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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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Teach Your Kids About The Online Property Market

February 27th, 2017 Posted in Property Investment, teaching children about money
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If you are in the process of moving house, this may be the perfect opportunity to teach your kids about an important phase that they are likely to go through later in life. A house is the biggest financial investment most people make, and selling it is a process that can be a complicated affair.

While they are learning about the financial aspects of house sale, they can also discover the different ways to improve the chances of it being sold quickly. Just as the internet is revolutionising so many parts of life, it is also doing the same to the process of selling a house. Here are just a few of the other ways that the internet has changed the housing market.

Research Online

Before people do anything these days, whether this is going out for a meal, heading out to the movies or buying a house, they are likely to research it online. Properties that are more difficult to find online are significantly less likely to get many viewings. It’s also likely to be time saving as people are able to view pictures before they actually decide whether or not they want to visit the property. You can even make a video that gives a virtual tour to give an extra personal touch.

If you are in the process of selling your house, show your child how your house is listed online and explain to them the value of it compared to different houses in your neighbourhood. Property prices are a tricky thing for anyone to understand, so the earlier you teach them, the better.

Real Estate on the Web

Certain companies are now offering online services that are providing a challenge to traditional real estate brokers. Companies like Doug Hopkins are now able to showcase their services through an online portal.  As the internet continues to move at warp speed, it is likely that these services will continue to increase in number. This is being seen as a way to massively reduce fees, but of course there are numerous pros and cons to this approach. It’s worth running over all of these with your kids as when they get round to buying and selling houses, it’s much more likely that the internet will be playing an even bigger role.

Communication

There are so many different ways for house buyers and sellers to get in contact with each other thanks to the internet. Whether this is just making small enquiries or actually putting in an offer, buyers and sellers can stay in touch like never before. When you are getting in touch with buyers, keep your kids in the loop so they know how things are developing and the types of questions that are likely to get asked.

In the future, the internet is likely to play an even bigger role in the property market. If you get your kids involved from a young age, they are more likely to have an advantage when the time comes for them to get on the property ladder.

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The Financial Error’s Of The Lion King’s Mufasa

February 24th, 2017 Posted in Uncategorized
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There’s much we can learn from The Lion King, Disney’s 1994 classic. It’s a tale of redemption, of overcoming all the odds against you, about fighting for peace,…and about how you should never fully trust your brother, especially if they look evil and everything they say is said with a vague threat implied. But there’s something we shouldn’t take from the film, and that is: financial advice. Yes, a whole lot of mess could have been avoided had Mufasa just been a financially responsible parent. Alas.

The Financial Error’s Of The Lion King’s Mufasa - lion image

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Investing in Property

‘Everything the light touches is our kingdom’, and thus implied, all yours Simba. Only, Mufasa didn’t actually invest in the land he was claiming was his; he just assumed it was his. That the zebras and giraffes didn’t put up a fight will not stand in the court of law. He should have acquired a deed to the land, which would have been very profitable. Also, the hyena hideout? We see a rustic getaway away from the heat, right in the heart of safari land. Imagine what that’d go for on AirBnb….

Securing the Family’s Future

For a guy with an obviously evil brother, Mufasa sure was pretty lax about securing the family’s history. Should he have put the time into looking for selectquote insurance? Of course he should. Instead, he was thrown from the edge of a canyon to his death and his family was left with nothing. His son has to spend his entire childhood hanging out with a meerkat and warthog. All because he didn’t have five minutes to spare….

Teaching Simba about Taxes

Mufasa didn’t teach Simba about taxes because…he didn’t have the foresight to think they might be useful! As king, all he had to do was enforce taxes, even a token gesture of taxes, and he might have spared his son his later hardships with the IRS (unreleased Lion King sequel – Simba and the Jury). If kids learn about taxes when they’re young, they can avoid the same fate as Simba. They’re a natural part of life, just like the circle of life they sing about so passionately during the film.

Not Working Hard

Mufasa and his family did have a pretty idyllic life when they were all alive, as did the other animals in the kingdom. But this would have eventually cost them: because it was wildly, recklessly unsustainable. To gain financial freedom, you have to be ready to work hard while you’re in the prime of your life, saving each and every week. Doing the bare minimum needed to survive – like Mufasa – will eventually cause financial difficulties.

One Thing He Got Right

We would be unfair on Mufasa is we didn’t give him credit for the one thing he most definitely got right. By teaching Simba not to have more than this share (in the scene where he explains how everything lives in tandem), he’s telling his son to live within his means, which is what all our children should know!

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