The 3 Costliest Banking Mistakes Entrepreneurs Must Avoid

Poor money management is one of the biggest reasons why new entrepreneurs fail. And key to successful money management is the relationship you build with your bank. If you still consider the bank as simply a place to store and borrow money, then you’re missing a huge opportunity to access resources that will empower your small business.

To make the most out of what your bank has to offer, make sure to avoid the following most expensive banking mistakes small businesses commonly make.

1. Mingling personal and business finances

It’s not enough that you have a separate personal and corporate bank account. You also have to be diligent about making sure transactions are made using the right account. Business expenses must only be charged through your business credit cards and checking accounts, without exceptions. And should there be a need to move money between your personal and business accounts, then such transfers must be properly explained and documented.

A clean and clear separation between your business and personal finances allows you to:

● Establish a more efficient tax return process, allowing you to easily see and access tax benefits and cut accounting costs

● Manage your business account better by establishing separate accounts for categories such as tax, revenue, payroll, and so on, as needed

● Make business audits easier

● Obtain a clearer understanding of your business’s financial standing, which equips you with the information you need to evaluate and drive profitability for your company

2. Failing to maximize services that lead to healthy cash flow

While profit may be an easy measure of business success, it’s cash flow that will keep your business up and running. But managing cash flow is known to be one of the toughest and most daunting tasks entrepreneurs face. It is thus important for your business to take advantage of the right financial tools and expertise from your bank that are designed to boost cash flow and address cash flow challenges.

Take advantage of cash management services from your bank, that help you manage incoming and outgoing cash. For instance, end-to-end global disbursements and receivables services can simplify your domestic and foreign payments and collections so you can enjoy lower operating costs and improve business efficiency.

Other examples of banking services that help you manage good cash flow are:

● Payment and account solutions that streamline local and foreign currency transactions

● Global corporate credit cards that help you effectively control your working capital, from goods and services cost to travel and entertainment

● Global payables solutions that allow quick and easy electronic and paper-based payments from local and international customers

● Virtual accounts, cheque management, and paper and electronic collections for managing receivables, so you can quickly turn them into cash

● Other solutions that protect you from financial shortfalls: business loans, guarantees and standby letters of credit, and import and export finance

3. Neglecting to invest in building a relationship with your business bank

There is no “one service fits all” option when it comes to banking. What may work for another business may be irrelevant for yours. And even if it worked for you last time, it doesn’t mean it will continue to be effective at all times. That’s why it’s imperative that you communicate your needs and goals to your bank, as they have the capacity to come up with the exact solutions according to your situation at the moment.

When you start to view your bank as an integral part of your business’s ecosystem, they can deliver more personalized and extra-value support such as:

● Connecting you with contacts, clients, partners and potential investors that are part of their vast local and international network

● Identifying useful tools and products that may not be easily available to ordinary clients

● Referring you to external solutions and experts to address even non-financial challenges you may have

● Offering easier and faster processes, thanks to their familiarity with your business requirements

The best business bank you can find for your small venture can be your growth partner. Your bankers can help you unlock solutions to your biggest challenges, and provide you the support you need as you work toward achieving your business goals.

When it Comes to Your Finances, Doing Nothing is the Worst Thing You Can Do

If you’re currently dealing with a troubling financial situation, you need to think carefully about what you should do next. The one thing that you should definitely not do is nothing at all. If you allow bad situations to develop at their own pace without intervening, you will live to regret it. Here’s why you should never do nothing when the situation concerns your personal finances.

Inaction Comes From Complacency and Overconfidence

The first thing to note is that people’s inaction so often comes because they are complacent about the situation they find themselves in and they don’t feel that anything too bad could possibly happen to them and their finances. If only that were true. To put it simply, your overconfidence and complacency will cost you if you take things too far and become too relaxed about serious situations.

Bad Situations Tend to Get Worse When Nothing is Done

When you do nothing in a situation regarding your finances, you will find that bad situations tend to get worse. This is the golden rule that you should always assume is true for you and your situation. You can’t just close your eyes and hope things will get better. Maybe 5% of the time issues will resolve themselves. But in the vast majority of cases, real action is required.

There Are Plenty of Ways to Get Yourself Out of Financial Trouble if You’re Willing to Act

There are so many things out there that you can do in order to get yourself and your finances back on track. That’s what it’s most important to recognise and realise. You don't have to remain trapped in the negative situation you find yourself in. It’s all about acting when the time is right for you to do so. Places like debtconsolidation.co can help you with consolidation. And you might even be able to get the debt reduced if you talk to your creditors.

Talk to People if You’re Unsure of the Next Step

Independent debt advice is out there waiting to be taken advantage of, and that’s what you need to do. If you’re willing to be aware enough to reach out and ask for the help you need, without your pride ever stopping you from doing that, you will get yourself back on the right path sooner rather than later.

Don’t Expect Something to Arrive Out of Nothing

There is never going to be a situation in which you can expect something to magically emerge that will solve all your problems for you. If you want to learn how to be more realistic and practical in life, head to theemotionmachine.com/a-realistic-approach-to-thinking. It might give you the advice you need to start taking action and stop waiting for things to simply resolve themselves for you.

Your finances are precious and you need to be looking after them properly at all times. If you just allow things to become problematic and you don’t do anything to put those situation right, you’re only going to land yourself in even more trouble before long.

The Potential of Penny Stocks

The working world is not for everyone. Office work can be stultifying to personal relationships, bad for family time and work/life balance. How do you make time for your family if you have tough bosses driving your noses to the grindstone? The commute can be a killer as well. What person can really enjoy a hour back and forth, twice a day, on a car and exhaust filled highways, just to get into a gray, drab cubicle, to work with spreadsheets every day.

That is where you can turn to day trading. Day trading and investing can be your ticket out of the rat race, a way to move beyond the cubicle life and get to a place of financial freedom. Penny stocks, studied and traded with wise, measured calm, can be a great vehicle to a profitable future. The key is learning just what penny stocks are in the world of day trading and how to make money off them.

Penny stocks do not actually cost a penny. They are stocks whose shares are priced between $2-$10 and they are hanging out at the fringes of the New York Stock Exchange or the NASDAQ. Or in smaller, lesser-known exchanges. They can be risky, if you approach them with no training or education in the strategy of day trading. So before you jump into penny stocks with both feet, take the time to engage with a proper day trading education site.

The art of momentum day trading can be broken down into discrete strategies and techniques that allow for real profits. It takes time to learn the strategies in online video classes. Then you can spend time watching over the shoulder of veteran traders in chat rooms, as they share their desktop screens and their vision of the market that day. That is one part of a good day trading education site.

The chat room experience can also offer you an opportunity to work with other people who like you, share the hopes and dreams of financial freedom. The day trading world, especially if you are in a home office can be isolating. It helps to have like-minded people in an online space that can give you a chance to hang out with other aspiring traders.

Then the day trading education site can offer you a paper trading experience that will allow you to hone your trading skills and risk management techniques without losing any actual money. Paper trading is a practice of using virtual currency to work in simulated market conditions that mimic the real thing. That way, you can test out strategies, make trades and get a feel for day trading without the chance of losing your life savings. One good rule of thumb is to get to the point where your daily profits in paper trading get to $200, which would translate to $52,000 per year, before you try out the real stock market.

Penny stocks can be a pathway to your profitable future, but only if you take the education part seriously and diligently.

7 Ways To Make Car Repairs More Affordable

Car repairs can be very expensive. When faced with big repair costs, many people resort to an emergency loan or cut their losses and scrap their vehicle. However, these aren’t the only ways of dealing with high car repair bills. Here are just a few ways to make a trip to the mechanics more affordable.

Have a rainy day fund

Everyone should have a rainy day fund. This is a savings account that can help to pay for expensive disasters, whether it’s a car repair, expensive medical treatment or property maintenance. They key is to only use this money in an emergency and to not dip into for general spending. These accounts can be great for paying for high deductibles, allowing you to lower your insurance rates.

Make an insurance claim

If the damage was not your fault, you may be eligible for an insurance claim that can help to cover repair costs. Don’t try and protect your no claims bonus – you’ll likely save more money by making a claim than you would from any bonus in the future. Always notify your insurer within 48 hours of an accident and only seek repairs once your insurer has paid you your compensation. You don’t want to get repairs only to find out that your insurer wants extra photos of the damage, which you then can’t supply.

Make a legal claim

It may also be possible to make a legal claim is the damage wasn’t your fault, particularly if you were injured. Personal injury lawyers may be able to win you compensation to help pay for any medical bills and vehicle repair bills. Search for experienced lawyer and look out for ‘no win no fee’ deals that could save you money if your claim is unsuccessful.

Shop around for car repair quotes

Different repair centres all charge different rates when it comes to repairs. Try to get multiple quotes from repair centres so that you can then compare prices and choose the cheapest rate. Be wary of some repair centres that may charge suspiciously low rates. It’s possible these repair centres may be making up for a bad reputation – check online to see if there are any reviews of the company. You don’t want to end up with a botch job that results in more future costs.

Buy your own parts

You can often deduct costs by ordering your own parts. Car repair centres make a profit on any parts they have to order in. There are lots of sites online that sell car parts, the cheapest of which are likely to be second-hand. These second-hand parts are worth considering, although you don’t want to buy anything too worn that may need to be replaced again in a few months. Always use trusted parts dealers that have a good online reputation.

Try some DIY repairs

Major repairs are best left to a mechanic, however there may be some small repairs that you feel confident enough to take on yourself. There may be instructions in your car’s driving manual when it comes to various small repairs like changing a headlight bulb or changing a brake pad. If not, you can find instructions for these tasks online through the likes of Youtube. Make sure that you have the right tools for the job. Some tools may be costly – in such cases, it’s best seeking a professional rather than investing in a specialist tool you may never use again.

Consider preventative maintenance

Most people getting their vehicle fixed will focus on the necessary repairs. However, in some cases it could be worth paying extra for a few preventative repairs in order to save money in the long run. A mechanic might recommend getting your cam belt replaced even if it is not mandatory. Replacing it early could prevent other parts getting worn as a knock on effect.

3 Financial Hazards To Avoid in 2018

With the new year comes (to borrow a parlance from Star Wars) a new hope. We hope for improvements in our jobs or careers. We hope for new levels of success and prosperity for our businesses. We hope for new accomplishments and achievements for our kids. New memories and milestones in our relationships. Most of all we hold out the hope that this will be the year when we finally right the ship in terms of our finances. This will be the year when all the bad habits of old will be cast aside and in instead 2018 will be a new era for financial responsibility. It will be an era marked by sage investments, sound and well informed fiscal choices and the curbing of some of our more reckless urges.

These goals are all very noble but be sure to steer clear of some of the financial hazards that could offset, or even completely derail your good habits in 2018…

New Year’s Eve

You may scoff, but after the traditional spendathon that is Christmas, do you really need to make it a one-two-punch with a pricey (and inevitably underwhelming New Year’s Eve). Restaurants, bars and clubs hike up their prices (sometimes so that they can pay their employees extra for their hard work but mostly just because they can) and some of us over compensate for this in some less than helpful ways. Loading up on booze before hitting the town is never a good idea. Not only will your tipsy state make your relationship with money more laissez faire, you’re more susceptible to trips, slips, falls and other wintry hazards which could injure you in ways that prevent you from earning money to recover from your festive spending. You may want to spend your New Year’s Day talking to a professional like Scott Gottlieb personal injury lawyer… but they’d probably much rather be with their families. Be money smart by limiting your activities (and your alcohol intake) this year.

Post-Christmas Sales

Seriously. You’ve just had Christmas. What more could you possibly want? The seasonal appetite for spending has been stoked beyond the normal spike created by Christmas with such manufactured occasions as Black Friday and Cyber Monday. You really don’t want another excuse to wreak havoc with your carefully planned finances do you?

Over-bullish investments

If your finances have made significant gains in the previous year, you may start 2018 with a buoyed sense of confidence. This is great, just try not to get too bullish with your investments. Many markets are in a strange state of flux at the moment especially with a whole lot of new regulations set to hit the financial services industry in 2018. Just look at the recent spike and slump in the value of Bitcoin and you’ll see what I mean. Keep your investments conservative and spread over a diverse portfolio until the markets see some hints at stability. You may not reap huge dividends but you’ll be insulated against risks. And risks can hurt you more than gains can help you in the long term.

So, You've Been Injured... Now What?

A personal injury is defined as either a physical or psychological illness or injury caused by someone or something, to your person. It can vary in type and will usually be an injury which you can claim some sort of compensation for in the long term.

If you want to make a personal injury claim for an accident you’ve been involved in, you will first need to establish whether or not it was your fault or someone else’s. If it was your own fault you will not be entitled to anything however if someone else was responsible for it, you will be able to push forward with a claim. You will need to provide the details of the other person or company along with a detailed account of your accident. The level of compensation that you will receive will depend on the fault which lies in the other party, the severity of the injury and the losses you have incurred due to the incident.

Most of the time when you are looking to make a claim for an injury you have sustained there will be a time limit of 3 years from the day of the accident. You will then need to find out How to choose the right personal injury lawyer for you, what forms and documents you will need to fill out, and how much you will have to pay for their legal services.

What should you do first?

When you are caught up in an accident and hurt yourself, the first thing you will need to do is to check your health. Make sure that you can move, check your body for any abrasions, lacerations or bruises, and figure out whether anything is broken. Once you have given yourself the once over and you know where your injuries lie, depending on the severity of your injuries you will need to ring 911, or get someone else to do it for you. Once you have been to the hospital and had a once over, you can look to start thinking about the next steps in your claim:

-make sure you collect any evidence you can to prove that the accident was not your fault. You may want to either take some photos of the scene, or if you cannot, get someone else to do it for you. This will be incredibly helpful for you when you come to take legal action. For example if you have tripped and fallen on a public road, you can take photos of uneven paving or potholes which the council should have fixed.

- Write down in as much detail everything you can remember from the accident, as well as everything which has happened since. You will want a record of all hospital visits, medical bills, lost wages and other expenses you have had to pay out.

- Record the names of any witnesses who saw the accident or who came to your aid as you were injured. Make sure you have contact information for them so they can be contacted.

- Take notes of the conversations you have with anyone else who has been involved in the accident.

- Make sure to notify the other party that you are planning to take action

Is there a time limit for telling the other party?

If you do want to make a claim against someone for an injury you have sustained, there is no time limit for when you have to tell them, however it would be better if you let them know fairly early on. By acting quickly with your claim and pushing forward as soon as you are able, you are more likely to resolve the claim. If you wait for a long time the judge may question why it has taken you so long to bother claiming for the injury.

Even if you don’t end up filing a lawsuit against another party for their part in your injury, it is helpful to let them know that you intend to. This is because it will preserve your rights and will make sure that you may proceed with sorting out your claim without being rushed by the other party.

Is there a time limit for making a claim?

There is. As we said above, the general time limit for the making of a claim is 3 years. Settling a personal injury claim can be a long process and will take a long time for things to go through the appropriate authorities. This is why ideally you will want to start making your claim and setting things in motion as soon as you can after the accident occurs. If you don’t claim within a timely manner, it means that the chances of you gaining any benefit from your claim is slim. The time you have for a lawsuit will depend on the type of lawsuit it is, but you will need to find out from a lawyer or do your research online to see what your specific limit is. By starting your claim early you will be much more likely to get it settled in the time frame and gain the compensation which you deserve for the suffering and losses you have endured due to injury.

How soon should I file a claim against the government?

If the unusual event occurs where you are going to be claiming for damages against the government rather than a company or individual, the time is more limited in which you can make a claim for it. The time depending on the type of case can vary from between 1 month to 1 year. This is significantly lower than the others and because of this is can be hard to make your claim in time if your injury is severe. With these claims it is more crucial than ever to act if you want to claim for compensation against the government, and get your case as watertight as you can to increase your chances of winning the case and bringing home the money you deserve.

"You Don't Need An Emergency Fund" - And Other Myths Young Adults Fall For

When you are growing up, you may have it drummed into you by your parents to save as much money as you can so that you have a cushion to land on should things go wrong in life. You need to be able to continue to pay your rent, groceries and utilities and you need to be able to live while you save up. Being smart financially is not always easy, especially when there are so many tempting ways to spend your cash. However, one piece of advice that parents give that is good to stick to, is to have an emergency fund.

Most young adults around you will tell you that you don’t need an emergency fund. It’s one of those financial myths that people get told and the reason it’s a myth, is because EVERYONE needs an emergency fund. If you were to find yourself off work because of an injury that changes your life, you would need to find and fund the best injury lawyer to ensure that you get the right compensation. You’d need an emergency fund to keep the bills paid while you recover, and you need that time to recover. The thing is, there are a lot of financial myths that young adults fall for every day, and bad financial advice is harmful – not helpful. It can really put you on the wrong foot if you are given advice that is simply incorrect, and you could be unwittingly led into financial disaster. So, what are the most common myths young adults are told about finances?

Always Leave A Balance On Your Credit Card

Nope, nope, nope. Most people believe that having a balance that is unused on your credit card can help your credit, but in reality, you should never carry a balance of any amount on your credit card. If you do, you pay interest, which means that the credit card companies are making a wedge off cash off of you. Clear the balance entirely every month and you avoid paying more than you have to.

Applying For A Loan Won’t Hurt Your Credit

In most cases, companies are now offering a soft search for credit applications. This means that when you apply for a loan or credit card, you can get an idea of whether you will be accepted without the footprint left on your credit file. The problem here is that any hard search could decrease your score, so this myth is definitely one that is only half true!

Stock Markets Are No Place For Your Cash

Mostly this myth comes from a lack of understanding of how the stock market works. Most people hear ‘stock market’ and also hear the word ‘crash’. Your cash isn’t safe in a lockbox in your house, but it wouldn’t stop you stashing it there for safekeeping before you go on holiday, would it? In the stock market, your money at least has some hope of keeping up with inflation, which isn’t something that will happen in that lockbox in the bedroom!

Credit Cards Are Evil

Usually this I something said by those who have mismanaged their cards and therefore been burnt by debt collectors and late fees. For people with a massive lack of impulse control, a credit card is likely going to be a very bad idea. But that’s not everyone, and you can’t buy into the myth that credit cards are bad just because your sister’s friend’s mother had a bad experience. As long as you are responsible with it, you can benefit from a credit card.

Stuff = Wealth

You could have purchased many things with loans or credit cards, but rather than looking wealthy, all you’re going to do is show the world how much debt you are in. Don’t forget that the more you purchase on your cards or with borrowed funds, the more you have to pay back. Your material possessions don’t equate to wealth, so don’t be fooled!

Money = Happy

Well, you never see an unhappy person speeding past on a jet ski, but that’s neither here nor there. Money, when managed well, can of course make you happy. But it can also be the cause of stress, depression and upset. The relationship between money and happiness is relative depending on the level of debt you have.

Being smart and not listening to myths is going to help you get by, so take everything you hear with a pinch of salt and make up your own mind.

The Most Overpriced Items That People Regularly Buy

No one likes the feeling of being ripped off. But there are some things that people willingly part with their hard-earned cash for even if they are paying massively over the odds for them. Well, in this article, we are going to shine a light on some of these to encourage you to think twice before making these purchases. With many consumers feeling more cash-strapped than ever before, it is worth asking the question: can you live without these things?

Movie Theatre Popcorn

When the drinks and snacks at the movies cost more than the ticket, you know something is going wrong. Movie theatres will purchase their popcorn in bulk and then hit you with a markup that it often as much as 1275%! And the rip-off doesn’t stop there with soda and bags of candy costing way over the odds. When you think that you could buy a good meal for what you are paying in movie snacks, it may be worth reconsidering your choices.

Greetings Cards

So many events during the year encourage you to buy greetings cards, and just think how much you are spending on those overpriced pieces of paper! $3 is standard and you will be paying even more for branded greetings cards. When you think that you could make a card on your own for just a few cents, getting a little creative seems like the sensible choice every time!

Books

Paying full-price for books seems a little crazy in this day and age, especially with so many second-hand retailers out there offering significant discounts. After all, if you can read the words on the page, there shouldn’t really be too much of a problem! Also, making the switch to reading books electronically can save you significant sums of money and you can even get many titles for free.

Bottled Water

In developed countries, water is one of the most abundant resources available for free from water fountains and taps pretty much anywhere you go. Nevertheless, many consumers are willing to work out a few dollars just to get their hands on it. A big percentage of bottled water comes from municipal taps and may not even undergo additional filtering. Hopefully, this fact alone encourages you to carry a refillable bottle around with you at all times.

Branded Clothing

The fashion industry is a clever one, dictating what is in style and then charging you a huge sum of money to get your hands on it. Next season, the style inevitably changes and you will have to fork out again. Simply waiting until the end of the season or using coupon sites like DontPayFull can save you a significant amount of cash. And avoiding the big brands can really pay, as the markup is often as much as 500 to 1000%.

So, hopefully, this article has encouraged you to think again before making any of these purchases. The little habits that you change all really add up in the long run, helping you to live a more financially secure life.

How Much Money Can You Make from Day Trading?

With each passing year, it seems making ends meet becomes more and more difficult. This pretty much forces countless people to seek new and interesting ways to earn income, with many finding lucrative opportunities via the internet. If you have a bit of capital or a great idea, there are thousands of ways to make technology work for your bottom line.

Anybody with an internet connection can easily invest and trade online from the convenience of their office, their home, or anywhere else. This has led to a new generation of day traders who earn significant sums without ever leaving the house.

This begs the question: just how much money can somebody realistically make from day trading? We'll take a look at the answer and give you the details on what to expect.

Consider Your Capital

One of the biggest factors in how much somebody can earn day trading is how much they invest initially. The larger the amount of money invested, the more dollars that can be earned through each trade. Generally, investing a minimum of a few thousand dollars is recommended, as this will allow for daily returns to be potentially equivalent to a daily salary.

It's also worth noting that the more money you have to invest, the more you can make with reduced risk. For instance, somebody investing $5,000 who wants to earn $1,000 in one month will have to make riskier bets than somebody investing $20,000 who wants to earn the same.

Knowing What You Know

Another crucial component of earning money via day trading is the inherent knowledge you have of the markets. Regardless of the stock or instrument being traded, a lack of understanding about the industry, market conditions, or other factors can turn a seemingly great buy into a huge regret.

As such, day traders must work diligently to understand basic market conditions and pursue new information proactively. A variety of resources and tools exist that can help day traders, such as social trading platforms. Sites such as InvestinGoal help explain the pros and cons to social trading platforms and what benefits they can provide.

To Leverage or Not to Leverage

A huge factor in how much can be earned via day trading is whether you utilize leverage in your trades. Via leverage, you can multiply the amount of usable capital in your account, potentially amplifying your investment several times over.

However, for day traders – especially those who are new – this can be a risky gambit. If you suddenly take a big loss, it will disproportionately impact the amount of capital you have. Generally, leverage is only recommended for those who have at minimum an intermediate understanding of stocks, trading, and how leverage can impact such factors.

Ultimately, day traders' earnings can vary considerably depending on their investments, leverage, and market conditions. Many day traders with a bit of experience can expect to earn around 15% monthly with an aggressive and micro-managed approach, but yields can be more or less depending on multiple effects. With this information in hand, you can begin researching day trading more extensively and decide whether it is a good investment approach for you.

Big Steps Towards Better Financial Happiness

While money doesn’t explicitly buy happiness, it sure helps when making big decisions. Taking the first steps towards greater financial happiness can be a scary time, but worrying about it will only end with missed opportunities.

But how can the average person achieve such financial contentedness? With the options available nowadays, there are a plethora of opportunities possible for you to take advantage off and work towards that financial freedom that so many crave. Here are just some.

SEARCH FOR SMART INVESTMENTS

There has never been a better time in history than now to get involved in investing. Every day, companies are being founded, and new technologies are being developed that look set to revolutionise and disrupt the way the world works.

By identifying these companies early on through smart and thorough research, you might just be onto a winner. Looking at recent tech trends, and areas of the market that have been neglected will allow you to find the perfect startup to contribute to and reap the rewards once it makes it big.

While nothing is certain when it comes to investments, approaching it intelligently and investing your money wisely opposed to a dangerous and haphazard approach, you might just find the world’s next Google, Netflix, or Apple.

DEVELOP YOUR OWN BUDGET

Budgeting can be a truly dull thing to do and taking a look at your finances often makes you wish you hadn’t bothered. But, to attain more financial freedom and happiness, a proper budgeting plan will almost make it feel like you have generated money out of thin air.

For things like this, it is good to start small. Do you need that Starbucks on the way to work every day? Do you really need to order takeout when you have all this food in the house? Eliminating the small spends early on will set you on the right path towards approaching some of the bigger money drains that you might identify along the way. Once this has been achieved, you will have earned yourself a reward, be it a new gadget or a change of scenery, all because you’ve begun pinching the pennies, instead of throwing them away.

SELL YOUR HOUSE

It might seem like an extreme suggestion at first glance, but the realities of being able to sell your house for cash in today’s market will allow you to explore other avenues in life. Being tied down to a certain location can get monotonous after a while, and choosing to do away with one of those anchors can open up opportunities for you to take advantage of what the world has to offer.

Further benefits of selling your house for cash include not being let down by the buyer, as there is no need for the deal to fall through after getting a loan rejected. This has the potential to set you up nicely for whatever path you choose to take next.

While it pays not to be wholly dependant on financial happiness, choosing some simple (and some not-so-simple) steps will aid you in setting yourself up nicely for the future. You may feel that everything will work itself out, but creating good financial habits now will pay great dividends in the future.

Financial Habits That Everyone Should Adopt In 2018

Financial responsibility should be a priority at all times. Still, January 1 signals the start of a new chapter and is the perfect time to embrace improved habits for greater long-term stability.

It doesn’t take too long to adopt new habits. In fact, getting a head start now could put you well on the way to achieving greatness by the time 2018 arrives. Let’s take a closer look at some of those most rewarding ideas.

#1. Make Money Work Harder

It’s a sad reality, but most people don’t earn nearly as much money as they’d like to. Therefore, supplementing your career earnings with external revenue is key. The realm of investments can be a volatile one, but also has the potential to be very rewarding. Overhaul your strategies in 2018 to see your personal wealth grow at a quicker rate than any bank account. In turn, both the immediate and long-term financial situations will look better than ever.

#2. Make Money Last Longer

As well as growing your capital, you should look to get more bang for your buck. After working so hard to earn cash, allowing it to leave your pocket any quicker than it should would be nothing short of disastrous. Services like couponmom.com enable you to reduce weekly shopping bills. Similarly, comparing everything from car insurance to cell phone provider helps too. Reduce overheads without sacrificing your enjoyment, and you’ll notice the difference in no time.

#3. Stop Wasting Things

There’s nothing quite as frustrating as losing money. Unfortunately, most people are far more brazen with their assets. Simple ideas like upcycling clothes or selling unwanted goods will boost your financial health. Likewise, buying used items, ranging from cars to fancy dress outfits, can promote a better bank balance. One way or another, giving them the same level of attention as cold hard cash is essential.

#4. Borrow Money In A Responsible Manner

It’s very common to take on debt in this life. This could come from buying a home or car on finance. Alternatively, you may have fallen behind on payments due to unforeseen circumstances. There’s nothing wrong with borrowing money, but you must do so in the most efficient manner. Even with short-term lending, visiting best.creditcard can have a telling impact on interest rates and payments. If taking extra care here promotes greater financial stability, it has to be worthwhile.

#5. Monitor Things

Organizational skills and financial control bring many benefits. Managing payments ensures that you escape needless charges while allowing you to maintain a budget. Better still, you can easily pinpoint areas where you require cutbacks. If nothing else, it removes the element of surprise which often causes major problems for personal finances. Besides, being prepared for the worst also means any work bonuses or extra funds become far more rewarding.

Embrace those habits over the coming weeks, and 2018 should present a healthy boost to your financial situation. Regardless of your background, this is something that will surely make next year feel better than ever.

The Biggest Financial Mistakes Made By The Modern Generation

Everyone makes mistakes in life, but financial matters are an area where nobody wants to fall victim. In reality, though, most people are guilty of some very preventable issues.

Here are five of the most common among today’s generation, along with some advice to avoid them.

Buying A Property Too Soon

Becoming a homeowner is an important goal both financially and personally. However, the pressure to buy a home shouldn’t encourage you to swoop too soon. In truth, the price paid for the house isn’t the only cost you’ll encounter. As such, being prepared for agency costs, surveys and the other items is crucial. If you cannot afford them right now, renting a little longer is fine. Apart from saving a bigger down payment, it’s often less stressful.

Relying On Standard Retirement Pensions

Retirement is slowly creeping up on you, even if you’re in your twenties. Your standard pension plan will give you a basis, but it won’t be enough to help you live a comfortable life. Investments such as gold IRA funds can increase your wealth significantly. Given that life will inevitably get a lot tougher once you’ve reached retirement age, this extra safety net can make a world of difference. Frankly, assuming that things will be OK without it would be very naïve indeed.

Overlooking The Small Costs

Overheads and expenses are just as pivotal to your financial situation as revenue. Most people appreciate this and will actively make the right moves to save money on major purchases like cars. In truth, though, the savings made on daily transactions is where you can reap the biggest rewards. Whether it’s using coupons for cheaper groceries or tailoring a home TV package to suit your genuine usage doesn’t matter. Wasting money by needlessly overspending will take its toll on finances for many years to come. Prevent this from being an issue, and it’ll pay dividends.

Forgetting Credit Scores

Many people assume financial wealth is solely about bank balances and assets. However, leaving doors open is an equally important factor, which is why your credit history is so vital. A lot of people allow their credit scores to stay low before inevitably falling into greater debt. Repairing yours isn’t an easy job, but it will enhance your future for many years to come. Given that we live in a world where borrowing money is a regular feature, ignoring this is a financial sin.

Not Appreciating Their Worth

Perhaps the worst thing anyone can do, however, is let others take advantage. You’ve invested time to develop skills, earn qualifications and gain experience. As such, you deserve to be paid a suitable salary. Online job boards make it easy to check what people in similar roles command. Talking your way to increased pay is achievable while you may also want to look for opportunities elsewhere. Even if you love your job, payment is the main incentive. Do not forget it.

Avoid those mistakes at all costs, and your financial future will look better than ever. Quite frankly, that’s something that can be appreciated by all.

Do you think you are ready for your retirement?

A few decades ago, retirement planning was quite straightforward. People got well-paying government jobs and stayed on in the same company until retirement. After that, the company’s pension plan supported them financially. But times have changed. It is rare to find someone in the same job for more than a few years. As a result, the onus of retirement planning has fallen directly on the individual. But the fact is, many people do not think about retirement planning until it is too late.

Importance of retirement planning

Imagine the following situation. You are in your early 30s. One day, you bounce into your old college friends. You go out and have a blast. The bill is huge. But that’s not a big problem because you can afford it. You know exactly when your next pay cheque will arrive.

Fast-forward thirty years or so. You are retired. In other words, you don’t have a regular source of income anymore. What would you do in case you have to foot a huge expense all of a sudden? If you have access to a good corpus of money, great! But otherwise, you may be in trouble.

Financial independence during your golden years is the main reason why you should start thinking about retirement planning today.

• Rising expenses

Twenty years ago, a cup of coffee didn’t cost more than a few rupees. Today, the same cup could cost you at least Rs 50 in a good restaurant. If you are wondering how it is possible, the answer is quite simple: inflation. In other words, your daily expenses are only going to rise over the years. So even your daily goods such as rice, sugar, coffee and tea would cost a lot more thirty years later. And if you are not prepared for the rise in expenses, you may be forced to change your regular lifestyle to accommodate these changes.

• Rising cost of medical expenses

The other major problem during retirement is the cost of medical expenses. Increase in health problems during old age is a natural phenomenon.Bad knees, poor eyesight, diabetes and arthritis are a few problems that you commonly find among older people. And if you haven’t planned well for your retirement, a substantial chunk of your savings can be spent on medical expenses.

To make matters worse, healthcare costs are spiralling out of control. Some studies show that hospitalisation costs are increasing by 10% every year.

Therefore, the only way to ensure you enjoy a happy and peaceful retirement is through an efficient long-term investment planning.

Create a retirement plan

The journey of a thousand miles starts with a single step. Same is the case with your retirement plan. And the best time to take that step is today.The first step is to identify how much you would like to save for your retirement. This would be based on your current income level and lifestyle. For instance, if your monthly expenses are Rs 40,000, it can be difficult to drastically cut them down after retirement. You might also want to travel or pursue other hobbies. All this can be expensive. Identify your potential expenses and take inflation into account. When you have a rough estimate, you can start your investment plan to achieve your goals.

How investment helps in securing a healthy retired life

One of the main goals of retirement planning is to create a large corpus for your sunset years. You can do this through long-term investments.There are many retirement and pension plans in the market that you can consider. In addition, investing in equities is one of the best ways to do achieve your long-term goals. This is because they have the potential to offer high returns for the long term.

But if you are hesitant to invest in the stock market, equity mutual funds are ideal for you. They are less risky than directly investing in the stock market. Besides, the long-time horizon ahead of you can balance out any hiccups you may encounter on your investment journey.

It is also bestto consider taking out a long-term health insurance to finance any health problems you may encounter in your retired life.

To sum up

In the end, the important thing is to be financially independent in your retirement years. You shouldn’t depend on your children for financial help. On the other hand, it might be a better idea to leave them something from your own side. You can ensure that a part of your retirement savings contributes towards your family’s future.

Begin 2018 With An Investment Overhaul

There is no better excuse for a reassessment of your investment portfolio than the emergence of a new year. While many friends and family might be making resolutions to shift the extra few pounds put on over the festive period, attend the gym a little more regularly or spend more time traveling the world, you are keen to get your finances in shape. The most common route down which to see your money grow into a worthwhile nest egg is to leave it in the safe and secure environment of the bank. This is the least lucrative yet least risky way of accruing money. However, you’re keen to explore your other options and want to see if there are any better ways to invest your hard earned cash so that it works for you more aggressively.

Property

Bricks and mortar has been the go-to investment for people who are growing a little frustrated with their lack of return at the bank. If you have the funds for a deposit on another home, you should be able to purchase a second property to rent out. Get the calculator out and do some number crunching to ensure that any monthly rent that you achieve will cover your mortgage repayment. If you can find a humble abode that ticks along nicely without you spending too much money on it, you could have stumbled across a sound long-term investment. Over a decade or so, your property will be sure to have increased in value and given you a return much greater than merely having your money sat in your savings account at the bank.

Trading

Whereas stocks, shares and Forex were once the domain of professional investment bankers, hedge funds or those with millions of dollars burning a hole in their pocket, they are now much more accessible to the masses. Head to a site like investormint.com, and you’ll discover a wealth of impartial reviews regarding trading platforms, stock tools and financial decisions.

You could choose to specialize in a certain aspect of trading such as the buying and selling of foreign currencies or you might wish to take a jaunt into the world of cryptocurrencies. This burgeoning market is in its infancy making the market highly volatile but the returns potentially astronomic. As with any ultra high-risk investment, only use the funds that you can afford to lose and never see yourself venturing into debt.

Wine

A little-known avenue down which to pump some of your savings is wine. The wine market is buoyant with investors buying up cases of vintage years of chardonnays, beaujolais and shiraz. Wines like those listed at wine-searcher.com get better with age, and like antiques, they become rarer and more sought after. Investing in wine has outperformed equities 98 percent of the time over a five year period making it a solid and relatively low-risk investment option as long as you’re not looking to make a quick buck.

Make 2018 your most financially prosperous year yet by heeding some of these investment tips and watching your nest egg grow.

3 Ways To Get The Most Out Of Your Money

Looking to make that extra cash?

There are many ways out there for you to make more out of your money, so why not give it a try? We’re going to look over a few of the ways you can make money without working, and just investing. Usually, you wouldn’t look for this kind of opportunity if you have a tight budget, as it may take quite a large start-up investment. So be prepared to fork out some of your savings if you want to get your income started.

The way investing usually works is, the more you can put into it, the more you can get out of it; which is what we’re going to go over below, so look out for the method that would suit you and your budget the most.

Real estate

It’s quite common for people to invest in real estate, as there is money to be made with it. Real estate would definitely be one of the most expensive options you can pick when it comes to investing, but the more you can put into it, the more you can get from it; so take your time and pick the best place for you! There are many factors to consider when it comes to renting out a building (check over at http://www.yourfinanceformulas.com/2017/10/home-zone-how-will-you-buy-yours.html), as it doesn’t always have to be for residential use, nor does it have to be used for one singular tenant. Some landlords have their buildings turned into apartments, which in turn could generate more revenue with two tenants paying a percentage of the full price. You also need to make sure that the area is right for what you want to use it for, which can really affect the income you get. Typically, the nicer the area, the more you’ll have to pay for the building, that said, you should be asking for more from the tenants in return.

Commodities

Commodity trading can vary a lot in price, as you’re not really buying a fixed product. If you visit https://commodity.com/, you’ll see that you can invest in a great many things and many of which can come at either a cheap or expensive price. With commodity trading, it’s very important to do your research into what you’re buying, as you want to make sure you can make back what you spent on it, and some. You need to look into the demand of what you’re buying, and sustainability of it, otherwise you could end up out of pocket. For example, if you invest in Bitcoin, you want to know if the value of it is likely to rise, and you need to make sure that you’re not gambling blindly. Just like real estate, the more you put in, the more you can make in return, so pick wisely.

Shares

Just like commodity trading, you really need to do your market research. You’re not necessarily investing in a product as such, but a business as a whole. When you buy a share of a business, you technically become one of the owners, and you are liable for that percentage of the business. If the worth of the business increases, your share also increases, and the same as if the business decreases in worth. So make sure you know about the business’s activities, and learn where you’re putting your money.

Graduating Debt Free: Can It Really Be Done?

It's a very modern Catch 22. We recognise the value of a degree - not just for what it can do for our future career prospects and personal development but also for the value of learning in itself - but the crippling costs of tuition fees and independent living are excluding many people, especially those from less privileged backgrounds, even as targets are set to try and increase the diversity of university populations. But is it possible to gain an education without emerging crippled by debt? We take a look…

Finding Scholarships

Scholarships and bursaries are the surest route to take of the majority or all of your tuition costs - but how do you know where to start? What’s available to you is highly specific and depends on the course you study, the institution you choose to study at, your personal circumstances, interests and abilities. Start by taking a look at a scholarships portal or contact universities you are interested in to scope out what’s available. Start your search early, as many schemes will have strict application deadlines. As your credentials and predicted grades will change over time, check regularly for new schemes you may become eligible for. It may also be worth checking in with charitable foundations that support education, particularly if you have a religious affiliation.

Employer-Sponsored Subjects

If you are interested in certain subjects where there is a big demand for knowledgeable graduates, such as engineering or business management, you may be able to find courses partly or wholly sponsored by the employer. Imagine- a tuition-fee free degree! They usually come with a condition of employment attached as well, solving the dilemma of finding that first graduate level job. Many will include practical modules working in the business which gives a solid practical experience. But you may have to be flexible on exactly what you study and specialise in. Graduating with no debt, earning a higher than average graduate salary is certainly worth looking at a change of subject for!

Working life as a student

Depending on your course of study, you may be able to combine working and earning a salary with your other commitments. A wide range of subjects offer the option to take the course part-time, leaving time for work as well. If you’re already in a job, there are complementary degree options from postgraduate business qualifications to a policing program designed for actively serving police officers - so learning can fit around the job. Many students choose to study full time and then work in part time jobs that fit around their study too- but this is a choice that needs to be carefully managed as it can lead quickly to burnout.

Whichever route you choose, studying without being saddled with debt is difficult- but not impossible. If you’re committed, a little flexible in your choice of degree and just after the quickest route into a well paying graduate job, with a little research and hard work it’s possible to get that mortar board without a loan statement attached.