Cryptocurrency 101: Why All Investors Should Give It Another Look

by Magical Penny on July 10, 2017

bitcoinCryptocurrency is a hot topic in the investment world these days for good reason. Some people have managed to make millions buying and selling the decentralized digital money all over the world. Today, we’re going to discuss just some of the reasons why all investors need to take another look at the marketplace. If you aren’t putting your money in cryptocurrency at the moment, you might be missing a trick. That is especially the case if you already invest in other currency markets. With a bit of luck, by the time to leave this page, you will have a better idea of all the benefits.

Cryptocurrency can increase in value fast

There is no getting away from the fact that some cryptocurrencies have grown in value by thousands of percent during only a few years. That means anyone who chooses to get Bitcoin with a credit card today could see a significant profit during the next couple of years. However, it’s important to note that there are many other cryptocurrencies available online these days. That means you shouldn’t always opt for the most popular or well-known. Other currencies like Litecoin or Ripple are doing well at the moment. The basic rule of thumb is that you just need to perform a lot of research before you spend any money – and be prepared for a lot of volatility!

Cryptocurrency is versatile

Compared to other available currencies, cryptocurrency is considerably more versatile. Indeed, you can spend it in hundreds of different ways online. There are also lots of websites where you can buy and sell. So, it’s easy to make investments and cash in when the time is right. Business owners around the world have also become interested in the currency during the last few years. That means more entrepreneurs than ever before have begun to use it within their operations. As the popularity grows, that trend will continue, and it will become even easier to make money.

Cryptocurrency trades can be anonymous

Anonymity can become important to some investors when trading in currencies. That is especially the case if the investment could be considered a conflict of interest. There are many ways in which anyone can buy or sell cryptocurrencies under the radar. Indeed, there are many websites on the deep web that offer that service. Using the Tor browser should assist in ensuring the trades aren’t tracked by any government or authority. We’re not saying you can get away without paying tax on your profits, but it is possible to hide your actions somewhat.

 

As you can see from the information on this page, making a killing with cryptocurrency is easier than most people imagine. So, why spend your time trying investment ideas that will never produce the same level of profit? Take another look at cryptocurrencies today and work out if you should take a risk with the market. Thousands of other investors are doing that already with excellent results. There is a lot of risk and volatility involved but the potential to gain is there too. Jump on the bandwagon today and see if you can follow in their footsteps.

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When Debt Spirals out of Control…

by Magical Penny on July 6, 2017

cautionDebt is something that no one wants to experience, yet the reality is that most of us will at some point. Not all debt is bad either: consider a student loan as a prime example. But, having full control of your debt and managing it effectively is important. This all begins with educating yourself, which is why we put this post together. Below, we will take a look at the key signs that your debt is spiraling out of control, as well as providing a number of reasons for this happening. Hopefully, it will give you the knowledge you need to avoid such a scenario occurring.

Warning signs that your debt is spiraling out of control:

  • You have become depressed or extremely stressed – Worrying about money from time-to-time is normal, but if you are always in fear of creditors hounding you, this is a clear sign that things have gone too far. If you are not able to function or eat properly, you keep arguing with your partner over finances, or you are ignoring collection phone calls, you need to face up to the fact that you have lost control over money matters.
  • You are spending more than you can afford – If you are not conscious of your debt-to-income ratio and you don’t budget, it is very easy to overextend yourself. Work out how much incomings and outgoings you have per month. If you are spending more than what you have, it is time for change.
  • Your debt is always on the increase – If the amount of money that you owe keeps increasing every month, not only due to added purchases, but also because of interest and late payment charges, you are definitely heading down the wrong path. You need to ensure your debts are only getting smaller and smaller every month to stabilize your expenses.
  • You use your credit card to pay for everything – Do you find yourself using your credit card to pay for everything from your bills, to fuel, to food? If so, this indicates you are living way beyond your means.
  • You are only meeting the minimum payment amount on money owed – Of course, if you can’t even pay the minimum, then you definitely have to face up to the issue of debt. Moreover, paying the lowest amount possible every month enables the creditor to charge penalties and interest fees. It can take years to pay off your debt when this starts to happen. Plus, you can end up paying double the amount of your initial debt due to the interest accrued becoming so high.
  • You don’t know how much you owe – This is one of the clear signs that debt is a problem that needs to be addressed. Financially savvy people always know how much money they owe, and they make certain that they budget their expenses so that they have enough money available. If you do not keep track of what you spend and you have no idea what your current balance is, you could be in for a nasty surprise.

What are the main causes of debt?

There are many reasons why people end up in debt, and in some circumstances it is unavoidable. However, there are many cases whereby debt could have been prevented. Let’s take a look in further detail:

Underemployment

Underemployment can feel like a relief to those that have been without a job for a while. Or, if your hours have been cut, it can feel like it is just a temporary situation. When it lasts longer than anticipated, it eats into the money you do have, as you aren’t bringing as much in.

Poor money management

There is no denying that one of the main reasons people end up in a cycle of debt is because they do not manage their money effectively. It is important to put together a monthly spending plan. Without one, you will not have any idea where your money is going. You could be spending hundreds of pounds each month unnecessarily. All you need to do is write down your income and your expenses and reconcile the two – it really is that simple. It will give you greater clarity over what you have, enabling you to make sensible decisions with your money.

Borrowing money irresponsibly

It is very risky to borrow money without conducting the necessary research or ensuring the terms are right for your situation. Most people will take advantage of a loan at some point in their life. This can be a great way to move up the property ladder or to help you get out of a sticky situation. However, you do need to ensure the loan is right for you and that you can make the repayments. Payday loans provided by the likes of Payday Loans Net are short-term loans of a small amount. They are designed to help you deal with those immediate tricky financial situations, for example, an unexpected car repair bill. There is no point in taking out a large bank loan for such a scenario. Don’t borrow more than you need and ensure the terms are favourable in regards to your situation.

divorce split moneyDivorce

Anyone with experience will know that divorce is one of the most expensive things you can go through. Unfortunately, in some cases, an expense divorce is unavoidable, especially if your ex-partner is being difficult.

Reduced income/same expenses

Many people end up with a debt gap once their income has been reduced. No matter whether you are on unpaid leave or you have had your hours reduced, it is important to bring your expenses in line with your earnings, no matter whether it is a temporary or permanent scenario.

Financial illiteracy

A lot of people do not understand how money works. They don’t know how to invest and save for a rainy day. They don’t know why it is important to balance their cheque book. Why should they? No one has ever told them before! Schools don’t often teach the ins and outs of managing your own money. One of the best ways to gain control of your finances is to get educated.

Spending tomorrow’s money today

Banking on a windfall is very, very risky. What if tomorrow’s money never comes? Then, what will you do? Don’t spend the money until it is cleared and in your bank.

british pound notesA lack of communication

If your finances are linked to someone else, i.e. a partner or the rest of your family, communication is imperative. Debt can easily arise when there are no lines of communication and people do not discuss spending styles and financial goals. In most marriages, there is one spender and one saver. If you are the latter, you need to map out a strategy for both of you to use so that you can get what you want.

Not saving enough

Having an emergency fund for a rainy day is of vital importance. One of the best ways to protect yourself from debt is to prepare for unexpected expenditures. You should try to save up between six and three months of living expenses. This will give you a good cushion should something go wrong.

Medical expenses

Last but not least, another reason for debt is medical expenses. Of course, we are lucky enough to have the NHS in the UK. However, a lot of people find themselves in debt when they fall ill abroad because they have not taken out the necessary insurance. Travel and/or medical insurance is so important, and you need to check the coverage to ensure it is right for you, offering the best degree of protection.

 

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Could You Pay Off Your Mortgage Early?

by Magical Penny on June 30, 2017

stamp duty change 2016The idea of living a mortgage-free life is part of the dream for many people, albeit one that might be far in the future. You imagine a sun-kissed retirement where you don’t have to worry about finding the money for rent or mortgage payments; where you have more disposable income as a result than you know what to do with. It’s a lovely idea to consider but, alas, for most people it’s one that will take many years of hard word to achieve.

However… maybe not. There is a school of thought among the financially savvy which suggests that everyone should aim to pay off their mortgage as quickly as possible. Not only will this save a fortune in interest payments, but it could give you a bedrock of financial security far earlier than you ever expected.

If you’re tempted to explore the idea further, then there’s a few things you’re going to need to know.

#1 – You Have To Be Certain Of Your Property

 

f you’re going to be taking big steps to try and pay off your mortgage early, then you need to be sure you’re getting a good deal.

Hopefully you conducted a survey prior to buying a house, but realistically, you probably didn’t: a shocking four-in-five buyers admitted to http://www.thisismoney.co.uk/ that they had bought their home without a survey.

Well, there’s no point crying over spilled milk – if you didn’t get a survey, you didn’t get one. If you’re going to take the steps required to pay off a mortgage early, however, then you need to get one now. You need to consult a construction expert and then the likes of http://www.argyllenvironmental.co.uk to ensure that the land your house sits on is in good condition.

Why do this? It’s simple: you don’t want to go to the effort of paying off your mortgage, only to discover it’s not worth as much as you paid for it. So get the surveys and the all clear before you proceed to the next step.

#2 – You Have To Be Committed

 

If you want to pay your mortgage off substantially early, then you have to be completely and absolutely ready to sacrifice a lot to do so. There’s very little point in paying your mortgage off a year or two early; it won’t make that much of a difference.

You should be aiming to shave at least five years off the repayment time; some people are even more ambitious, and aim for 10 years. It all depends on how your income relates to the size of the mortgage that you have and what you can realistically afford. For example, there’s no point trying to pay off a mortgage of £400,000 in 10 years if you only earn £20,000 per year – that’s just never going to work!

The commitment required to make a substantial difference is big. It means going without holidays, going without the most expensive luxuries in life – tightening belts and being careful with every penny you earn and how you spend it. Can you handle that?

Not only now, but can you handle that in a year’s time? How about five years? Scrimping and saving for a better financial future takes a lot of effort, so don’t begin until you’re sure you’re ready for all it’s going to take.

#3 – Is There A Penalty For Doing So?

 

If you want to pay off your mortgage to save yourself money on interest costs, then that will work out very well for you. It won’t work out particularly well for your bank, though – they’re going to miss out on years of expected interest payments on their loan to you.

That’s why many mortgages will have a penalty if you pay the mortgage off early. Now, paying this might still be worth it for you – you’ll just have to talk to your mortgage advisor and ensure the figures line up to make it worth your while. Most of the time it will still be cheaper to pay the fee than to continue paying interest for the entirety of your mortgage term, but make sure you have calculated this in so you don’t have any unpleasant surprises.

So, do you think you could handle it? There’s no doubt there’s plenty of benefits to paying off your mortgage early. Just ensure that you have taken the right precautions at every stage and know what you are getting into. If you do that, then a glorious mortgage-free future could be yours sooner than you ever expected.

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The Impact Of A Not So Strong and Stable Pound

by Magical Penny on June 20, 2017

brexitThe stock markets have always been volatile to some degree. Each share sale changes the value of any given stock as buyers and sellers negotiate a fair price. What that fair price is depends on many different factors. The profitability of the company, the amount of debt on the books, and the estimated long term prospects of the company or the wider industry are just 3 of many influences on the price.

Countries are valued in a similar way, through the value of their currency. The price of currencies fluctuate relative to one another based on a multitude of factors, including productivity numbers, gross domestic product, and the estimated long term prospects of the country as a whole.

The UK has experienced a lot of uncertainty and surprises in recent months.

The Brexit referendum result last summer injected a lot of uncertainty into the financial markets and caused a lot of volatility in both share prices of companies and in the the price of the pound itself relative to other currencies.

With the recent election result of the Conservative Party failing to win a majority, there is even more uncertainty politically, and by extension, financially. The capital markets do not like uncertainty and surprises. The day after the election the pound fell overnight as it became clear no party had gained an overall majority.

You may think the pound falling in value is a bad thing…

…but we live in a globalised world and many of the largest companies in the UK have large foreign earnings exposure. A weaker pound is good for investors with large exposure to foreign currencies in their portfolio because when converted back into pounds, they become more valuable.

Another potential positive of the uncertainty is that traders can take advantage of the swings in price of sterling, using platforms like Alvexo. Will sterling strengthen over time? Will the Euro be affected by Brexit negotiations? Trading currencies and other securities could be very lucrative if you predict the movements correctly.

financial newsThe volatility in the markets and the price of sterling is sure to continue but to put the fall in sterling into context, the reaction of the markets to the election has been relatively muted. Sterling fell by just 1.7% on 9 June 2017, the day after the election result. This compares with an 8% drop on 24 June 2016, the day after the EU referendum vote.

It is therefore Brexit and its impact that investors and traders are looking at, particularly on the subject of the type of fiscal policy to be adopted. Regardless of the outcome there are opportunities and risks in different asset classes. For example, potential weakness in the economy due to the uncertain economic picture might be supportive for government bonds known as gilts. On the other hand, should the Brexit negotiations become dire and prospects of budget consolidation be delayed, there is the possibility of rising yields due to foreign accounts liquidating their ‘safe-haven’ positions in UK assets and increased risk premium.

Sterling, like the prime minster might not be strong and stable at this time, but there’s still opportunies to prosper if you know where to look. For most people, simply buying and holding is the best strategy for the hope and potential of long term growth, but for others, trading currencies and the markets in these volatile times could be immensely profitable.

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Why should you consider investing in a probate property?

by Magical Penny on June 14, 2017

Whether you’re new to the housing market, or an experienced buyer, you’ll no doubt be on the lookout for the most potentially profitable investments.

stamp duty change 2016

The shrewd buyer might want to consider probate property.  Probate properties are part of the estate of a deceased person, sold by whoever has obtained the right to take responsibility for their legal affairs.  Though they may come with a poignant backstory, if you’re willing to approach the sale from a respectful, sensitive, and open-minded perspective, you can breathe new life into these properties.  Now might be the time to invest, as government plans to raise probate fees remain on hold, as reported here in The Guardian, so we may see an increase in probate property on offer.

Affordability

Probate houses are often sold below market value. Though each probate sale will be different, all some executors want is for you to take the property off their hands as quickly and painlessly as possible.  The Gazette explains here that as time passes, executors of probate properties are also more likely to be liable for Capital Gains Tax (CGT), which might make them more amenable to a lower offer if the property has been slow to sell. As The Huffington Post mentions, the executor will also be subject to ongoing monthly expenses and upkeep of the property.  They may be willing to negotiate a lower sale price to avoid these.

Renovation opportunities

If you’re looking for somewhere to hang your hat for a while, a probate property could be just the place to mould into a temporary dream home, and then ‘cash in’ when you move on to pastures new.  As you’re more likely to snag a bargain on the asking price, this frees up funds for larger renovation projects and redecoration.  Then you can enjoy the fruits of your labour yourself, let to tenants at increased rental value, or resell.  Which brings us on to….

house mortgage UKPotential resell value

If you’re focused on climbing the property ladder, probate properties can give you a definite leg-up.  Once you’ve completed any necessary repairs and renovation tasks, your spruced-up property could make a tidy profit on resale.  And if minimal repairs are required, then so much the better.  It’s worth taking into account the location of the property, and whether the value of that area is rising or declining in value, to assess the potential for a lucrative investment.

It needn’t be too complicated

You may have heard that probate purchase is complex, and this can be true.  But if you seek the right professional help, the benefits can far outweigh this possible disadvantage. And if you know just where to look, it can save you hours of sifting through listings, sitting through auctions or poring over case records from the probate court.  Companies such as Probate Purchasers specialise in the buying and selling of probate inherited property in London and throughout the UK.  Based in Highgate, North London, their team is expert at the ins-and-outs of probate purchase.  They are founding members of the National Association of Property Buyers, which attests to their sterling credentials. 

 

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What To Consider When Moving To a New City

by Magical Penny on June 13, 2017

investing adviceProperty Research

Whether you are looking to buy or rent you are going to need to do some heavy research on the property market of the city you are intending to move to. Consider whether you want, or need, to be in the city centre, or whether you would prefer to be just a little out, on the outskirts in a more peaceful area. Then look at the type of space you will need and then you can start honing in on what your budget can get you.

A lot of the time, when moving to a new city, we can be surprised on how little our money stretches, or maybe you are coming from a larger or more expensive city, so you may be pleasantly surprised that your buck will be able to go that little bit further. So it’s super important that you research the property market, flats, homes and any new interesting city developments here in order to understand what you can afford and what you can’t.

Job Opportunities

So you will also need to really look into the job opportunities there are available in the city that you are planning to move to. If you specialise in something, or work in a mortgagevery niche industry and find that there is little to no demand for it in the city you are considering, that it a big red flag. You need to be really confident that any new move to a new place will come with ample opportunities for you to set yourself up and enjoy a new, successful and lucrative life in your new city.

Go & Explore

Before actually moving there, why not just spend a little time in the city, exploring and getting a really good feel for the place. Get yourself over there for a week, or even just a weekend, to walk around and see what feel you get for the city, the people and the overall energy of the place. There is no point committing yourself to a completely new city unless you give it a mini trial first to make sure it’s a place you can truly see yourself being happy in.

Look at the all the things available in the city that you would enjoy. If you love theatre then see what shows are available and how active the theatre world is in the city. Perhaps you are an enthusiast in some kind of hobby or area of interest, so you should look into groups and organisations that share your interest that you could potentially get involved in.

Set Some Goals

Any new move will bring about certain changes and certain challenges. Therefore before you move, why not set yourself a list of objectives, personal challenges and professional goals. It is easy to get caught up in a new city and new people, so laying out your key personal, professional and emotional objectives can be an important thing to do, in order to ensure that you don’t lose sight of why you are there and what you aim to get out of this new city and this new chapter in your life.

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The Future of Renewable Technology

by Magical Penny on June 12, 2017

The rate at which human beings are using fossil fuels is unsustainable. As a result, there is a strong focus on developing new forms of sustainable technology. Development, unfortunately, continues to be quite slow. However, public awareness is increasing, and they put pressure on governments to follow suit. So what are some of the key renewable technologies we can expect?

lightbulb momentSolar Energy

Solar energy is the most widespread and popular form of renewable technology. Panel developers are noticing more people request a solar quote than ever before. Solar radiation sends some 174 billion mW of power to the planet’s upper atmosphere. While around 30% of that is reflected back, the atmosphere, land masses, and oceans absorb the rest. In just one hour, there is more solar energy available than what the entire planet uses during a year. However, harnessing it can be quite challenging. Solar panels are the most popular way of collecting this energy, but it does have some limitations, not in the least that the technology is in its infancy. The most positive development is that the technology is now more affordable, making it a popular home renovation. The greatest difficulty at present, however, lies in finding methods of solar energy storage.

Wind Energy

Wind energy is also very attractive. However, there are significant pros and cons associated with this as well. The biggest advantage is that the wind is quite abundant the world over. Three principal disadvantages, at present, are:

  1. It is expensive, making it difficult to access for domestic properties.
  2. It is noisy, making it less attractive.
  3. It requires electricity to run, which means it is not 100% renewable.

Oceanic Energy

Our planet is covered with seas and oceans, and their currents are strong, creating energy. Both their salinity and thermal gradients can be harnessed, known as oceanic energy. Electrical energy can be created using the energy from waves and currents. Meanwhile, the osmotic pressure difference noted between fresh and salt water can generate power, as can the temperature differences at different depths. Unfortunately, there is little knowledge on exactly how this power can be collected at the minute, but progress is made.

Antimatter Energy

The most innovative idea looked at by scientists today is antimatter energy. The theory is that if matter and antimatter collide, they will release lots of energy by annihilating each other. Presently, this is only a theory, not in the least because we don’t yet know where to find antimatter.

Scientists constantly look for new ways to find the energy and to use it for the benefit of humankind. This is likely to continue for the foreseeable future, at least until something that is truly renewable and sustainable is discovered. While oil continues to be the most efficient fuel for the economy, it is a fossil fuel that is in limited supply. Not just that, it is also a heavy pollutant, which damages the environment in many other ways. By raising awareness and researching new technologies, scientists, climatologists, and other officials aim to make a real difference in the not too distant future.

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How You’re Slowing That House Sale

by Magical Penny on June 12, 2017

house questionThere are a lot of different factors that play into buying a home.

Circumstances can make things a little more complicated sometimes. But if a home sale is straightforward, it shouldn’t take any more than twelve weeks from the moment a price is agreed. But the truth is that there are a lot of buyers who don’t see the keys until a lot later than that. You’re not in control of all the factors that can delay a house sale, but for those you are in control of, you should be helping speed things along, not slow them down.

 

You’re not communicating

Having yourself as prepared as possible from the moment you talk to the seller is the best place to start off from. For instance, a lot of delays are caused by a mortgage lender not being a part of the process early. Mortgage lenders are busy people, after all, so the sooner you get in touch with them with things like timeframes you’re working in and deadlines, the more time they have to make sure you meet them. Similarly, if you’re planning on making conversions or extensions, a lack of planning permission can slow down the conveyancing process. Keeping everyone in the loop of changes and demands is essential.

You don’t have the legal ball ready to roll

It’s an unfortunately common mistake that buyers don’t know they’re going to need legal help with buying a home until they have a price and everything agreed. This means that the seller could be ready to get things started on their end but you need to get a conveyancer. What conveyancers like Bannister Preston do includes things like finding out what local authorities are responsible for what so you have a clear understanding of any proposals or developments in the future that will affect the property or issues with planning permission as mentioned above. As soon as you start looking for properties, you should have this essential partner in place so they can keep you informed all throughout the buying process, instead of forcing you to wait.

You’re beating around the bush

Many people far too long waiting to get to the point where a sale is agreed in the first place. Negotiating well is an important part of buying the house. But taking too long trying to negotiate isn’t only going to slow the sale, it might frustrate the buyers to the point that they no longer want to deal with you. Make sure that you already have an idea of your needs and wants in mind, that your negotiations are backed up by evidence like a home inspection, and your expectations are reasonable. The negotiation part of the sale shouldn’t necessarily be rushed, but no-one wants to spend a month talking without reaching any agreements.

Again, you aren’t the undisputed master of how smoothly or not a house sale goes. All you can do is make sure you’re not making the mistakes above and keep things as ready to go from your end.

 

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Tips for Managing Your Money When You’re Disabled

by Magical Penny on June 9, 2017

ImportantWhen you’re living with a disability, life and managing your finances becomes much more difficult than it is for the average person, especially if your disability means that you can no longer work for a living.

It is important, though, that you do not panic when it comes to thinking about your financial present and future. Although living with a disability can present many financial challenges, there are lots of things you can do to help you live a bit more comfortably and not have to worry about money so much. Read on to find out more…

Could You Be Entitled to Money?

If you are disabled, there is a decent chance that you could be entitled to more money that you are currently receiving. For example, if your injury was caused in an accident that wasn’t your fault, and you haven’t already consulted a Personal Injury Lawyer, doing so could see you awarded thousands of pounds to help with your care and your daily living needs if it is deemed that you are entitled to compensation.

Alternatively, you might be entitled to more benefits that you are currently claiming. If you are between the ages of 16-64 and you have a disability or long-term debilitating health condition, you could be entitled to claim Personal Independence Payments, Disability Living Allowance or possible even Employment Support Allowance, depending on your circumstances. If you’re over pensionable age and you need help at home, you might be able to claim Attendance Allowance, which will help you to get the extra support you need.

I know a lot of people don’t like to claim benefits, but if you are entitled to them, they could make your life so much easier and ensure that you don’t fall into a total financial black hole, so please do see advice and make all of the relevant applications as soon as possible.

Plan for the Future

If you’re on a fixed income, which you will be if you are not working, then it becomes even more important to plan for the future. Sit down and make a list of all your regular expenses, like your rent or mortgage, your bills and the cost of clothing and food. See how much you have left over once the essentials have been paid for and consider redirecting some of that amount to a savings account or investment portfolio. Just because you are out of work doesn’t mean that you can’t, if you’re careful, put a little away for the future, if you’re careful. Obviously, if you’re on the breadline, then taking care of your immediate needs, and possibly getting in touch with your Citizens Advice Bureau or a disability charity who can help you, will be more important, but if you have any disposable income, consider investing it wisely, so that you won’t have to rely on the state pension alone when you reach retirement age.

Set Up a Pension

When you’re planning for the future, you might also want to think seriously about investing in a pension. A lot of people think that because they are out of work they cannot invest in a pension, but it is possible to pay into a stakeholder pension when you’re sick and out of work and it will help you to provide a more secure future for yourself.

Cut the Cost of Your Weekly Shop

If you’re just about managing and finding it difficult to pay for the basics in life, a few simple lifestyle changes could help you to save money and improve your quality of life. One simple thing you could do to cut the price of your weekly grocery shop is to switch to own-brand foods. I know we all have our favourite brands, but most of the time, when you try the generic stuff it is as good as or even sometimes better than the brand, and since it’s significantly cheaper, you could save hundreds of pounds each year by making the switch.

When you’re shopping, it’s also a good idea to find a cash machine that doesn’t charge a transaction fee for withdrawing your money. I know paying £1.50 to withdraw some cash doesn’t seem like much, but even if you only withdraw money once a week, that adds up to £78 a year more in your pocket. If you use ATMs that charge more often than that, you can quickly see how it adds up and makes you poorer. If you can’t make it to a free ATM, see if a trusted friend or family member can withdraw the cash for you, or just use your debit card to pay at the till.

Turn Your Appliances Off

Instead of leaving everything on standby, turn them off when they’re not in use, and you could save as much as £30 per month, depending on how much electricity you use. You can then use these saving to treat yourself or to go toward your heating bills and the weekly shop shopping.

Buy a Pre-Paid Prescription Card

Another good way to cut costs is to buy a pre-paid prescription card if you do not qualify for free prescriptions, but you take a lot of medication on a regular basis. A Pre-paid prescription card costs just £104 for a year’s supply of prescriptions and considering the individual cost of one prescription is £8.40, you could easily make significant savings by paying in advance.

Talk to a Debt Counsellor

If you have only recently become disabled and you were previously in work, and if you have accrued debts during your time working which now need to be dealt with, you really should think about making an appointment with a financial adviser or debt relief counsellor. The last thing you need at this time is to be worried about debts when you should be concentrating on your own health. A good debt adviser will be able to help you work out a repayment plan that is fair for you and your creditors and in some circumstances, they may be able to have your debt quashed completely, so it really is worth a try if you’re struggling.

 

 

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Your Responsibilities Directly After You’ve Sold Your Home

by Magical Penny on June 7, 2017

After successfully selling your home, you might receive a feeling of elation that lasts for several days.

remortgage house loanThe house move is finally considered ‘real,’ and now the long march to your new life begins. What an exciting time this is! It’s a time for you to stretch your horizon, and move to a new location in pursuit of a lucrative career or other general life change. This is a time to be happy and reflect on all of the possibilities headed your way.

You’ve managed the selling of the house through a professional property estate retailer like HungryAgents.com, you’ve put an offer in on the new house and it’s been expected, and your career seems to be blossoming. After all this good news, it can be difficult to remember what responsibilities you have to the homeowner after you. However, as a general moral principle, it’s worth taking care of these before you leave. Just because you’ve sold the house doesn’t mean you need to leave it in a state of disrepair.

Put yourself in the shoes of the family or person who’s’ moving into your property. What would you like to see as soon as you step over the threshold? This article will help you stimulate this imagining, and leave your property in the best position you can before you leave for good.

Clean

No matter how clean you believe you live, it’s important for this last clean of the household to be one that’s almost over-the-top. It’s not virtuous to leave a property dusty or dirty before you leave, and even though you might be able to get away with it, it doesn’t necessarily spawn good feelings in those you’ve just had a successful business relationship with while selling. Make sure to polish all surfaces, remove all grime from the exterior walls with a power blaster, and clean the carpets.

Repairs

It’s not your job to secure significant home repair for those moving in, but it is your job to take care of the little repairs that could become an issue for the new tenants down the road. Leaky pipes? It’s important to fix them now, simply, and prevent a horrible incident occurring for the new family moving in. Just be a responsible homeowner, and repair what’s necessary, without fixing the big faults that you agreed the new tenants would fix in advance of the contract being signed.

Upfront Costs

You need to be upfront about the costs your house will need to repair certain areas. If there are places lacking in polish, it’s important to be forthright about this, as well as providing a cash estimate for your new tenants to help factor into their costs. If this is the case, consider dropping the asking price of your property somewhat to help them mitigate the repair endeavor.

Energy

Take care of all the energy bills and make sure your tariffs are closed before the new family comes. This stops them from being stuck with a nasty energy bill that they shouldn’t be liable for. Be upfront with your energy companies that you’re planning to move months in advance. Before the line is even signed on the sale contract, your energy company should be aware that an offer has been made and you’re about to accept it. This will allow them to cancel the necessary packages on the most convenient date for you and the new tenants.

Before you leave for good, cover any furniture you’re to leave behind with some dust sheets, and secure the property effectively so as to prevent anyone breaking in who has noticed you’re moving. You can now move into your new home, resting easy in the knowledge that you’ve carried out your moving duties to the best of your ability.

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