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4 Ways To Own Real Estate

March 6th, 2017 Posted in Property Investment
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Getting on the property ladder is becoming increasingly more difficult. Before taking the dive into real estate, it’s important to consider all your options. Here are the four major ways that you can own property.

Traditional Buying

Traditional buying is still the main route into property. This is where you buy both the building and the land. Many choose to go through real estate brokers to find property. Finding a seller direct can sometimes be cheaper, but limits options. Some agents may charge buying fees, but this is generally reserved only for sellers. In either case, negotiating the price is recommended – you should aim to haggle of 5% of the value if you can.

You can also buy property off of an auction. Auctions are also a great opportunity for flipping property – discussed later on.

Leasing

In most cases, leasing property involved renting for a fixed term. This could be anything from a year or more. Some lease opportunities are more flexible than other – you may own the property, just not the land. In this instance, you may be able to make minor adjustments to the house as if it were you own. When it comes to traditional renting, hammering a nail in the wall might need permission from your landlord. Leasing is only half owning property, but is a cheaper alternative to buying and a more fixed alternative to renting. In many major cities around the world, the bulk of property is leased.

Self-building

Can’t find a property that meets your criteria? You can always build your own. It can cost up to a third of the price of buying (building and buying the land included), with the option of a self-build mortgage preventing you from having to pay outright. However, it can be a lengthier and more complex procedure. Whilst hiring architects, solicitors and builders isn’t too difficult a task, buying the land is a complex procedure. Land may be environmentally protected, may have limiting restrictions set by a local planning committee or may be physically unbuildable due to the ground. Before buying always check with the current landowner as to what the current restrictions are. In most cases you may negotiate prices.

Flipping

Flipping involves swapping one property directly for another, and so requires you to already own some form of property. By doing it effectively, you can earn a lot of money. Fail to flip correctly and you’ll lose a lot of money, making it a risky venture. Many who get involved in flipping property will buy property off an auction, possibly renovate it and then sell it for a profit. You can flip property without being worried about the profits however – if you want to directly swap with someone to a property that is less value but may be in a better location, you can do this.

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How To Survive The Next Big Economic Meltdown

March 2nd, 2017 Posted in Money Tips
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It is NOT a matter of IF another economic collapse happens, it is a matter of WHEN and HOW you can prepare for. We don’t mean to be fear-mongers or cynics, but history would suggest the world cannot operate without an economic crash every so often. It could be a political move that sends us spiralling down, perhaps Trump will annoy Putin or vice versa. It could be that the next generation of bankers doesn’t remember the risks they run, get greedy with mortgages again and see another bank too big to fail actually fail. It could be a zombie apocalypse that sets it off.

The point is, any economic collapse will worsen spending habits, poverty, disrupted social order, protests and maybe even violence is inevitable. That is why you should always prepare for the worst. And here is how you can do that.

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Your Finances

This is a huge part of protecting yourself from the turmoil of a crash, and your first move should be saving up an emergency fund of at least $1000. Once you have reached this figure, divert all of your attention to paying off your debt. Once that is done, go back to increasing that emergency pot of yours, and make sure you keep it separate from all of your other accounts. Temptation can be a hard thing to resist. The reason for this is simple; an economic crash sees people lose their jobs and it can be near impossible to land yourself another role until the economy picks up again. If it is a total crash, then you need to protect against the unknown, which will be you not being able to access your account. As such, it is worth having your emergency fund available in cash, cold hard cash, or consider stocking other commodities like gold; anything that can be used to barter.

Clean Water

When an economic crisis happens, a serious one, it is possible that certain supplies may get cut off, such as water and power. Now, it can be hard to store power, unless you have a generator, but you can store water. So make sure you have a stash of drinking water than can be used for drinking, hygiene, and cooking. As a rule of thumb, store a gallon of water for each person, and store it in a clean place.

Food Supply

This is not a grocery shop. No. Storing food for an emergency means buying non-perishable goods. This may seem like a drastic measure to take unless you are in a war zone, but an economic crash can see fuel run out and prices of essentials sky-rocket, so make sure you have enough food to cover you for when times get hard. This should be stuff that doesn’t require refrigeration and has all nutrients you need to sustain a healthy and balanced diet.

Emergency Kit

Once again, in an economic crisis, these items tend to go quickest, so make sure you have a stockpile of specific items that you may need in an emergency. These are things like blankets, multi-use tools, matches, battery-powered radio, cell phone, charger and maps, and torches. You should also make photocopies of any proof of ID and address, as well as have first aid supplies just in case. Know the contact details of family and friends that you may want to contact and, if you have a baby, then make sure there is a supply of nappies, food, and formula.

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Beat The Stress Of A Financial Crisis

March 2nd, 2017 Posted in learning about money, Money Tips
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Because money has so much influence over our quality of life, running into a financial crisis can be extremely stressful. Having worked so hard to attain some level of financial stability, one stroke of bad luck throws it all into the air, and can leave you feeling like your life is slipping through your fingers. If you’re in the grip of a financial crisis, here are some of my best tips for dealing with the stress of it all…

Close Off Avenues to Easy, Frivolous Spending

One of the most challenging aspects to recovering from a financial emergency is a potent sense of hopelessness. When you lose all sense of structure in your personal finances, it can be very hard to figure out exactly where your money is going. The best response to this is pinning down all the most obvious leaks, and cutting off your avenues to easy, unwise spending. Deleting online accounts you shouldn’t be using, leaving some of your credit cards at home when you go out, or taking cash out to set yourself a firm budget are all good ideas. While this won’t fix the problem entirely, it will certainly plug some of the leaks, and give you some more wiggling room for figuring out your next steps.

Draft a Plan

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Once you’ve stopped money haemorrhaging from your account, the next step is devising a plan to tackle whatever’s at the root of your financial emergency. Whether it’s heavy debt, retirement coming up too fast, or a health emergency, you’re not going to make much progress without a plan in place. Start off by getting onto Google, and looking up all the information you can about dealing with your specific situation. There’s all kinds of great resources available, informing you on preparing for retirement, debt reduction, and pretty much any other financial issue you can imagine. You may also want to research companies which deal with your kind of situation, such as New Era Debt Solutions and George T. Bochanis Law Offices. Once you’ve done enough research, it will be so much easier to start setting out a plan with measurable, time-constrained goals for working your way back to financial stability. As the old adage goes, failing to plan is planning to fail!

Don’t Hide Things From your Spouse

Financial challenges can bring marital constraints down on your head like nothing else. Money problems have broken countless marriages in the past, and this certainly isn’t going to change any time soon. The best way to avoid any relationship constraints over money is to be as honest as possible with your spouse. Never hide anything from them, no matter how noble you think your intentions are. Put all your cards on the table, and give them all the gory details about your money blunders and challenges. While a financial crisis can be a massive weight on both your nerves, every relationship hinges on honesty and self-reflection, no matter what else is going on in your lives. Don’t let money get in the way of something more important!

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Ways to Save on Daily Expenditure

March 1st, 2017 Posted in Money Tips
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Ways To Save on Daily Expenditure

Saving money is something that everyone could agree is a good idea. While not everyone has to rub pennies together to get by, a tighter budget might not necessarily be such a bad thing. There are many people who have seen the benefits of making their money stretch a little farther. If this is something that you too are interested in, you can find five quick tips to help you limit your spending without limiting yourself.

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Cut Out The Extras

You might be able to save quite a lot of money just from limiting the areas that are high cost with low usage. A great example of this would be your home phone (landline). It is easy to get caught in an idea that having a landline is great for emergency situations or to limit the use of your cell phone while you are at home. But given that nearly all wireless plans are now offering unlimited minutes for even the most basic of packages, you are adding an unnecessary bill each and every month.

Energy Efficiency

While it is certainly a noble effort to “go green” for the environment’s sake, being energy efficient for your wallet’s sake might inspire you a little bit more. There are a few ways that you can help cut your costs, and subsequent energy consumption.

  • Make sure that all of your windows and doors are sealed properly. Drafts through any season cost you money, as they require either your air conditioner or your furnace to work more than it should have to in providing the ideal temperature you have selected.
  • Ensure that your electronics are not just turned off, but completely unplugged if they are not being used for a while. Even something as simple as a phone charger can draw a lot of energy throughout a month just from being plugged in.
  • Cut your thermostat down a few degrees. A simple change like this could spell big savings for you, even if you have to wear a sweater some of the chilly nights.

Shop Around Online

The internet is a vast marketplace and a plethora of information. When you are utilizing the latter, you should appreciate the simplicity of your shopping experience and take full advantage of your ability to instantly shop around. Some websites are big on competitive pricing, without skimping on the quality of the products they offer, from foods, clothes, hobbies, entertainment, office supplies, home improvement and even travel, a vast choice for wants and needs are offered. A few great examples would be www.tkmaxx.com, www.sportsdirect.com and Glasses Direct. If you combine quality eCommerce experiences like these with the use of promo codes and coupons then you can really see some big savings.

Use Coupons and Price Matching

Printable coupons to use in physical stores are kind of dying out, but it isn’t gone completely yet. So as it stands right now, this is a suitable means of saving money. The trend that is taking over physical retail locations now is price matching, which most of the major stores are doing in an effort to stay competitive and promote customer loyalty. You only need to show your cashier a competitor ad featuring a cheaper price on the product you are buying, and you get it for that rate. It’s simple and it keeps you from having to drive all over town hunting good deals.

Consolidate Your Car Trips

The last point goes directly into the next way that you can save money on a tighter budget, and that is through consolidating your errands into a single trip when possible. You might not live all that far away from your local grocer, but that little bit of gas really will add up quickly when you are making several trips a week. Stock up, plan ahead, and consider all of the things that you need to do and attempt to make those all happen with as little wasted gasoline as possible.

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These are five quick tips (that are really easy to do) that can have you saving money this month. With just a few changes to your routine, and a few minor changes to your life, you can make a tight budget not feel quite so limiting.

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Hug your kids at home, and belt them in the car

March 1st, 2017 Posted in Uncategorized
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That day we pass our driving test, get our license and the keys to our very own car is more than just a pass, more than just a rite of passage and a thing to do; it is a child’s first step to freedom. It allows them to explore the world a bit more, gain some independence and financial freedom, and it allows you – the parent – the chance to have a little more time for you.

However, as wonderful as cars are, they are also extremely lethal and demand respect and responsibility. After all, they are still one of the biggest killer’s in the world and can destroy more lives than just those involved in a crash.

What’s more, those between 15 and 25 are at the most risk. That is why it is so important you teach your children the importance of road safety and responsible driving from as early as possible. It is all too tempting to treat these machines as toys, but they aren’t and it is the parent’s responsibility to ensure this message is understood.

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Teenagers Feel Invincible

Teenagers tend to take more risks than anyone else, and that is because the area of the brain that is supposed to aid in good decision-making isn’t fully developed until the early to mid-twenties. That makes this quite a tricky topic to navigate because teenagers aren’t able to fully understand the potential dangers of driving. According to the experts at The Brown Firm who specialise in the law and automobile accidents, teenagers are also susceptible to seeking new sensations, which will see them test the boundaries and take risks. Of course, not all teenagers will exert the same level of risk-taking tendencies, but it is still imperative that parents are aware of these personality traits. As such, you should reinforce safety requirements such as seatbelts, mirrors, speed limits, drink driving and the use of cell phones at the wheel. All of these need to be taken seriously.

Inexperience Is An Issue

We all learn from experiences, it is the most beneficial means of learning; learning by doing. Driving is no different. An experienced driver learns how to handle a blowout, icy conditions, wet roads and more. An experienced driver knows what to look out for and can almost preempt an accident and thus do everything they can to avoid one. They have reflexive skills that come with time. Teenagers don’t, and this inexperience makes up a huge percentage of car crashes, which is why parents need to be proactive when it comes to helping their teens become more knowledgeable and experienced behind the wheel. Get them to put in their two pennies worth from the passenger seat when you drive around town. Get them to point out potential hazards and get an understanding of different traffic conditions. Then go out with them on long and short journeys where they are driving and see how they do, offer them guidance on certain things and how they could have better handles a certain situation. Give them confidence as well as an understanding of defensive driving skills and why they are so important in their well-being. A great rule to learn, and one that has certainly stuck in our heads since childhood, is that it’s better to be ten minutes late in this world than to be ten minutes early for the next.

Peer-Pressure Is A Killer

We have a duty, as parents, to teach kids how to handle peer pressure, because it can have a huge influence over our children, and that can be bad if your child is driving a car. There is a huge difference between cool and safe when it comes to youngsters and cars, and so kids may try to impress their friends with foolish behaviour. Luckily, recklessness seems to have calmed down since we were at school, and caring about things has gained a sort of kudos that wasn’t around a few years ago. But it is worth teaching your children the results of driving too fast and not wearing a seatbelt. This could be done by showing them statistics, or crash videos, or going to seminars where people talk about how a crash ruined their life. These may seem like drastic measures to take, but the safety of your child could demand that sort of approach. It is better to be safe than sorry after all.

Have Them Prove Themselves

Driving is privilege, not a right, and that is something you and your kids need to understand. S such, it could be worth emphasising this and explaining that your child needs to gain your trust and respect before they can enjoy the full freedom of life on the road.

 

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