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Fun, Flexible Ways to Earn Some Extra Cash

January 31st, 2020 Posted in Money Tips
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Looking for fun, relatively easy ways to make a bit of extra cash? Here are three ways that it can be done, depending on your situation and interests. 

Start a side hustle

This day and age, where it’s perfectly possible to make money from your own home in a flexible way, everyone should have a side hustle. It’s a way to take something you’re good at (a skill such as writing or design) or a hobby you enjoy (such as baking or crafting) and monetise it. Since you’re the boss, side hustles are flexible and can be worked around your regular nine to five job, and as you’re doing something you enjoy it can be fun and rewarding. Having a second stream of income is incredibly useful, you could use the money you earn to pay off debt, to save up or just to live more comfortably. If you ever lose your main job and source of income, you have this as a backup plan so you can earn at least some money to keep you going until you’re back on your feet. Some people start side hustles that are so successful they can turn it into their full time job, and earn more money from it than they ever thought possible. But even if you’re just earning a few hundred a month, it’s always going to be a bonus.

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Invest

If you’re in a position where you already have some money behind you, don’t just let it sit in a bank account. If you invest wisely you can turn your chunk of cash into a lot more and grow it steadily over a number of years. Since investing tends to mean a pretty passive way of earning income there’s little hassle to you but it’s rewarding to see your money being put to work. From stocks and shares to online currencies, there are lots of different options. If you’re new to investing, it’s worth hiring a broker who can make the best decisions on your behalf. 

Gamble (with caution!)

This really should be taken with caution. Gambling can be seen as a fun way to acquire money, but should never be done as a way to earn money or try and win back what you’ve already lost. When gambling, set aside some money to spend on a set basis and when it’s gone, accept that it’s gone. You should never use money that’s set aside for bills or anything else, and see it as something that’s just a bit of fun and that you very well may lose. However, if you have some spare cash and aren’t worried about losing it, gambling can sometimes go in your favour and you can get some nice wins- and have fun in the process. Use a company that offers free bets to get you started, that way you have more chances of winning without exceeding your budget.

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How to Protect Your Financial Health

January 28th, 2020 Posted in Money Tips
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It’s not easy to get your financial situation under control, but when you do, it’s important that you avoid becoming complacent. You had to work hard to get things into a healthy position, but you can’t assume that things will just stay that way. It’s like working hard to get fit and healthy at the gym, and then, as soon as you’ve reached your target, heading back to the couch. In this blog, we’re going to take a look at a few tried and tested tips for maintaining your financial health for the long-term.

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Stay On Top 

You’ll be liable to fall into difficult situations if you’re essentially burying your head in the sand. Indeed, this is perhaps the number one cause of financial ill-health. It’s not so much that the bad spending habits are so severe that they have to automatically cause long-term financial problems. It’s just that they go on too long, all because the spender isn’t aware that they’re happening. So be sure to keep your eye on your accounts and your financial habits. A little bit of courage is required to take a look, but you’ll be thankful you did so in the future.

Get Covered

You might have a firm grip on your finances right now, but it’s always worth keeping in mind that you might just be one bad move away from falling into difficulties. You never know what’s going to happen in this world; this makes it exciting, but also a little scary! The only thing you can do is to prepare yourself for bad outcomes. The best way to do this is to work with an insurance broker and get a healthy level of coverage. One particularly recommended type of insurance is income-protection insurance; this will replace a big chunk of your income should you be unable to work.

Invest In Yourself

Some people get to thinking that all types of expenses are bad, but this isn’t the case. There are areas where you should be opening your wallet. There are investments that, while costing your money initially, will make it possible to improve your financial situation even further in the future. It’s recommended that you invest in yourself, for instance. Spending money on higher education can be a good move, since it’ll make you eligible to apply for the higher-paying jobs. 

Speak With an Expert

You may one day find yourself with a windfall of cash, most likely through inheritance. If you have little experience with handling large sums of money, then look at hiring a financial expert to help you manage your cash. They’ll know the best places to keep your money, and can help you to draw up a long-term plan.

An Agreeable Budget 

Finally, be sure to come up with a budget that you know you can stick to. This is the foundation of a healthy financial life, and it’s not as if it’s difficult to implement. Just take a look at your bad spending habits, and cut them out. 

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Grow your Funds with these Tips

January 21st, 2020 Posted in Money Tips
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Money makes the world go round, or so we are told. Unfortunately, not having enough money can certainly be an uncomfortable place to be. It puts a strain on your life and relationships. Everything becomes about money, it is all you can think about. This is a sad fact of the world we live in. A lot of what we do depends on money, where we go, shop, who we are friends with. It really does seep into almost every facet of life. However, there are ways you can make the money you have work better for you. It’s not all doom and gloom. Okay so here are some tips to help you grow your money and have a better future:

Grow your Funds with these Tips - The Financial Fairy Tales blog image of money growing in a jar
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Acceptance

The first thing you need to do above everything else is accept where you are in life at the moment. You cannot go about living a champagne lifestyle on ginger beer money. It is unsustainable. The truth of the matter is, it does not actually matter what you earn, it matters what you do with it. If you earn $15000 a year and save $100 a month, you are better off than the person who earns $100,000 a year but spends $120,000, meaning they have a considerable debt. When the next financial crisis happens, who is going to be better off? However, the only way to save is to live within your means. So, be honest with yourself, what can you buy? What should you buy? Who cares where you got that coat from anyway? If friends are judging you because you haven’t got branded clothes, are they really your friends? Make changes to how you shop with the intention of saving something every month.

Stocks and shares

Before you look to make any sort of investment, you need to do a bit of research. Perhaps, have a conversation with a financial expert, or a few experts to gain as much knowledge as possible. Read as much as you can online, learn as much information as you can before you look to put your savings into any sort of investment. Even the most sturdy stocks are not without risk. The whole reason people make money on the stock exchange is because it is marred with risk. However, there are ways to mitigate the risk and research is one. You also need to choose what type of investment you want to make. Long term or short term. High-risk, or low risk. Think about dividends and what sort of returns you can get in that aspect. Maybe you are inspired to invest based on ethics. Whatever you end up doing, remember that you need to diversify. Never put all your money into one type of stock.

Spread-betting

If you have not heard of financial spread-betting, you may be missing out. This is a form of investment which is done using the stock market. However, you do not buy stocks. What you do is place a bet on the likelihood of a particular share price rising or falling. Instead of a straight-up bet, it is more informed as you are using your knowledge of the stock market to mitigate the risk involved. There is a lot of money to be made in this sort of thing, just as there is potential in making money by searching for the latest casino offers. 

Start a side hustle

Another way to maximise the money you have is to start a business on the side, while keeping that full-time regular job. Think about what you would like to do and maybe it could be a little money earner. There are so many avenues you could go down. If you are one for bargain hunting, perhaps you could open up something on eBay or Amazon and start doing it semi-professionally. What is stopping you? If you have a passion and know a lot about something, you could make money selling your knowledge. Perhaps you could write blogs on the side, or turn your make-up skills into a vocation. When you start thinking down the entrepreneurial road, the world opens up, and there are many opportunities. The added bonus with doing something like this is the feel-good sense you get from it. You have created something on your own for yourself, and no one will ever be able to take that away from you. And if this side hustle kicks off, you may end up doing what you love full time and being your own boss. Life is what you make of it, and sometimes it is through struggle that we achieve. 

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Can You Treat Yourself While Being Financially Cautious?

January 14th, 2020 Posted in Money Tips
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We all need to treat ourselves from time to time, but many of us don’t afford ourselves that opportunity. It can feel particularly difficult to do that when we’re trying to save money and spend less out of financial necessity. It’s never a bad thing to try to live within your means, but it can make certain things difficult when it comes to treating yourself and bringing joy to your life. So is it possible while also being financially cautious? Find out below.

Can You Treat Yourself While Being Financially Cautious? - luxury bath and rug image
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Earn it First

The first thing you need to do is earn it. If you’re looking to treat yourself, there needs to be a reason for doing so. If you want to spend money on something nice, you could set yourself some goals for you to hit. And then you’ve fit them or if you hit, you could give yourself a treat. It’s a good way to ensure that little extra spending is earnt and doesn’t become too much.

Limit Yourself

It’s also a good idea to set some limits on your treats. After all, a treat isn’t really a treat if you’re giving yourself one every day or even every week. If you take that approach, those treats will end up simply becoming the norm and they’ll lose their true meaning. You won’t appreciate them as much and you won’t be as financially cautious as you would like to be.

Find the Cheap Alternative to Your Ideal Treat

If you want to treat yourself without breaking the bank, you could look for some cheaper way to do it. That could mean buying the cheaper chocolate cake at the shop or it might mean looking at Used Jaguars rather than new ones when it comes to buying a new car. It all depends on the context and how much money you have to spend, but the concept is the same regardless.

Enjoy the Simple and Free Things in Life

There are so many simple things in life for us to enjoy and many of these are free. For example, having a long, luxurious soak might not seem like much, but it’s a nice free treat if you’re someone who usually has a quick shower before work rather than a long soak. Or go and watch the sunset or any other free and simple joy that life has to offer.

It’s Always Possible if You Try

No matter how much money you have available to you, it’s always possible to treat yourself on a budget if you try hard enough. You don’t have to throw cash at a situation in order to make it better or to enjoy yourself. A little extra effort and some thought can go a very long way, so keep that in mind next time you want to treat yourself.

Each of the tips above show us that you can treat yourself and remain financially cautious at the same time. So, don’t feel like you need to deprive yourself in order to remain financially stable because that’s usually not the case.


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