What is Libra and why should you care? This infographic highlights the main points and benefits of Libra the new currency from Facebook. Will it revolutionise how we shop on the web or be an expensive flop? Time to find out..
Libra the Cryptocurrency from Facebook
June 28th, 2019 Posted in learning about money
Should You Buy Or Lease Your Business Assets?
June 19th, 2019 Posted in Entrepreneurship
Every business owner needs to provide their company with direct access to the industry equipment and premises necessary for growth. Whether you’re considering the machinery your company needs to maintain its productivity or the overall location of your business, an entrepreneur has to decide when it’s time to buy when it’s time to rent. Both options have their advantages and inconveniences. As a result, it’s essential to consider a variety of factors when defining the most suitable solution for your company. Ultimately, while cost is a driving factor in the decision-making process, it isn’t the sole element to take into account. Here’s a little bit more on the pros and cons of buying and renting.
Buying a property gives you more freedom
There is no shortage of commercial rentals. In fact, as many rental shops tend to stay empty for prolonged periods of time, it would seem that there are more rental commercial properties than there are businesses. In reality, small businesses often struggle to secure premises as commercial leasing agreements can be unaffordable in the long term. On the other end, you can turn to expert sites and search PropList or similar realtors to find a list of your local commercial properties to buy. A commercial mortgage can facilitate ownership – commercial loans are very different from personal loans – and protect your business from unexpected leasing cost increase.
What are the risks of renting?
Businesses that consider signing a lease need to be careful about the terms they agree to. Indeed, while the typical length of the contract can be of 5 to 10 years, depending on your business, break clauses, and stamp duty can make it difficult for undercapitalised companies to relocate. it’s not uncommon to find rent-free periods for commercial properties, but what businesses forget to consider is that the actual rent is likely to be inflated as a result.
Buying your equipment: It doesn’t have to be new
Similarly, the next important asset to secure is your business equipment. Buying your equipment is an expensive investment for a startup or a small company. However, a purchased asset can bring tax benefits as it is typically deductible. While there are financing options available, most SMEs prefer reducing their costs with the purchase of used equipment. Ultimately, saving money can come at a high cost if you’re not careful. You can’t commit to a purchase without considering the length of the remaining warranty period as well as the condition of the machinery. Indeed, repair costs could tip your business over the edge!
When is leasing a good idea?
On the other hand, leasing your equipment can be a profitable decision that also comes with a non-negligible tax advantage. Indeed, you can deduct the leasing costs from your tax return. More importantly, leasing allows your company to finance the price of its equipment, which can free up additional capital. For a business working with limited cash flows, leasing is a manageable solution. However, it also implies that you need to find a reliable provider who can maintain and service the equipment.
To buy or to lease, this is the question that countless business owners have to answer. There is no unique solution, as your decision will depend on your cash flow, your market, and your long-term requirements. In short, the cost is not the sole factor to consider!
Tricking The World Into Thinking You’re Rich
June 17th, 2019 Posted in Money Tips
Money has long held a lot of power in society. A person’s reputation and image can revolve around the number in their bank account, and it’s much easier to get things done if you have this resource behind you. Of course, though, unfortunately, most people feel as though money is working against them, rather than on their behalf, in the modern world. To help you to find ways to overcome this, this post will be exploring some of the easiest tricks to make it look like you’re rich. While this is mostly for fun, it can show you some good ways to save money.
Shopping Second Hand
Second hand markets have always been popular amongst budget buyers, as they offer the chance to get your hands on items far better than you’d have been able to afford if they were new. This works for a huge range of items, from clothing to cars, with companies like The Good Van Company being a great example of a business in this field which focuses on providing luxury products at reasonable prices. It’s worth being careful if you decide to go down this route, as not all companies are as honest as others when it comes to giving you the history of the items you’re interested in.
Gather The Right Deals
Going out for a meal can be an extremely expensive affair, with a lot of people unable to afford this sort of luxury in normal life. You rarely have to pay full-price when you do this, though; as long as you’re willing to do some hunting. Swagbucks is a global deal site that offers savings and promo codes. Save with an online RedBubble coupon for coupons to thousands of merchants including Ted Baker, Gap, Clarks, and eBay. Restaurants across the world offer discount codes and coupons to their customers also. To find these, you may have to do a little bit of research around the web, using deal-tracking websites to get an idea of what you have available. You can often get deal packages when you buy products like insurance, making it worth exploring the different options you have on offer.
Get Competitive
Those who are willing to fight for what they want are always more likely to live a more comfortable life. In the case of luxury items, taking on a little bit of competition can be a great way to save some money, but you’ll have to be quick if you’re going to be found successful. Time-limited products like vacations often go unsold. To ensure that the companies offering them down lose out entirely, some will put these packages online for a fraction of their original cost. A lot of people will be on the lookout for deals like this, making it hard to get your hands on them, unless you’re willing to do some work.
With all of this in mind, you should be feeling ready to take on the challenge of tricking the world into thinking you’re rich. Not a lot of people go down this route, instead spending the limit of what they think they can afford. There are good deals around every corner, though, and finding them only takes a little bit of perseverance.
Budgeting. It’s one of those things that we all know is good for us. Yet committing to a budget can be a lot easier said than done.
One of the hardest things about budgeting is that you’ll have to make a handful of compromises. This means that you can’t just buy everything you want without thinking about it. Instead, you need to decide what you really need to buy, and what you can live without.
If you’re concerned about how difficult it can sometimes be to reduce your spending, don’t fret. We’ve got a handful of easy ways you can spend less, without feeling the pinch.
1. Only Buy Store Brands
Human beings are creatures of habit. We tell ourselves that we need to buy the same make of cheese and toilet paper time and time again. However, the truth is that most of the products you buy in the supermarket today are the same as the own-brand options you can get for a much cheaper price.
When you pay for more for fancy brands, usually, you’re paying for the cost of their advertising and packaging, not for a product that’s any better than you’d get elsewhere. Stick to store-brand only, and you’ll save a fortune.
2. Plan your Meals
Have you ever been searching through your kitchen cupboards and found a bunch of old, outdated sauce mixes and meal packets in there? You’re not the only one. It’s easy to get inspired and buy something at a shop, then forget all about it when you get home. To make sure that you’re not wasting your money on un-used food, make sure that you plan your meals.
Set aside an hour or two each week to think about the kind of recipes you’ll look forward to eating. This will make it less likely that you’ll be tempted to order in. If you can, try to make multiple meals using similar ingredients, as this will cut down the amount you need to spend too.
3. Always Keep Snacks Handy
Snacks might not be the best thing for your diet (depending on what you eat), but they’re great for your budget. When you’re out and about, it’s easy to spend a fortune on an expensive lunch when you’re starving and far away from home. However, if you’ve got some snacks in your glove compartment, or your bag, then you can save yourself some hard-earned cash.
To keep things healthy, carry a bottle of water with you at all times, as well as some non-perishable foods like nuts, or a granola bar. When you’re tempted to eat out, even a bottle of water can be enough to fill you up until you get home.
4. Use Things Up
Most consumers today are more wasteful than they realise. The chances are that you’ve thrown away plenty of “almost empty” bottles of cleaning substances in the past. However, the amount of cash you waste on not using those items until they’re empty is more significant than you may realise.
Whether it’s a bottle of makeup or something that you regularly use around the house, focus on trying to use everything before you buy something new. This will help to stop you from making frivolous purchases on items that you don’t necessarily need. It should also stop you from ending up with excess clutter in your home too.
5. Make it a Challenge
Budgeting can be boring – so why not have a little more fun with it? Every time you’re shopping for something new, challenge yourself to save money. This could mean going online and finding out how much cash you could save on a new loan if you go with a different provider. It could also mean downloading apps that automatically add discounts to your cart when you’re checking out with an online store.
If you focus on making sure that you’re always on the lookout for a bargain, you’ll be less likely to make passive purchases that take you over your limits in your budget.
6. Ask for Better Deals
Finally, don’t be afraid to haggle with your service providers. Whether it’s the company that provides your car insurance, or the brand you’re paying for utilities like gas and electric, make sure you’re always paying the lowest price. If you can’t find a better deal online, you can always call the company customer service desk and ask for a discount.
Many businesses will be happy to go above and beyond to keep you on their team. That means that you can find plenty of great deals.
Does Being Underinsured Truly Save You Money on Your Car?
June 7th, 2019 Posted in Money Tips
Insuring your automobile can be a financial burden. In America, insurance is the third-biggest expense associated with car ownership, as illustrated in the Carsurance’s infographic.
Actually, it can set you back more than maintenance. Allotting a larger slice of your budget for auto insurance, a product you may never use, than for regular vehicle upkeep, which is of utmost importance, can be a hard pill to swallow.
Even worse, many non-driving qualities can inflate your car insurance premium. The younger you are, the higher your payment will be. Although it goes down incrementally as you mature as a person and gain more experience as a driver, it is likely to increase again after your mid-50s.
Apart from your age, your gender may be a liability too. Being a male can place you at a disadvantage, for men in general are more reckless on the road than women.
Your place of residence or work may play its role in driving your auto insurance premium up. Commuting in a location with high traffic volume or with crime rate does not give your insurer incentive to charge you less.
If you are like many private vehicle owners, you probably buy auto insurance with minimum liability coverage in hopes of saving money. Doing so does not break any law, but it can render you underinsured since your insurance may be not comprehensive enough to pay for all of your financial obligations in case of an accident.
While being underinsured can shrink your insurance payment, the benefit may be short-term only. If you get involved in a car crash, your insufficient insurance coverage will force you to pay the remaining expenses out of your pocket.
This gamble may not be worth the trouble. Considering the prospect of financial distress in the event of a collision, especially when you are found culpable for the incident, increase your coverage limits and raise your deductible to get more value for your money instead of risking being underinsured. This way, you can get more reliable coverage and receive a discount at the same time.
To learn more ways to save money on your auto insurance properly and effectively, check out the infographic below!
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