Posted by Stuart on Jun 12, 2014 in Money saving Tips | 0 comments
Although working at home has many perks there are some dangers waiting hidden in our tendency to feel comfortable as much as possible. There is a risk in making your home a working place next to your children playing or your family members having fun or even fighting each other.
Take care. Working at home can be really great if you are careful enough. Try to follow these tips and rearrange your home into a perfect working office.
If you are working at home, you enjoy greater freedom to design your office as you wish and you should try to do it best. Let’s start from your chair. Choose it wisely. The chair should be comfortable enough to make you want to spend all day in it, but also not too comfortable for you don’t want to fall asleep every time you touch it. We suggest choosing an ergonomic chair. Look at your arm position and see if they are parallel with floor while typing. This is the most productive way to place your working table.
If you place your table close to the windows you will have a lot ofdaylight and also a beautiful sight to rest your eyes during breaks. This is very important because studies have shown that people are more productive if there is more light in the office, but they are also lethargic during winter. To avoid falling into apathy try to place a few lamps on your table and use them whenever the sun doesn’t enter your room as much as you need it.
The table for work is not the only thing that you need for your home office. You will probably need a place for rest, for reading or making phone calls. Everybody has to take a break from time to time. Make your special corner with a comfy armchair, ottoman for your legs, table for your coffee and a big lamp for reading. You don’t want to exit your home office for every little thing that you need. So, keep your coffee in your office, water or other drinks, but try not to have lunch there. You can exit once during your working hours and have a meal in your kitchen or in a restaurant, and eating inside the office does make you stressed.
What about the things you are looking at while working. We have already mentioned the importance of placing your table close to the window to have a nice view. You could plant some flowers and add greenery into your office. Carefully choose which pictures you will place on the table. Choose only those that make you feel happy and inspired. Get rid of everything that make you nervous or depressed – this is your office and you must make it look as you want it.
Most of the people who work at home use the computer most of the time.. Try to update all your programs on time to avoid loosing your data. Always have the best hardware and all the gadgets which can improve your work. Never spare money on things that are important for your work. And enjoy yourself!
Posted by Stuart on May 30, 2014 in Money saving Tips | 0 comments
Oftentimes people are very concerned with saving money, and rightly so. I’m all for streamlining your cashflow, analysing your income and outgoings, and deducing the best fiscal way forward. Spending the least you can, whilst taking in the most possible is simply put, the most efficient way to incrementally gain money ultimately.
But it’s naïve to imagine that all one has to do is cut costs to end up with more cash in the end. What goes unexplored is the idea that you have to (in a calculated way) sometimes spend amounts of money you otherwise wouldn’t have, in order to end up saving yourself a lot more.
The Little Things
You could start with small purchases that will end up saving you money in the end. Changing your diet and health by buying the utensils and kitchen apparatus to accommodate a more vegetable heavy intake will prevent you from having to take measures to repair damage from bad dietary habits when you’re older.
Making sure you’re prepared for any eventuality is invaluable. Make sure you’re stocked up on essentials at home. Make sure you’re always fully stocked at work; if you’re caught stretched thin for resources then you’re standing to lose money in the long run. Websites like Internet-Ink sell office supplies, printer cartridges and the like for cheap so don’t squander business opportunities.
Bigger things can include investments, if you spend what seems right now like a great amount on property, you stand to make it all back and more in future with the population rising and demand for property always on the increase. Or buying stocks in an emerging market, only takes a little research to do responsibly- imagine Apple’s first stock holders, they can’t have been too surprised when it took off.
All you need to do is think critically about what technology or services are likely to become more valuable in future. Personal hint: In my estimation water is going to be worth more than gold in a few decades. I’m not saying buy a reservoir full; only that predictions about the future can lead to smart investments.
It should be a case of taking an objective look at your circumstances, and gaining a bigger perspective. Measuring cashflow on the small scale can be counterproductive. Striving always for immediate signs of progress is short-sighted. I used to work in SEO and so many clients rendered their first payments redundant when returns weren’t seen straight away, and it’s just sad to watch from a professional point-of-view.
I suppose the right attitude towards money reflects into all areas of life. Loving relationships even take patience and work, so why should the monetary world be much different? Think about 5 years ago how fundamentally different so many things in your life were… Another 5 years from now they’re likely to be even more dissimilar.
I heard a wise man say “The early bird gets the worm. But the second mouse gets the cheese.”
Posted by Stuart on May 24, 2014 in Money saving Tips | 0 comments
If you’re currently out of work or bored by your 9-5 job and dread the daily grind of the commute, you could make just as much money by working from home as a freelancer.
Working from home means that you don’t have the expense of travelling to work, there’s little need for a suit unless you are meeting clients or attending meetings and as you are self-employed, you are effectively your own boss.
To work from home there are a number of things you will need to consider and arrange first. These include finding a work space, registering to pay tax and finding work.
If you are lucky enough to have a spare bedroom, this can easily be converted into an office space. You don’t need lots of equipment, just a computer, somewhere comfortable to sit and a printer. A small amount of stationery such as pens and paper will do for most jobs, there’s no need to invest in a large number of items you may only need a few times. If you don’t have a spare room, look to find a table in the home you can call your own. Ensure it’s as quiet as possible and that you aren’t constantly being disturbed by family members interrupting. If you can’t find a space where you can keep everything organised and away from others who may move it do their homework or eat their dinner there, consider using a local coffee shop. Many start-up freelancers use a coffee shop as their ‘office’ and it’s not unusual for it to be a base for months and in some cases, years. Be considerate in your use of this kind of environment; buy coffees and drinks during the day, don’t take up much space and get to know the staff.
You will need to register with HMRC to pay your income tax each year now you are self-employed. This can be done by registering to file a return online and there’s no need to employ an accountant if your tax affairs are fairly straight forward. Talk to HMRC about your National Insurance contributions as you may need to pay them; there are easy ways to do this such as by direct debit.
Finding work as a freelancer depends on your skills and expertise. You’ll need your CV bringing up to date and a number of copies if you’re planning to knock on doors of local businesses. If your skills lay in marketing, technology, public relations or translation, you can build up a client base through sites such as PeoplePerHour where you submit proposals for jobs.
If you’re setting yourself up as a freelancer and need a small amount of cash to get things going – to buy an office chair perhaps or some business cards, visit Payday-choice.com to evaluate payday loans online to find one which will help you out whilst you get started.
Working as a freelancer takes dedication and a commitment to managing your own time. However, the freedom it gives you to pursue working in your chosen area of expertise and to know that you only have to get from your bed to another part of the house to start work are benefits you’ll soon never want to swap for sitting in an office miles away from home again.
Individual retirement accounts (IRA) are confusing to anyone but when you start to consider and talking about IRA rollovers it can be more confusing and intimidating as well. This article will help to serve as a guide to simplify the IRA rollover definitions as well as how they work.
What Is An IRA Rollover
An IRA rollover is a way to stay free of taxes for your retirement benefits that you have received from a plan that is sponsored by your employer. Any taxes that this account are subject to will be deferred until the date the funds are withdrawn.
What To Consider
When you are considering an IRA there are many decisions that need to be made such as will you want to withdrawal all of the money when it comes time or just part of it, do you want to pay taxes now or later, and do you want to pay tax only one time and not with every withdrawal. These are all decisions that you need to consider before deciding whether or not you will want to roll your IRA into another IRA. Of course there is not a right answer that will work for everyone it will be strictly your decision as everyone has different financial circumstances.
Taking Your Money Now
If you decide that you want to withdrawal your money now you will find that this can be a pricey decision. Thee is a law that states that if you are withdrawing your money the plan is required to keep at least twenty percent to use as a payment toward the federal income taxes. What this means for you is that you have already spent a large portion of your retirement income. However if you are not the age of 59 ½ you will be subject to another ten percent as a prepayment penalty.
Deferring Taxes Until A Later Date
If you are looking to not pay any current taxes what you will need to do is have your individual retirement account money transferred into another IRA directly. This is called a direct rollover. If you are leaving your current employer you should leave the money in that plan and transfer it directly into the plan offered by your new employer. You should discuss this option with your current employer to be sure you understand how it will work. It is important to understand that you must request a direct transfer otherwise you will be subject to the twenty percent tax withholding.
Benefits Of An IRA Rollover
When you are considering an IRA rollover you will come to realize that there are many benefits. The first benefit is that you will maintain the tax-deferred status of your retirement savings account. This is important if you do not want to be subject to a twenty percent tax penalty. You will also be eligible for a penalty free distribution if you wish to take a distribution before the age of 59 ½. This can happen if you are using the money for a first time home purchase, higher education expenses, medical expenses that qualify, unemployment expenses, or death and disability.
There are many other questions that can be asked and answered when it comes to an IRA rollover. It is important that you have all of your questions answered by a professional before taking any action on your individual retirement account. There are financial professionals that are experts at IRA accounts and can help to steer you in the right direction. The other option you have is to speak with your employer about how to handle your IRA rollover. When in doubt ask questions. There is never a stupid question.
Posted by Stuart on Apr 11, 2014 in Money saving Tips | 0 comments
Credit decisions are majorly based on the credit ratings of an individual. Anyone who understands the way these credit scores are calculated and the factors which constitute to the score, can be in a better position to deal with them.
If you want to know that how important credit scores are for you, you must be well aware of how exactly a credit score works. If you are well aware of this then consider yourself ahead of the majority of people in your league with your knowledge.
First of all you must be aware of the breakage of scores which is done in five categories which are lined below.
1. Payment History
2. Debt to Credit Ratio
3. Length of Credit History
4. Types of Credit Used
5. New Credit Applications
Payment History – 35%
Payment history is very crucial in calculating your credit history as this makes up the largest portion of your credit history. As obvious making timely payments would build up your credit and making delayed or defaults in payment would do it otherwise. The longer time you would take ion settling your dues the more you would cause a lot more damage to your credit score. If you delay your payment by 30 days it would cause harm to your credit score which would be equivalent to 90 days. The only sane thing which you can draw out of it is that late payments only affect your credit score for 24 months.
If you find yourself in such a situation then do not forget to make all the amendments in order to rectify this and does everything to deal with late and delayed payments also make some type of negotiations with your lender to get the payments current. If the account is charged then your score would be affected and would stay the same for more than 24 months.
Debt to Credit Ratio – 30%
Debt credit ratio is the second major option which affects your credit score. Many of us don’t know the real meaning of debt credit ratio at prnewswire recent launch. We are in some kind of confusion regarding this term, thus it is important to know about two accounts which influence your credit score and history.
1. Installment Loans – these loans are fixed in nature and you have to make the payments on monthly or such basis. Example for these is mortgage, car loan, student loan etc.
2. Revolving Loans – these are very important for making up your credit score. These are all the credit cards which you own from master to visa to discover to American express.
The ratio between the amount you owe and the balances on your revolving credit loans is directly proportional to your debt to credit ratio. Installment loans hold lesser weight and have less impact on your credit score. It would affect your credit score only if you make any default in payments. If you want to figure out your debt to credit ratio then you will simply have to follow this. Just add up all your total credit limits and note that. The write down how much you owe on each card. Divide both the numbers and that would be your debt to credit ratio.
Length of Credit History – 15%
Length of credit history is the third major thing which affects your credit score. If your credit is for longer duration then it would prove to be fruitful for you and your credit score. The people who have credit score above 700 must have had credit for long duration, good payment history and high credit limits with low balances and favorable debt to credit ratio.
You must follow a tip in order to avail good credit history or score, while establishing credit especially when it involves revolving lines of credit like credit cards, never close your accent. Keep all your accounts active for long period of times. If you close account then it would devoid you of all the good credit history which is linked with that account. It thereby increases your debt to credit ratio which would lower your credit score.
Types of Credit Used – 10% of Your Credit Score
There are two types’ accounts which you can use while taking loans for repaying your dues they are: revolving account and installment account. There must be favorable balance between the two types otherwise it would lead to increase in debt to credit ratio and which would lower your credit score eventually. Thus if you have three credit cards then three installment loans would be a good balance for you.
New Credit Applications – 10% of Your Credit Score
The final leg of categories which affect the credit score of a person is credit applications. Whenever you apply for credit your credit scores drop down cause of enquiry which the creditor makes. But if you apply for only one credit card your score is not likely to drop but on the contrary if you apply for a number of credit cards and loans then your score will obviously drop that too significantly. The credit bureaus generally penalize people who go for multiple loans or credit as they are trying to get more and more into debts.
If you are making inquiries of rates for mortgage or automobile loan, inquiry within 30 days will not have any effect on your credit score if you get approved for that loan within 30 days.
The enquiries on your credit stay for 24 months in your credit history and normally have less impact as the time gap lifts. An inquiry only happens when you apply for credit; in case you are pulling your own credit then it would not lead to any inquiry.
Posted by Stuart on Apr 11, 2014 in Money saving Tips | 0 comments
So not everyone is a miser. You might want to live a flamboyant life. But the question is does your income support your desires? Are you living the paycheck to paycheck life in order to support your life? Well, if the answer is yes then you will have to stop doing it right away or you would sooner or later find yourself in a mess.
Maybe you don’t realize it now but you would in the near future when you will crave for stability but it would be a distant dream instead.
Ways to Earn Quick Money
So in order to earn some quick cash you can host a lavish garage sale. This is a good and fast means of earning good amount of cash in hand. Plus it also comes with another fringe benefit that is you get rid of the things you apparently don’t need at your home. So don’t get emotional with that stuff lying in your house and put that to use for making some cash which would equip you in many ways. It is like getting two-fold bargain. Plus you don’t have to incur any extra cost for hosting a garage sale. It is better to give away useless items and ear some quick cash using it.
Small Home Businesses
If you have any hobby or something which you think you can use for earning some cash, then it is the right time to pursue it. Try and indulge into a small time business which will help in covering your expenses and which would require minimal expenses in setting up. For instance if you bake well then start a bakery class for kids or ladies at your place. You can this way groom your skills and put your idle time to use and at the same time earn some cash. Take tuitions, guitar lessons or painting lessons. Hobbies can actually help you in earning good cash then why not make use of it. Plus it is always good to have a profession out of your hobby. This way you stay a lot more focuses and motivated.
You can apply for part-time or freelancer jobs. There are many jobs out there which require you to work for few hours. For example there are many online sites which ask you to generate meaningful content for them and in exchange they pay you according to your skill and experience and industry standards. There are many temporary jobs which you can look for in order to kill your financial crunch. You can even start up with blogging if you are good at writing or something creative. Go for babysitting, gardening, work at a bookstore or library. In order to settle down your dues you can take help of such part-time jobs. This would also keep you way from falling prey to the hands of lenders and loans.
You can even start coaching students at your own place for money. If you are good at academics or any particular subject then you can use your knowledge in teaching or tutoring your neighborhood kids. You can also give guitar coaching classes or bakery classes. It all depends on your innate skill and competencies. This is a very good way of self employment and requires practically no investment to set up.
Ending Paycheck to Paycheck Lifestyle
There are some easy ways using which you can cut down your expenses and end your paycheck to paycheck lifestyle. You will not have to take any additional personal loans with bad credit as well for settling your dues and paying for your expenses. Some of these methods are outlined below.
Cut Down Unnecessary Expenditure
You are not a kid anymore. You are an adult and will have to pay for your own bills. So, stop making unnecessary expenditures and putting yourself in unfavorable financial conditions. Keep a tab on your expenses and plan before making one. If there is something which requires heavy investment then think more than twice before going for such expenditure. Adopt various techniques to save some money for example go for car-pool or public transport try and cook your lunch instead of eating out that often. Check on discounts before buying something or going somewhere. You will be shocked to see the result afterwards. Planning your money and using it wisely can help you achieve financial stability.
Make a Budget
Budget should be a must for you. You must know your expenses and the money you have to pay for those. You must have a concrete budget to make good use of your available funds. A proper budget can help you in saving and mapping your expenses. A proper plan can prevent you from making unnecessary expenses. Budget can easily make you responsible and put an end to your paycheck to paycheck kind of lifestyle. Also the total amount in your monthly budget should be less than your income in order to make room for saving money for future contingencies.
Start a Savings Account
This is a rule which every adult should follow. Having a savings account cultivates a habit of saving in individuals and it also makes them responsible about their money. Plus it also protects them from making unwanted expenditures. Savings account also gives you interest. Thus your money is actually multiplying without you doing any work. It would obviously relieve you from your paycheck to paycheck lifestyle and also it would make you self-reliable to face future contingencies.
These are just a few ways which can help you manage your finances well. However, the key to successful financial management and keeping debts at bay is to keep your expenses limited to your needs and postpone your desires for a better time.
Page 1 of 1512345...10...»Last »