking ahead. This means that you check the part availability for the car you purchase. Talk to the dealership and check how much it costs to import the original parts, or get remanufactured ones. If you are buying an Italian or Japanese car, chances are that your repairs will cost you much more than having a local and popular model.

My first ever car

Get a Comprehensive Insurance

If you take out credit or pay in cash for your car, you need to get an insurance that covers every event. From accidental damage to arson and theft, you ant to be protected, or you will end up losing your car and your money at the same time. Pay attention to the small print of the insurance documents, especially the exclusions.

Consider a GAP Insurance

Some people say that you don’t need a GAP insurance, and it is a waste of money if nothing happens to your car. However, new cars lose their value much quicker than you would be able to pay off the balance, not to mention the interest you owe the finance company, You have to check the depreciation rate of your new car, and make sure that you can replace it in case you lose without getting into financial trouble.

Choosing a new car is something you shouldn’t take lightly. You will need to build your wealth and assets, instead of simply paying to use the car. It is a good idea to compare the different offers and the cost of insurance, part availability, and depreciation rate before you make your choice.

 

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Is A Vacation Home Really The Investment It’s Cracked up To Be?

by Magical Penny on September 7, 2018

When it comes to choosing where to put your money to gain a return on your investment, there are few options as attractive as purchasing a holiday home. After all, not only do you get to see your money grow, but you and your loved ones get the benefit of using such a home as well. However, before you sink all your saving into this type of deal, it is wise to ask whether it is the best type of investment for you? Something that the post below can help you decide.

Could a vacation home be your next investment?

Yes – You get to have your cake and eat it.

The key selling point of a vacation home as an investment is all about living the good life while being sensible with your money at the same time. In fact, it’s a have your cake and eat it situation!

What this means is that you are not only investing, but you also get to enjoy the thing you are investing in while your money grows. In fact, depending on your availability and the rest of your finances you could head out to your vacation property at any given opportunity and still come out with a tidy sum when you sell. Something that makes it’s a rare and seductive type of investment indeed.

No – Its dependent on the locations you choose.

Of course, no financial choice only has positives to consider, and when it comes to holiday home investments that are always risks of which you need to be aware. One, in particular, is that largely depending on the location of your chosen property the value of it can go down as well as up.

Now, this does depend on location, and the type of property you buy as well. With attractive homes in major cities like this Meriton Apartment being likely to retain and increase their value in a much better way than an older property that is a small town. The only exception to this rule being period homes that are in beauty spots such as log cabin by a lake or beach, which are also consistently in demand.  

Yes – You can sell at any time, or wait until price appreciates.

Lastly, when it comes to investing in a vacation property, a significant advantage is that you have control over how long to keep it and when to let it go. What this means is that if it no longer becomes viable economically or practically to hold on to your investment you can sell it and cash in.

Although, it is worth noting that being able to sell a property quickly isn’t always guaranteed. Also, to make a decent return on you invest, it’s wise to wait until the sale price is significantly higher than what you purchased it for.

Conclusion

In conclusion, holiday property investing can be a particularly smart move for people that plan using the home themselves, and that want a simple way to increase their assets.

Although, if you have no interesting in staying in your vacation home regularly, it is prudent to check out the other investment options that are available to you as well.

 

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The Financial Risks Of Starting A Business

by Magical Penny on September 5, 2018

investingThere is one primary reason why many people start their own business, and it’s this one: To make more money!

And why not? Starting a business could be the best thing you do today. It can boost your income, give you extra spending power, and give you the ability to give up your day job. What’s not to love? Well, there are all the expected risks for starters. Your business might thrive, but then again, it might fail, especially when you consider the statistics. And why do businesses fail? It’s largely because of financial issues. Still, it is possible to minimise these risks when you know what they are in the first place. We have listed some of them below. Consider each one carefully, especially if you are on the verge of starting your own business.

Risk #1: Giving up your day job

With a regular 9 to 5 job, you have a steady income. It doesn’t matter how large or small your pay packet is, you still have the assurance that there will be money in your bank account at the end of each month. Not so when starting a business. You are in charge of sourcing clients and customers, and the money you make will be variable. You are also responsible for paying your taxes, so budgeting is key.

Tip: Consider starting your business while still having the security of a paid job. By going slow with your business venture, you will gain valuable experience, without having to lose financial security. When you know the ropes, and when you have sources of income to help to grow your business, then consider taking it full time. You should also speak to an accountant, as he/she will help you to manage your finances (including your taxes), and help you to minimise financial risk.

Risk #2: Your financial mindset

You do have to adjust your financial mindset to give your business a chance. If you are too frugal with money, then you may never invest in what you really need to grow your business. If you are prone to wasting money, then you will never have the savings you need when an emergency arises.

Tip: It’s about knowing yourself and your personal habits with money. If you let any bad habits impinge on your business, then calamity won’t be too far away. Therefore, speak to an accountant for advice on saving and budgeting. Research the areas where you need to spend money and weigh up the risks of spending. And learn from experience where mistakes may have been made in the past. Ultimately, you are responsible for your finances, so be wise and sensible, rather than too frugal or too squanderous.

Risk #3: Losing customers

If you lose customers, you lose your profits; it’s as simple as that. They are the lifeblood of your business, and you won’t get very far without them. And if you upset them in any way – rudeness over the phone, lose their data, break promises – they will spread negative word about your business and damage your reputation.

Tip: Customer service is key, so research ways to keep your customers happy. Ensure you don’t fall foul of them and legal matters by adhering to regulatory compliance. Look at what your nearest rivals are doing, and vow to better them in order to keep your customers on your side. And put your efforts into marketing, to ensure you have a steady stream of customers using your service. By doing all of these things, you are minimising the risk of losing money because nobody trusts or uses your business.

Finally

Despite the risks, you may be in danger of restricting your financial future by deciding not to open a business at all. Still, be mindful of the advice in this article, and you will minimise any damage to yourself and your business. We wish you every success.

 



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Which ISA is Right For You?

by Magical Penny on September 3, 2018

Putting money into savings is a great first step if you want to grow your pennies and improve your financial situation.
If you’re a UK resident then it’s likely that opening an Individual Savings Account (ISA) is a good place to start because any interest, income, or growth, is tax-free.

But which ISA is right for you?

Basic Cash / Stocks and Shares ISA

An ISA is a simply a tax-free wrapper that protects your returns from tax.

The two main variants are ‘Cash’ ISAs and ‘Stocks and Shares’ ISAs. It is possible to have both a Cash ISA and a Stocks and Shares ISAs and funds within the two can be transferred between each other, though you have to be over 18 to have a Stocks and Shares ISA (or 16 for a cash ISA).

As the protection from tax is a valuable government benefit, there are limits to how much you can contribute into an ISA.

Every tax year — April 6 to April 5 — there is a fresh ISA allowance, currently £20,000 in 2017/18 for each individual.

flexibility in savingsGet Flexible

If you open a new ISA, you should check if it is a ‘Flexible’ ISA.

Rule changes mean that you can now withdraw money from an ISA and not lose the allowance if you return the monies in the same tax year. However, not all ISA administrators have adopted this functionality so it’s worth checking if that flexibility is available if it could be useful to you.

Cash ISA rates vary so it can be worth transferring for best rate but if you saving for the longer term consider a stocks and shares ISA for the potential for higher returns through equity-based investments.

Bonus ISA – Help To Buy

As well as the standard ISAs there are two ISAs that offer you a government bonus that will help you reach your savings goals if you’re saving for a house deposit.

The Help to Buy ISA came first, and is a type of cash ISA where up to £12,000 can be saved to qualify for the maximum 25% bonus (£3,000). You can open the account with an initial deposit of up to £1,000 and can then top up your savings by up to £200 each month. The bonus can be used to buy a a £250,000 home outside London or £450,000 if you aspire to be a Londoner. You can take money out of it for something other than a house deposit but the 25% bonus is lost.

Like a normal cash ISA you must be 16 to open one and have never owned a home here or abroad. If you are planning on saving using this type of ISA you should be aware that, perhaps annoyingly, the bonus cannot be used as part of the ‘exchange deposit’. Instead you get it after everything has completed. To be able to use the bonus as part of the deposit, you would be better getting the other bonus-paying ISA, the newer Lifetime ISA.

Bonus ISA – Lifetime ISA (LISA)

Available for those aged 18 to 39 when opened, a LISA can continue to receive contributions up to 50 years old.

It’s called a Lifetime ISA because the money can be withdrawn at any time to buy a house worth up to £450,000, or the balance can be left until age 60 when it can be withdrawn tax-free like a normal ISA.

Any money taken out earlier for reasons other than a house deposit will face charges of 5% on the whole amount so you should consider these monies to be for the long term. It is possible to have a Help to Buy ISA and a LISA, though the first-time buyers’ bonus is only awarded on one of them.

The contribution limit is higher than the Help To Buy ISA,  you can save up to £4,000 a year and get a 25% bonus from the Government (£1,000).

Most Lifetime ISAs are stocks and shares ISAs so you can invest in equities rather than being limited to cash. This provides more potential for growth depending on how the investments grow over time, although the values can also go down too.

Ultimately if you don’t have either you would be most likely be better opening up a Lifetime ISA as it has a bigger annual limit and can still be invested in cash if you wish. With a LISA a year needs to pass before a bonus is paid on a house so if your goal is to buy a house in the next 12 months a Help to Buy ISA might be better for speed.

Be Innovative

Another variant of the Stocks and Shares ISA is called the Innovative Finance ISA. This is an ISA that gives savers access to peer-to-peer lending platforms or invest in companies through crowdfunding websites. You could get a better return than available from a bank, but they are riskier. It’s also important to know the money is not covered by the Financial Services Compensation Scheme if the borrower defaults or the provider collapses.

What about Junior?

Those with children born after 3 January 2011 can save for their future using a Junior ISA where up to £4,128 tax-free each year for their child for the 2017/18 tax year. The account  becomes a basic ISA once they turn 18 meaning they access the money then, but children can get control of the money at 16. Interestingly, children aged 16 to 18 can have a Junior Isa as well as a standard ISA and they have separate allowances so lucky teens can maximise their savings if they have generous family memories or a well paid job!

How Many ISAs can you have?

You can open a new cash ISA or stocks and shares ISA each year , and contribute to any ISA each year as long as the total amount does not exceed the annual limit of £20,000. There are however, a few other points to consider so for more information on ISAs read this helpful ISA summary.

Happy Saving!

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Funding Your Dream Self-Built Home – What You Need To Know About MMC Mortgages

by Magical Penny on August 10, 2018

Have you ever dreamed of building your own home?

My Dad was an architect when I was young and some of my most enduring memories are seeing my Dad working at his huge home drawing desk with what looked like large pieces tracing paper stuck secured with masking tape. Naturally I spent some time designing my own dream house and asking my Dad what he thought of my design decisions.

Maybe you have similar ambitions for getting your own dream home designed and built in the real world, but do you have a plan for finding the money to make your dream into a reality?

Building a house isn’t always a childhood dream to be realised. For an increasing number it is simply a necessity to ensure they have a space suitable for their family, particularly with the UK’s current shortage of housing.

An increasingly popular method of building a new home, both cost-effectively, quickly, and with environmental and engineering advantages, is by using MMC.

What does MMC stand for?

MMC stands for ‘Modern Methods of Construction’ and in a survey of 250 house-builders by the Build Show, 67% believe it will play a key role in new-home supply in the UK. These modern methods, also known as ‘smart construction’ involvers using off-site construction practices in factories for more efficient, effective mass production in building.

For those with aspirations to build their own house, or move into a new house built in this way, there is plenty of appeal for using MMC. The speed of construction and innovation of materials (using walls made of insulation rather requiring insulation to be added as an additional step known as Structural Insulated Panels for example), can dramatically reduce the costs of building and ongoing costs too.

Reinventing Pre-Fab For the Modern Age

However, there is some stigma associated with this type of construction which is seen by some as a modern equivalent of prefabricated housing which was so popular in the post-second world war years. It was speedy for quickly rehousing those made homeless from the destructions of war but not always the best quality.  However today’s methods, where entire walls complete with cladding, doors and ducting for wires and pipes can be made in a factory before being transported to the building site can create some stunning houses that are a world away from the rushed pre-fabs of the post war years.

Getting a Mortgage on a MMC Property

Despite all the cost savings, efficiencies and quality end result of a house built using these modern methods of construction (MMC), there will be different terms and conditions for self-build mortgages on a a MMC property compared with a more traditional build as lenders may not be as familiar with this type of property being used as collateral for the loan. The quality of MMC homes is a consideration and the perception or assessment of the quality could restrict lending capacity available from some lenders.

Financial Hope For Self-Builders

There is hope however for those wishing to get a mortgage on their self-build MMC property. Building Societies such as Ipswich Building Society are generally more receptive when it comes to accepting MMC as suitable security for mortgage purposes, particularly those that lend in the self-build market as they are more experienced in assessing the potential risks of non-standard construction types.

What documentation do you need?

For any mortgage application, you should have utility bills, three months of payslips, a P60 from your employer, proof of any benefits received, proof of identity (such as passport or driving license), 3-6 months of bank statements (print outs may not be accepted). If you are  self employed then account statements from an accountant covering the last two or three years will be required, an SA302 tax return form, and further supportive bank statements. In addition, for a self build mortgage application, you will need copies of your planning permission, construction drawings and specs, total project cost estimate (including fixed-price contracts where possible), Building Regulations approval (including SAP calculation), site insurance and structural warranty, and your credit report. If applicable, they will also need to provide their architect’s professional indemnity cover.

Building your own property is an amazing opportunity to create your ideal home, but don’t let getting a mortgage become the most stressful thing – there are lenders like Ipswich Building Society who understand modern methods for construction and if your build is using a scheme accredited through the Buildoffsite Property Assurance Scheme (BOPAS), they could potentially offer you a mortgage deal to make your new home a reality.

Good luck!

About Ipswich Building Society

Ipswich Building Society has approximately 65,000 members and currently has over 80,000 savings accounts and over 5,000 mortgage accounts. There are nine branches across Suffolk in Aldeburgh, Saxmundham, Halesworth, Woodbridge, Princes Street Ipswich, Ravenswood Ipswich, Hadleigh, Haverhill and Sudbury. The Society also has 2 agencies in Suffolk. 80% of the Society’s members live in the East of England with the remainder living across the UK. Ipswich Building Society was established in 1849. See www.ibs.co.uk

 

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Getting Your Bills Organised and Saving Money With Wonderbill

by Magical Penny on August 2, 2018

One of the most fundamental pieces of a good personal finance system is being able to pay your bills.

It’s great (and might be fun for some) to research the latest investment trends, or try to save money here or there, or find ways to earn extra money, but ultimately if you haven’t got a handle on your household bills then all your other plans are going to be affected.

Being good with money (and anything really) is all about having a general awareness of your situation at all times and being able to focus when it matters.

When it comes to money, I’ve been both good and bad. When my money-life was good, I naturally wanted to focus on it more, by being organised and tracking my savings and expenses, but when my money-life was bad, I wanted to bury my head in the sand and deal with it later…which doesn’t improve the situation by the way!

A recent survey of 3000 Brits in February revealed that I was far from alone in wanting to avoid dealing with bills – 32% of survey participants admitted to ‘managing’ their bills through things like binge watching Netflix to forget about them, ‘hoping for a miracle’, ‘praying for an answer’ or using the ‘old filing method’ of throwing them straight into the bin.

I’ve certainly done a few of those things in the past!

Do you have a system for managing bills? Is it working for you?

The majority of respondents (67%) do keep track of bills, but almost half (43%) use manual methods like notebooks, calendars or diaries. Such methods can certainly work but they can be time-consuming and it’s easy to make a mistake. Thankfully now there are apps and online tools that take much of the work of bill-tracking and keeping organised.

One such app I’ve been trying out recently is called WonderBill, and it was so easy to get my bills set up in the app. You simply log-in to your household bill accounts, and you can even add any bill you like, including rent! For example, I connected the app to my internet provider’s online account, so the app can pull through my internet bill automatically, or as it felt like, auto-magically!

I’ve used the Android app on my phone downloaded from the Playstore by searching ‘Wonderbill’ and the desktop version at https://my.wonderbill.com. It’s also available on iOS from the App Store.

I liked that it was easy to get the information into the app, it didn’t feel like a chore, and the integration with companies I already use like my internet and energy provider was really smart. There’s 67 providers available so far and more are being added all the time. I now have a history of all my different bills and the app even shows me where I could potentially save money based on my actual bills!

Awareness is Everything

Being on top of your bills not only helps you avoid paying them late, but you’ll more likely notice opportunities to save money when you come across new deals. I see my bill amounts in the app all the time so I can instantly spot bargains when I’m out and about. For example, if I saw an internet company deal on TV I’d know if it was worth switching or not because the bill-tracking app has raised my level of awareness of what I’m paying each month without having to rummage through envelopes or having to check through all my different accounts and direct debits.

If you’re going through a tough time with money, and even if you’re not but you feel you could be a bit more organised with knowing where you stand when it comes to your bills and expenses, you could benefit by trying something new like WonderBill.

It can be a completely natural reaction to want to bury your head in the sand or just ‘get by’, but there’s so much to be gained by being more in control of your bills. Not only can you plan your finances better, it gives you the mental space to dream bigger and be able to focus more on the more important things in life as you know you’ve got the basics covered.

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The Future’s Bright, the Future’s You

by Magical Penny on August 1, 2018

You need to think about what is involved in your life and your future. If you want success, you have got to go out there and get it yourself.

As Jordan Belfort once said, the only thing standing between you and your goal is the story you keep telling yourself for why you can’t achieve it. It is time to look forward into the future and to start investing in yourself.

There are a lot of things that people invest in these days, and there are a lot of opportunities out there for those who want to take them. But, it is clear that things are not going to happen on their own. You need to make sure you figure out the best ways that you can achieve success and move your personal prospects forward. Here are some of the things you can do to make yourself matter this year.

Expand Your Talents

We all have talents, and it is important to use these talents to try to secure success in our personal and professional lives. So this means you need to make sure you do as much as you can to increase your talents and look at what you can do to gain more experience. Something like an online criminology degree is a good example of how you can expand your experience and talents. You’re in the driving seat! 

Invest Wisely

It is really important that you look into making great investments, and these days there are so many ways you can do that. It is important to make sure you think about how you can make the right sort of investments for the future. Consider the different options available for doing this, and think about the best ways of approaching investment. If you can make the right choices now, you will benefit much more from this in the future. (Read more about investing with posts in the Magical Penny archives)

save early, save oftenStart a Business

It might also be a good idea to look at starting your own business as well. This is becoming more and more popular these days, and there are a lot of things you need to keep in mind when you consider doing this. Running your own business is not easy, and this is something you have to make sure you get right as soon as possible. There are many things you have to look at when launching a startup, and the cost is one of the biggest.

Save Money

Saving money is so important because is what help you get to a stage where you are a little more financially comfortable. There are a lot of things that need to come into play if you are going to get this right. Try to cut back on expenses and manage your money better so that you are able to make more savings on a regular basis.

As you can see, there is a lot to think about when you want to get the best result for yourself. There are so many things that play a role in taking the company forward and achieving a greater level of success. You have to be clear about what it takes to improve your prospects, and how great it’s going to be to make the future all about you.

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