We all wish that money grew on trees. Let’s face it: it’s the one thing in the world that most of us just do not have enough of and if there was a way to make more than don’t compromise your sleep or your family, you’d do it! The thing is, making your money grow is really in your hands, even if it does mean a few sleepless nights in the meantime. You don’t have to be at the mercy of your boss all the time, and you don’t have to feel helpless that your current circumstances will never change – they absolutely can.
Some people go out there and make a lot of money from other people making money, like Jorge Hank Rhon, who owns some of the biggest Mexican casinos. You may have to ask your boss for a raise from time to time, but it’s not the only option out there. You can be in control of financial growth, and we’ve got some of the simplest ways for you to make your money grow.
Start tracking all of your finances. From the spending to the investments, savings, and more, you need to start getting a handle on what you’re spending. The best way to do that is to have a plan in place for tracking all of this and creating a budget plan so that you can better spend your money properly. If you know where your money is going, you can track the waste that’s happening and stop that in its tracks. This will also allow you some more disposable income as a result.
Always pay yourself first. If you want to grow the money you need to add money to your savings account before you put money into disposable incomes. You need to know that your savings are a part of your expenses, and you can ensure that you enjoy every second of that spare cash to spend elsewhere. Build your savings into your budget and you won’t skip out on it.
Start a side hustle. Whether you are going online to flutter some cash and multiply it on gambling sites, or you’re making clothes and selling them online, you need a side hustle to get you going. You can budget and track your spending properly and by paying yourself first, you can spend much less than you expected to.
Build a residual income. This can be done easily enough and when you have a passive income, you’re earning money without having to do much in the first place. Take the time to learn about all the different passive income streams and you can get started on a whole new way of earning.
Making your money grow is so important and if you want to ensure that you continue to grow it, then follow the tips above and make your money work for you. Take your time – your cash can be grown the way that you want it to be! Your money should work for you, so make it happen.
We all need to manage our finances. Otherwise, we can find ourselves experiencing debt and other financial issues. A happy life tends to be a well financially managed life. So, what can you do to get everything in order and make things as simple for yourself as possible? Here are just a few steps that you should take into consideration to get the ball rolling in the right direction!
Creating a Budget
Everyone, no matter how much or how little money you may be earning, needs to stick to a budget. A budget is a tool that we use to determine how much money we’re bringing in, how much money we need to spend and how much money we have leftover to do as we please. Of course, a lot of people don’t have a budget. But this can often lead to overspending and other problems that result in debt. So, if you don’t have a budget yet, follow the steps below to get yourself off to the best start possible.
Work Out Your Total Income After Tax
The first step you need to take towards creating your budget is to work out your total income after tax. All too many people assume that the figure on their salary is the figure they get to take home. But this isn’t the case. If you are employed, your employer will deduct essentials such as tax and national insurance from each pay packet. If you are self employed, you need to deduct this yourself. The amount of tax you have to pay will depend on the tax bracket you fall into. Of course, there are plenty of easy to use and free to use online calculators that will figure out how much of your salary is dedicated to taxes and how much you actually take home.
Covering the Necessities
Once you know how much you take home each month, you need to deduct costs associated with your essential spending. These are amounts of money that you have to pay or are tied into paying. They can include your rent or mortgage payments, council tax, bill payments for energy, bill payments for water, a set amount for food shopping and any payments you may need to put out on contracts, car payments, insurance, and credit card or loan payments.
Disposable Income
The sum you’re left with after all of these payments have been taken out of your monthly payment is what is known as your disposable income. This is the money that you can feel free to spend on whatever you wish. Whether that’s clearing debts faster, putting money into a savings account, booking a holiday, going out for a meal, ordering takeaways, buying clothes, or anything else. Just make sure that you never spend more than your disposable income, as this is when you will find yourself sinking into debt.
Clearing Debts
If you do have debts, it’s important that you work at clearing them. The sooner you clear your debt, the better, as they generally have interest attached, which means you’re wasting money on essentially nothing. Of course, there are various ways to go about clearing debts. But some good steps to take include:
Taking on extra work to generate extra income
Balance transferring credit cards to interest-free cards
Consolidating debts with a low-interest loan
Reducing nonessential spending and using the money towards debts instead
Planning for the Worst
Of course, we never really want to think about the inevitability of passing away, but for many people, passing away will leave their family and loved ones in difficult financial situations. Everyone should plan for their funeral to relieve others of the financial burden attached to it. You should also make preparations for what will happen with your finances and assets should you pass, as well as taking steps to provide for loved ones financially even when you are gone.
Taking Out Life Insurance
While we all hope to be around for our families until we reach a ripe old age, this is unfortunately not the case for everyone. Some of us can pass before we expected. This is why we should all prepare and take out life insurance if possible. A life insurance policy can help to ensure that anyone who is dependent on us will be completely financially covered until they are able to support themselves. A life insurance policy can also cover the cost of things like a funeral, headstones, and urns from Memorials.com. If you have children, in particular, this is important, as you’re going to want to make sure that they are protected and able to get by should we no longer be able to provide for them. A good life insurance policy will ensure that your dependents receive a payout should you pass away. Of course, there are countless policies out there, so it’s important that you take some time to browse through the different options available to you. It’s highly recommended that you use a price comparison site to make sure that you’re genuinely getting the best deal for your money. You should also make sure to input your details correctly, accurately, and honestly to avoid the policy becoming void. Then, make sure to read the terms and conditions thoroughly and make sure that you always make your payments on time.
Writing a Will
If you’ve spent your whole life working towards building assets, you need to ensure that you know who they will be left to should you pass. Make sure to write a will to ensure that any savings you have, your home and valuable assets like vehicles are left to the people who you want to receive them. This is a legal document, so make sure to receive professional help from qualified will writing services.
These are just a few areas of focus to consider when it comes to managing your finances as best possible. Hopefully, some of the information will come in useful to you and really help you along the line!
If you’ve been following markets at all recently, you’ll know that crypto is big news. It’s now a multi-trillion dollar asset class – and growing all the time.
For many people, though, it still seems like a bit of a mystery. And there are so many stories being written about it, it’s hard to separate fact from fiction.
In this article, we run through some of the reasons why you should jump on the crypto train and fundamentally change how you organize your finances.
Let’s take a look, shall we?
The High Returns
Opponents of the crypto movement like to say that crypto isn’t a productive asset and, therefore, doesn’t provide any stream of returns. But that’s not entirely true. Assets are worth what people are willing to pay for them. And the value of crypto is going up all the time.
It’s a little bit like housing. Because governments deliberately restrict the supply, people who own them experience annual house price growth which makes them feel wealthier. The supply of crypto is also limited, producing a similar effect.
The returns for early cryptocurrency investors has been nothing short of spectacular. Buying coins a few years ago might have cost a couple of hundred dollars. Now they’re selling for tens of thousands.
It’s Easy To Understand
Practically all aspects of the crypto market are surprisingly easy to understand.
If you’re on the consumer side, all you need to understand are the factors that determine the price of digital currencies – things like supply and demand. You don’t have to research any companies or try to figure out future cash flows. You just buy the currencies you want and then wait and see what happens.
On the mining side of the equation, things are also relatively simple. According to My Blockchain Life, the crypto world is worth around $200 billion. That’s essentially how much money miners have made by discovering new coins and selling them to the market. The returns have been tremendous.
You Get To Keep Your Money
With regular currencies and gold, there’s always a risk that somebody will come along and take it. What’s worse, it’s hard to verify that a specific piece of currency is actually yours. One dollar bill looks pretty much identical to another.
But that’s not how things work in the world of crypto. The coins in your wallet relate to your identity. So all the computers in the network agree that they’re yours and yours alone until you come to sell.
It’s Independent
Bitcoin is a great way to diversify your investment portfolio. The value of the currency doesn’t seem to correlate with other asset classes, like stocks or bonds. So, in that way, it protects the overall value of your investments over time.
Furthermore, governments can’t interfere with cryptocurrency networks, no matter what they do. Because they are private and cross international barriers, preventing people from doing business on them is almost impossible. And, furthermore, they can’t print money and devalue the coins already in circulation. The blockchain technology behind them doesn’t allow it.
While I love a good joke about lawyers as much as the next person, often these jokes are without merit. Contrary to popular belief, no matter if they are bankruptcy attorneys or are a criminal defense attorney, most legal professions are honest and knowledgeable professionals that look out for the best interest of their clients. No different than doctors or accountants they are professionals with important services to provide.
While most of us don’t think twice about having a family doctor or keeping a handyman on speed dial, many people feel that having a lawyer is a sign that someone is either looking for trouble or doing something risky that might make them more likely to have legal problems.
Generally, most ex[pect to never have need of such services. But oftentimes having an established relationship with an experienced family attorney prevents problems from forming entirely. Such as buying a home, when getting married, adoption services, establishing an LLC, venturing into business, protecting your savings, or personal injury claims. Especially if you are a parent who is responsible for the care, estate, and general welfare of others.
For these reasons and more, there are several reasons for you to consider why it is a great idea to get a family lawyer today:
They’re Affordable
One of the big reasons that people avoid talking with an attorney is cost. While lawyers do charge different rates and some can be very draining on the wallet, most are actually very reasonable. In fact, you can probably find a very capable attorney for a lower hourly rate than your doctor or even a licensed plumber.
With many attorneys likely providing free consultations prior to collecting retainers for services. In those consultations, they will talk with you about your situation and provide some idea of how they can help and how much it will cost. Eliminating the risk of talking with an attorney and trying to build a relationship with one.
Lawyers Provide Prevention
Most people think of attorneys as people who fix problems but most of the work that they do is preventative. Whether it’s reviewing contracts, writing up agreements, filing paperwork or making sure that their client is compliant with the law. Attorneys represent the interest of their clients and those interests are best served by keeping them out of legal trouble. Not just merely defending them when they are in the middle of it.
Having a lawyer that can read your contracts, keep up your business filings, and guide you through any paperwork you may have can go a long way to preventing legal problems saves you a great deal of money and headache down the road.
Your Competitors Have Attorneys
If you’re signing a contract to work with another company, chances are that they had an attorney write it for them and prepare it with their interests in mind. If someone you’re negotiating or competing with has an attorney working with them and you don’t, that puts you at a disadvantage.
Having a knowledgeable attorney in your corner makes this process all the more seamless in nature. And in terms of business negotiations can also act as a powerful contact. A good lawyer is a great place to get contact information for other professionals, informally and formally. For all your business needs.
While you might not need to visit a lawyer every six months or even yearly, you should establish a relationship with one as soon as you can and see about stopping by every time your situation changes. Routine stuff such as minor car accidents, contracts, and wills and estate planning. It would also behoove families that run small businesses to also maintain retainers for personal injury
So take the opportunity to seek one out. Most likely, you’ve been putting off some legally oriented task for a while to make it a late New Year’s resolution to get it done and, along the way, establish a relationship with a legal professional that can help you a great deal down the road.
Tips for finding the right law firm
Nobody knows what is around the corner and there are many reasons why people may need legal advice and assistance. If you find yourself in a situation where you need help or information, or you’re looking for a firm to represent you, it’s important to take the time to research practices and find the best firm for you.
Search for firms that specialize in the relevant practice area, ask for recommendations from people you trust, and arrange consultations. You can learn more about law firms through their websites but it’s beneficial to talk to or meet with representatives so that you can get a better idea of what the practice can offer and build a rapport. Going through legal processes can be challenging, and it’s essential to ensure that you have a positive relationship with the attorney or the legal team that is advising or representing you.
Times may even call for the services of a criminal defense attorney to aid clients and families of clients with pending criminal defense needs from a criminal lawyer. All services can help families maintain their peace of mind at home this season. Because when you need your lawyer, you’ll be glad that you met them when you did. Now friends, do you have a family attorney to handle your personal affairs or personal injury claims at home? Share your experiences below!
Buying a home is probably one of the most stressful and yet exciting moments in your life – your wedding being a close competitor. This is because while there is a lot of fun to be had when looking at properties and envisioning your life inside them, there is also so much more than you will be required to think about, and all of this constant intake of information can really begin to take its toll and overwhelm you.
This is why it’s always best to do things in stages. Try splitting up every different aspect into categories, and then you can deal with them individually rather than juggling too much at one time.
While it’s easier said than done, try not to let your experience be overshadowed by stress and anxiety to make the right decisions. Here’s what you need to do to get started:
Get your money together
The hardest thing that people struggle with, is the financial side of buying a home. Let’s face it, there are so many expenses that come into play, not to mention the actual mortgage itself, that is why you need to look at some sort of mortgage-to-income ratio calculator so you can gain a better understanding of affordability. This is why you may greatly benefit from finding a mortgage broker like Altrua Financial who is not only able to give you all the helpful information that you need but will also find you the lowest rates available so that you have a plan that is suited for you and your needs. You then want to take into consideration all the other costs like the general maintenance and upkeep of the home, the possibility of repairs and renovation, and anything else you may want to include.
Plan the must-haves
It’s no good looking for that perfect home if you have no idea what perfect is to you. If you don’t have any ideas in mind, you may end up having your decision swayed by someone else and then regretting it later on down the line, so make sure that you know what it is you want. Make a list of all the absolute must-haves, so this may be something like having a minimum of three bedrooms, or an open plan kitchen, or a swimming pool. Once you have the must-haves, then write down any bonus features, like an ensuite bathroom for example. Then you will be able to better rate the houses you’ve viewed because you know exactly what you need, and then what you want.
Investigate the neighborhood
No matter how beautiful the new potential home is, it’s not going to be any good if you’re in a bad neighborhood, and yet if you don’t do the right research, you may not find out until it’s too late. So if you have found a property that you’re interested in, have a walk around the neighborhood at various times in the day. See what it’s like in the morning, in the afternoon, and in the evening. You may find that it’s quiet and friendly, or you may notice things like reckless teenagers riding their bikes in the streets, or dangerous racing down the road, or arguments going on.
As we approach the end of what has been a very strange year, many of us will start to think about how we can make sure we are prepared financially to enter a new year. Some of us set New Year goals that are finance-related, whereas others just look towards much of the nation reopeneing in a post-pandemic world. Hoping to all start seeing more paydays, every day. However, there are things that you can do now to ensure that you are savvy with your finances and ready for the new year ahead. With that in mind, here are some of the things to think about.
One of the first things you need to think about is getting your taxes sorted and checked out. When you have money owed out to taxes, you need to think about getting those bills paid and not letting them turn up unexpectedly. This is when using specialists and field experts like Suraj Kumar Rajwani or researching accounting firms like Foley & Giolitto could be a good idea. Helping you to understand what is owed and putting money aside can help you to budget in other ways. The last thing you want is to have to pay out a big amount when you least expect it.
Look at your outgoings and make some savings
Another thing you can do is to look at your outgoings and see where you can potentially make some savings. Not only does this give you an accurate amount that you pay out each month, but it also gives you the opportunity to cut back on things you no longer need. Getting rid of different subscriptions, for example. You may also be able to make some savings on regular bills such as energy or insurance products. This could help you to get more in control of things and only pay out what you need.
Set up small savings pots
Savings are crucial for when you need to replace items that are broken, to pay for birthdays and even Christmas towards the end of the world. So setting up small savings pots can help you to start doing this more regularly. It is a great idea to help you to stay on credit as well so you avoid having to use credit cards or loans to pay for things when you need to. Savings pots can also be for small things from petrol and food shopping to other things like saving for your new car or a holiday. Putting money into these pots can help to visually give you an overview of where you are at with your money.
Make your goals and come up with a plan
Finally, it is a good idea to make some goals and come up with a plan for the financial side of things. Are there any big changes you want to make next year? Are you wanting to achieve something or pay for something specific? Having your finance goals written down will help you to stay accountable and also motivate you to make it happen.
Let’s hope these tips help you when it comes to making sure you are savvy with your finances.
Running a business is a real challenge, it’s an exciting venture, but that doesn’t mean it’s easy. As a startup, you might not be making a huge profit yet. The good news is there are plenty of ways to improve your business finances. For some awesome ideas to get you going, let’s make a start with these four.
1 . Save Where You Can
To improve business finances, it’s wise to make savings where you can. There are plenty of ways to save your biz money including:
Outsourcing: Permanent staff members can be costly for startups, and you might not need to hire a large workforce. Outsourcing can help you to save money on various tasks, employing staff for short-term projects.
Free resources: There are plenty of free resources and software tools, which can support your business. For a top free marketing tool, try SendPulse. For support with your project management needs, check out Bitrix24.
Go green: From going paperless to purchasing second-hand office items, there are plenty of savings to be made when you go green.
2. Improve Your Budgeting
To improve your company finances, it’s essential to improve your budget. To help you create the perfect budget many software tools can help you. For a few of the best options, check out Prophix, Planful, and Jirav. All of these offer budgeting and forecasting solutions to help your business grow. From reports to financial analysis, you’ll soon improve your financial health.
3. Use The Right Accounting Tools
It’s important to use the right accounting tools to keep on top of your business finances. Quickbooks is one of the best accounting solutions for small and mid-sized businesses. The software can help you to track transactions, bills, and payments. You can organize your accounting notes, and use the accountant toolbox. If you’re planning to use Quickbooks for your business, check out this easy way to become Quickbooks certified. With the right certification, you’ll get the most out of this powerful accounting software. Using Quickbooks you’ll benefit from a wide range of features including:
Invoice Management
Auto Tax Calculations
Profit And Loss Reports
Payment Tracking
Balance Sheet Reporting
4. Improve Your Marketing
Making more money for your business is all about great marketing. To stand out from your competitors, you need a great marketing campaign. To enhance your marketing campaign this year, focus on the following areas:
Use plenty of video marketing, to increase conversions.
Host live events to widen your reach.
Focus on personalized marketing, to build rapport.
Work with the right influencers to boost trust and loyalty.
Improve the UX of your site, in response to new Google updates.
