Showing posts with label financial plans. Show all posts
Showing posts with label financial plans. Show all posts

Feb 18, 2019

How to choose the best investment for you

Investing can be an exciting venture to undertake and a great way to boost your overall income. Whether you’re trying to save for a more financially stable retirement or you simply want to reach certain financial goals, investing is something everyone should consider at some point in their lives. When choosing the best investment to undertake, there’s a range of options you could go for, with different benefits to each. From property to stocks, here’s a simple guide on how to choose the best type of investment for you.

One of the most popular investment types is property investment, with over two million property investors in the UK alone. There are a whole host of benefits that come with investing in property, the main ones being the opportunity to generate more immediate returns on your investment along with large returns from capital appreciation. If you choose to purchase a property for buy to let purposes, you’ll be able to generate a consistent amount of income each month through tenants rental costs, with higher rental yields bringing in better returns. Then, once you decide to sell your property later in life, you could find that the property has actually increased in value thanks to capital growth, leaving you with an attractive return on your initial investment.

Of course, while property investment can offer some attractive prospects, this is largely dependant on the area you choose to invest in. In London, for instance, the property market is in a declining state, with a decrease in house price growth and low average rental yields of 3.05%. This means that those investing in a buy to let property in the capital aren’t likely to see the returns they’d like. In property hotspots like Liverpool and Manchester, on the other hand, the property market is thriving. Those who choose to invest in these cities can expect high rental returns, a strong level of rental demand, and a lot of potential when it comes to capital appreciation. Some property companies based in the north-west such as RW Invest even offer opportunities with rental yields as high as 7 and 8%, with much more affordable prices than many other UK cities.

While property investment can be a great path to go down, stocks and shares are often the preferred investment type for many. With this form of investment, you’re able to buy small fractions of a company which entitles you to a return on investment if the company’s value rises over time. While stocks and shares allow you to spend less money on an investment, there’s often more risk involved compared to property. Without the right knowledge, you could come out of your investment with less money than you started with. For those who don’t have much cash to spare but are keen to get involved with this type of investment, a stocks and shares ISA is a good option. A number of companies such as Moneybox have started developing app’s for this purpose to provide an easy and hassle-free way for people to try investing, instantly investing small amounts of users money into global companies through simple tracker funds.

There’s certainly a lot to think about when deciding which investment route to take. To put things in perspective, it’s worth comparing the track record of each investment type. For instance, between 2000 and 2017, research showed that the average UK home’s value significantly outperformed the Financial Times-Stock Exchange. While both investment types can bring good results for the investor, information like this suggests that for those looking to make a big impact on their financial status, investing in the UK property market may be the best route to take.



Jul 17, 2018

6 Dos and Don'ts of Shopping for a Personal Loan

6 Dos and Don'ts of Shopping for a Personal Loan

Your monthly salary typically covers three types of expenses: fixed, variable, and discretionary.  If your monthly earnings can’t pay for all these and some other unexpected expenses, you will need to look for an additional source of funding.

A personal loan can help you pay for all these expenses if you are having a hard time doing so. It can also serve as a cash cushion and as an emergency fund which you can dip into whenever you need to.

Finding the Right Personal Loan

To get a loan that will meet your needs and payment capability, you need to shop around for the best product first.

Here are some dos and don'ts of shopping around for your first personal loan:

Dos

1. Check your credit score

Before you begin your search for the best personal loan, check your credit score first. There are various online tools you can use to be able to do this. If your score is a bit low, certain websites can give you tips on how to improve it.

Make sure you complete this step before you start shopping around for a personal loan provider. Keep in mind that if you have a high score, you will have better chances of getting great deals and lower interest rates.

In case your score is low, consider applying for a loan later until your credit score has improved. A good start is to pay off your credit card balances first.

2. Inquire first at banks and financial institutions you know

Chances are, you already have an account with one or two banks. You can start your search for a suitable product by finding out the different types of personal loans your bank offers.

Ask your bank representative what loan amount you can get and if your credit score can qualify you for a low-interest rate. Check the terms and conditions as well.

You can also ask your credit card provider if they have some personal loan offers, too. You may even be offered the chance to consolidate your credit card debt with the loan which is an option worth considering.

3. Be cautious when shopping for personal loans online

Going online is the easiest and most convenient way to start searching for a good loan product. However, you have to know which banks and lenders offer legitimate deals.

Some online lenders, for instance, target people with poor credit by promising them loans without checking their credit history. Avoid these sites since all loan applicants will undergo a credit check. They may even charge big fees or request loan payments in advance.

Don’ts

1. Apply for personal loans from several different lenders at the same time
When shopping for a personal loan, simply shop. Study the different offers and ask the different providers for additional details. However, do not immediately apply for products that you find interesting.

When you submit your loan application online or at the bank, the lender will immediately check your credit report and history. Your file receives a mark whenever this check is carried out. If you get too many marks from your multiple loan applications, your credit score will go down further. 

Because of this, lenders will see you as more of a credit risk. Your loan application will likely not be approved or you will be offered a higher interest rate. 

2. Get a loan without knowing how much you want to borrow and the right payment term

If you have a good credit score, you can apply for a high loan amount which the best banks will be happy to offer. However, you don’t have to get the highest amount possible.

You need to determine a suitable amount that will cover your current and possible needs in the future. In addition, it should be something that you won’t have difficulties paying for every month.

It is also best to look beyond monthly payment amounts if you’re still shopping around. It is often better to get a two-year loan with a higher monthly payment than a five-year loan with a smaller monthly fee. This is because the longer you take to repay the money you borrowed, the more a loan will cost you in interests overall.

3. Ignore accompanying fees and the loan product fine print

Once you have a list of the best loan products you can qualify for, make sure you know all the fees that come with each.

Take the time look at and calculate the following:

● Annual percentage rate (APR)
● Loan origination fee
● Interest accrued over time
● Early repayment charge

Lastly, before submitting your application, read the document properly. Ensure you understand all the terms and conditions, and that they match the ones that the lender advertised and had been discussed with you by the representative.

If you are unsure about anything, get in touch with a representative of the bank or lending institution to get additional information or a clear explanation.

A personal loan can help you out during your time of need. But do remember that you will have to repay the loan and, as such, you have to be careful in choosing a loan product. You have to be 100% sure that you will get an amount you are comfortable with and won’t have difficulties making monthly payments for in the next few years.

May 23, 2018

Secure Your Child’s Future with the Best Buying Tips

Child Future with the Best Buying Tips
Child insurance plans are specially designed for growing child so as to meet their increasing costs of education and other financial requirements. It provides risk cover related to the life of child throughout the policy term and during extended term, that is seven years after the expiry of the policy term. As the education cost is growing rapidly, it is essential to have a child insurance plan for the better future of your child. This is the plan that will help you provide your child the best education and ensures the cash flows even at the crucial stage of your child’s life.

Feb 24, 2014

Money Moves: Imagine Playing Your Financial Life like a Chess Game

To say chess is a popular game would be a gross understatement. Chess, for at least 1500 years, has been considered to be not just a game, but a true test of intellect and character. One can learn a great many things about chess that can be applied to one’s life, not the least of which is one’s personal finance. Chess is a game that requires patience, foresight, and an ability to understand your opponent. Much like your personal finance, these qualities are required for you to come out on top in the end. Here are a few things you can take away from playing chess and use to improve your financial life:

Jun 24, 2013

The Top 4 Reasons People Fail at Budgeting

Budgeting isn’t easy, and many people experience difficulty trying to get the most out of this essential financial tool.  While the concept may sound simple, adhering to your budget could be a lot harder than you might think.  To help you experience success, here are the top 4 reasons why people fail at budgeting.

Jun 5, 2013

How to Raise Money in Tough Times

The economy is in a pretty hard place for everyone at the moment. Each day, it can seem as if everything’s getting more expensive, while the amount of cash in your pocket just isn’t matching up to this change in lifestyle.

Rather than sitting back and doing nothing, it makes sense to tackle the problem head on by looking at clever ways to get more money coming in to beat the ailing economy.

Jun 3, 2013

Binary brokers: Take your pick from US friendly trading providers

When we say that a particular broker is US friendly, it simply means that the broker abides by the norms of FATCA or Foreign Account Tax Compliance Act. In USA, all types of income are subjected to taxation rules, regardless of whether the income that is being earned by US citizens is from within the country or across the border. The investments made that are subjected to taxation also include cash that you have spent for binary options. As such foreign brokers that agree to deal with US citizens have to disclose all kinds of income as necessitated by FATCA.

May 31, 2013

When PPI Sellers Break the Rule of Selling, You Can Claim Your Premium Payments and Interest Back

Over the past several years, banks, moneylenders, and insurance providers have been caught to be mis-selling Payment Protection Insurance to their customer, which eventually caused them a lot of trouble. Complaints and reclaim cases have started flooding their offices because consumers were extremely unhappy with how they were treated.

May 21, 2013

Practical Tips to Improve Your Credit Rating

As the economy continues to be in doldrums, lenders are becoming very cautious to the people they give credit facilities. Some lenders charge high interest rates to individuals with poor credit rating as a way of mitigating the default risk involved. A good credit rating will definitely boost the chances of getting financial products such as mortgages, personal loans and credit cards from banks and other lending institutions. On the hindsight, a poor credit rating will limit your borrowing options. It is therefore very important to put strategies in place to improve your credit rating. Discussed below are ways you can improve your credit rating:

Weaknesses to be Known Before Investing in Exchange Traded Funds

A small as well as big investor always treats Exchange Traded Funds (ETFs) as a grand investment. Considered similar to standard mutual funds, these funds trade like stocks. However, this does not mean that one can blindly invest in them without knowing about the shortcomings or weaknesses. In fact, a wise investor will always look at both the sides of the coin to gain possible information. After all, complete and precise information acts as a vital decision-making tool for the investors. So, discussed below are some weak aspects of ETFs that every investor needs to know and understand.

Apr 30, 2013

How to adapt your home on a budget

For people with mobility and financial problems who have to adapt their home to create a workable environment, life can be very difficult. On a tight budget what can you do if you need your bathroom or kitchen structurally changed?

Get help

Firstly you need to look into any possible help that you may be able to get in the way of grants or interest free loans. Contact your local Housing or Environmental Health departments. They will be able to tell you if it is possible to put in an application. Depending on your circumstances and that does not mean your savings; they may be able to help.

Mar 21, 2013

Underlining the Importance of Getting Insurance

In today’s elaborate financial world, insurance has established its place as one of the most important financial products you can find. The process of safeguarding the interests of different groups of people from financial uncertainties has inspired the blossoming of the insurance industry. Having an insurance policy is not only considered useful in these modern times, but also necessary for individuals as well as businesses. But why is insurance given such gravity?

Dec 15, 2012

Home Insurance and its Advantages

Insurance Companies are sprouting in the business industry nowadays. This just proves to show that the call for the insurances (future security) is getting louder and louder, which was indeed heard by many business owners. Indeed having a security over any property against other possible damages in the future is not just merely a fancy but a necessity because investments are rightfully protected. This is the reason why most businesses nowadays revolve around insurances, because they can see the different probabilities that might come their way in the battlefield of all odds.

Dec 8, 2012

Need A Investor? Here's How To Get One

If you expect investors to revel at your super cool business ideas that's not going to happen and you know that - the reason is simple; the economic recession many people have become jobless and since many of them have turned to businesses, the investors have become more choosy. You’d get the real picture if you visit a financial institution or a bank looking for funding for your business. You would definitely find people assuring you that they are going to approve loans for you, but no one knows for sure when that is exactly going to happen and if at all it is going to happen. So, the bottom line is - if you want to start a business you have to have money of your own! But, isn't there any other way out?

Oct 19, 2012

High Yield Bonds Prove to be a Risky Way to Drive Investments

Return on investments is the most important aspect attracting investors to select any financial instrument. The potential risks attached to high yield bonds are overlooked by most in lieu of the great returns they offer. But a number of risks must be gauged to mitigate risk in the portfolio.

Jul 19, 2012

Life Insurance: A Better Opportunity to Spend a Royal Life

The options are many and appealing but the matter of fact to pick the life insurance and the company whose offering is more reasonable and reliable raises a need to conduct research before unveiling an attractive opportunity for the safe and secure future. Nowadays, youngsters are more inclined towards attaining a life insurance policy due to awareness of the futuristic benefits that come along with it. Life is unpredictable therefore purchasing a life insurance policy whenever a person gets aware saves in all respects of living.

Taking life insurance policy in older ages to secure the life of heirs has not become a phenomenon anymore. Now the concept to attain this product has changed the thinking of consumer and the older group has not become the target market only.

Jul 18, 2012

Hiring a Freelance Bookkeeper: What does it Cost?

In business, the main goal is to make a profit. Unfortunately, not properly keeping up with the books can eat away at any profit a business might otherwise have gained. Keeping accurate records of expenses and outstanding debts is crucial to the success of a business. Many business owners find it is helpful to hire a bookkeeper to help in that area. Bookkeeping services in Melbourne can vary widely in cost however; here is an estimate of what it would cost to hire a good free-lance bookkeeper.

Bookkeeping rates will vary based on several factors. Depending on the amount of education a bookkeeper possesses their fee will change. For example, a bookkeeper with any accountant degree will charge considerably more than a bookkeeper who does not have a degree. Nevertheless, a bookkeeper who has considerable experience yet no degree is still a very big asset to a business.

Jun 26, 2012

Online Small Lenders and Grants For Women

In today’s world women are being more and more prominent. They are hard working mothers. Some are even working to support their entire family because they are single moms.  However the financial aspects of being a working women can be traumatic. Depending on the society you live you women may find it that they are not allowed to work or go to school.  Often times they are kept inside their homes to keep the household running smoothly.

However most women find that they can be successful outside of the home and inside the home often doing both at the same time. They are working mothers who are often going to school to better themselves while working in the corporate field. For more information click here.

Jun 23, 2012

What to Toss, Save or Shred While Financial Spring Cleaning

Spring is the time to clean the garbage and get rid of those heavy, useless financial papers. Knowing what to keep and what to do away with is a difficult thing. Given below is a list of documents that you should toss, shred or save for future reference.

What so Toss:

Home Improvement Documents


No one is interested in your home improvement documents, but the tax authorities. Once you get your tax cleared, it’s time to get rid of these heavy documents.

Jun 21, 2012

Tips for running an efficient hospital

The importance of running an efficient hospital cannot be underestimated. It literally can be the difference between life and death.

Many people feel strongly about the subject of hospital efficiency. Not only because hospitals save lives, but also because it's taxpayer money which helps to fund the services. This article explores some tips for running an efficient hospital.