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How to Save Money when Upgrading Your Home

August 23rd, 2021 Posted in Money Tips, Property Investment
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Every once in a while, your house will need upgrading. However, renovations can set you back, as we all know. If you want to upgrade your home but can’t afford the most expensive of anything, that does not mean you cannot make a perfectly beautiful home. All it takes is a well organised plan with a little extra thought and consideration. By planning and choosing wisely, you will be able to do everything you want without breaking the bank. What’s more, it will look as if you spent a whole load more than you did. 

How to Save Money when Upgrading Your Home - paintbrush and paint image
Image by Rudy and Peter Skitterians from Pixabay

The Budget

Set an honest budget that you know you can stick to that won’t see you struggling for the foreseeable future. Also, it makes sense you make this budget out of the money you already have saved. Getting into debt for your project is perhaps not the wisest of choices. So, save for a while, see what you have at the end, and create an all-inclusive budget.

Time is Money

And to be honest, we mean it in reverse here. Don’t jump in and make any rash decisions. If you have a strict budget, you will want to be doing a lot of hunting about finding great deals. Think about doing a room at a time rather than gutting the entire house and going mad trying to do it up. This means you will need to set a list of priorities, for example, which aspect of the project is the most intensive. That will need to be done first. Also, taking your time, looking for recommendations as well as thinking about costs will avoid you getting a cowboy builder. Remember things such as electric need things such as an eicr report cost, which would be needed if you wanted to sell your home at some point.

DIY

A lot of smaller projects can be done by yourself. If you are lucky you may have a family member or friend to call on to help you. If you are not exactly up to scratch on all things DIY, then YouTube is an absolute must. You will be able to find almost anything you need to do on there. However, be honest about your skills. Sometimes you may end up wasting more money and time than it would have done to get someone in to do the job in the first place. So, yes DIY is a great way to save money, but don’t over-estimate your abilities.

Reuse and Reupholster

A great money-saving tip is to upcycle some of your existing materials. Everything does not need to be brand new. You can easily make furniture and even kitchen cabinets look new by giving them a makeover. Think sanding down and painting or varnishing. You can actually find a very unique style this way. Also, think about the second-hard market. Sometimes you really can pick up an absolute bargain that looks way better than anything in the brand new catalogues anyway. 

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What You Need To Know About Civil Partnerships

August 4th, 2021 Posted in family finance, Money Tips
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In recent years, civil partnerships have become a popular option for couples who may not want to get married. The civil partnership is a legal agreement that offers partners the same rights and responsibilities as marriage, without having to go through all of the formalities. This article will discuss civil partnerships from start to finish: what they are, how they work, civil partnership solicitors, and any implications you should be aware of before making this commitment.

What You Need To Know About Civil Partnerships - couple sat on cliff top image
https://unsplash.com/@justin_groep

What is a civil partnership?

– Civil partnerships are legal agreements between two people. They are not the same as marriage but offer rights and responsibilities akin to those of being married. A civil partner cannot be exactly defined because it differs depending on where you live. In general, though civil partners enjoy similar rights to spouses including full ownership of the property; shared responsibility for children; joint parental responsibility for any children they have together regardless of their biological relationship and entitlement to statutory bereavement leave if one civil partner dies.

– Unlike many other forms of partnership civil partnerships do not provide automatic inheritance rights upon death unless specified otherwise by law. This means that civil partners have to be very clear about any wishes they may want to be carried out in the event of death.

– In certain countries, civil partnerships offer no automatic entitlement to spousal benefits from employers; however you can take steps before entering a civil partnership and make sure that your partner will receive this benefit by making an election for them or asking their employer if it’s possible through changes in insurance arrangements. 

– Partnerships are created simply by signing a document with solicitors that sets out what rights should arise between both parties. This means there is no need for a celebrant but civil partners do still have to register with one another as being legally civil partners.

– In civil partnerships, there is no requirement for cohabitation but if civil partners live together and one partner dies, the other automatically inherits their property without any financial repercussions. If civil partnerships are dissolved it can be difficult to get back what you have contributed financially or concerning assets that were jointly owned unless they are finalised in a court of law.

When should I consider a civil partnership?

– Civil partnerships offer couples rights equivalent to those given by marriage however this comes at an initial cost: as civil partners do not enjoy automatic inheritance rights upon death new wills must be made before entering into such a commitment; additionally adding your partner’s name on bank accounts, insurance policies etc will mean more work too! With civil partnerships, there is more responsibility for both parties as well.

– Civil partnership can be a good option if you do not want to have the huge ceremony that often accompanies marriage and would prefer something low key, informal and affordable but without losing any of the rights or benefits afforded by civil partnerships. It’s also worth considering civil partnerships if you are in an open relationship where sexual exclusivity isn’t important – it allows your partner to enjoy their freedom whilst still having some security in place should things go wrong!

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How Do You Know If You’re Entitled To Compensation?

July 22nd, 2021 Posted in Money Tips
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It’s not uncommon for half-hearted fliers and spam emails to promise you the world in terms of the vague compensation you might be owed. This means that many people can tune out when told that they might be able to acquire compensation from a wrong they had experienced, or if managed outside of the realms of a binding contract.

But what if you actually are entitled to legal compensation following a wrongful dismissal, or when experiencing a minor car accident that wasn’t your fault? How do you know just how much money you need to claim for, how your insurance might work, or when you haven’t been given the service you were promised?

It’s a good idea to do that research, if only to make sure you don’t have to pursue this possibility any longer. But it may also be that with a little diligence, you realize that actually, yes, you do have a competent claim here.

But how do you get to that point? Let’s explore this topic, together:

How Do You Know If You're Entitled To Compensation? - person holding a fan of hundred dollar bills image
Photo by Alexander Mils from Pexels

Pore Through Your Contracts

It’s a good idea to pore through your contract if you think that an agreement has been breached. You might find, for example, that your landlord is supposed to give you a month (or perhaps even longer) to move out should they wish to renovate the space and rent it for more money. Yet thanks to poring through your contact, you realize the time allocation they gave you was more like ten days. That’s not acceptable. 

From reading through your contract, you may also realize that your landlord was supposed to put your apartment deposit into a protection scheme. Of course, they may have neglected this duty, too. Reading through those terms is how you might come to realize that your current landlord could owe you three times the cost of that deposit in damage. Make sure you’re always reading through everything you sign – it not only protects the person you do business with, but you’re also featured in that content, and some of the legalese is there to protect you, as well.

Collect Evidence

The moment you think that your rights or contractual freedoms are being infringed upon, it’s important to collect evidence immediately. This doesn’t mean you have to install spy ware in every room around you, and it doesn’t mean you have to start spreading office rumors or trying to catch someone in the act.

It does mean, however, slowly collecting everything that could be related to your case. Perhaps your boss is becoming a little too familiar in the emails he sends you. Perhaps you believe that you’re being mistreated at work, and wish to record this kind of questionable treatment. If you believe yourself in danger, seek immediate assistance, and quick referral to legal help could be justified. The quickest approach you can take in addition to that is to curate evidence. This can also help you ensure your suspicions are actually justified, and if not, you can refer to a proper authority to help you understand that.

Contact Professional Aid

It’s important to lay out your case thoroughly in front of a legal professional, who can then decide if your case is worth taking or not. But don’t worry, pro car accident attorneys are extremely adept at helping you feel calm, asking questions that help you reveal more of the story than the documents may show, and if they decide to take you on, they’ll be positively supportive in helping you acquire evidence.

Contacting professional aid can not only help you understand the right process of where to go now and how to put forth a claim that’s important to you, but this will also give you the peace of mind knowing that you’re not the only person considering what compensation you’re owed. Having experienced legal help in your corner can be the first bit of reassurance you may have had in a long while, particularly if they agree you should be entitled to compensation.

Read Through The Necessary Law

While legal help is profound in aiding you, some people wish to know if their compensation pursuits aren’t frivolous and what to do about them. Reading through the necessary laws, such as understanding what employment law might say about being let go in the manner you were, can help you understand with a little more nuance just where you stand in this tale.

With this advice, we hope you can more easily identify just how entitled to compensation you could be.

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Four Ways To Grow Your Finances

July 19th, 2021 Posted in Money Tips
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Finances are at the heart of every household and even though money doesn’t buy you happiness, it can help make life a little more comfortable. Everyone has the ability to improve their finances in some way or the other and not simply need to live paycheck to paycheck. Here are four ways to grow your finances.

Four Ways To Grow Your Finances - piggy bank and coins image
Photo by cottonbro from Pexels

Invest Your Money

There are many ways to invest your money but not everyone takes the opportunity to do so. It’s always important that you do your research before you start investing money because not all investments are easily understandable. The stock market for example is something that takes time to learn and understand before spending your money.

It’s always best to start off small when investing and work your way up to the bigger investments as you become more knowledgeable and confident. It’s also worth noting that you should only invest money that you are willing to lose. Investments carry risks and so that’s why many avoid them for fear of losing out. However, a lot of investments can be fruitful.

Rent Out Your Property

If you’ve got space on your property or you have a spare property that’s going unused, why not rent it out? Whether that’s using an Airbnb management system like OptiNest to renting it out through other holiday sites or a local estate agent.

There can be many benefits to renting out your property and it can provide an additional income that can turn into a hefty amount over time. It might require a bit of effort on your part, but that effort can be worth it for the income that you’ll create because of it.

Track Your Spending Habits

Tracking your spending habits is a great way to grow your finances. A lot of people don’t actually manage their finances correctly and so end up spending more money than they can afford to spend. It’s good to budget your money and to find ways of cutting back in order to save money every month.

You’d be surprised by how much you can save over time by tracking your spending habits and looking for those areas of concern that you can focus on reducing. If you struggle budgeting, then try laying out your expenditures on a spreadsheet so you can see it all more clearly.

Start A Side Hustle

A side hustle is something that can start off as an idea and turn into something big if you have the right idea. Spending time on the side hustle is going to help it grow and it’s something that you’ll be able to do on the side, along with any current job that you have.

Side hustles can start at any age or at any point in your life, so why not give it a go? You may fail but you may end up making some extra cash!

Growing your finances can be done, so use these tips to start off your journey to healthier finances for you and your family.

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Shopping for a Home? Here Are 6 Ways to Save Money

July 15th, 2021 Posted in Money Tips, Property Investment
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A home is one of the best investments you can make in life. For most people, this is also the biggest single purchase they make in life. With your own home comes freedom, and this is one reason most people save right after getting the first job. If you’re shopping for a home, you want to get the best value for your money. This post explores some simple ideas to help you save money buying a home.

Work With a Local Real Estate Agent

If you want to make the home purchase process easier and save money, use a local realtor. These real estate professionals have an intensive knowledge of the market. They know everyone selling and have different properties in the area at varying prices. If you want to save money, the real estate agent can find you a house suited for your needs and at the price range you want.

Look for Features and Additions

When shopping for a home, look beyond the structure and instead look at other features which add value to the property. From solar panels, water and hardscape features, oil tanks, outdoor additions, air conditioning to skylights, there are many features which can save you money. Once you move in, you don’t have to invest more money to improve the property.

Shopping for a Home? Here Are 6 Ways to Save Money - house for sale image
Photo by Pavel Danilyuk from Pexels

Boost your Credit Score

The higher your credit score, the more affordable your loan. As you continue saving towards the down payment of your home, make sure you improve your credit score. Evaluate your finances and make sure you repay all bills on time. Pay down your credit card debt and avoid taking up another loan in the meantime.

Shop for the Right Mortgage

Don’t rush to buy the first mortgage you come across. While your bank might look like the obvious source of financing for your home, consider other options on the market. The mortgage structuring also determines how much initial capital you need and the total cost of the loan.

Working with a financial advisor helps you identify the mortgage options on the market and also determines whether you need a fixed-rate or adjustable-rate mortgage. For such a huge investment, take your time to get the best deal. The last thing you want is to struggle with repayments or lose your home.

Save More Down Payment (Deposit)

If you want to enjoy the freedom that comes with homeownership, save more towards the down payment. This is the biggest secret to accessing affordable loans. If you have over 20% of the mortgage, you won’t have to pay for extra costs such as mortgage insurance.

Be Flexible

Everyone wants to buy that dream home, but it might not always be possible. For a start, you should be more flexible when shopping for a home to get the best deal. Don’t look for the grandest property on the listing, but also consider those that need some reworking. With some compromises, you can save on the home purchase and still get a good property.

Buying a home is not an easy process but with the right information, you can ace it and save money in the process. Use these tips to start your home buying process. 

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