Money makes the world go round...

This blog can help you about the right management of your finances, tips on staying how to stay away from debt, and so many more.

Money makes the world go round…

This is an old saying that people believe and so people have jobs to suffice their daily needs and wants. However, people just keep on spending money and sometimes it is spent on what it is not intended for. Good thing that there are people who are financially educated, especially in personal finance management. They want to share their thoughts on things and they want to educate and inform others as well.

This blog can help you with the right management of your finances, tips on staying how to stay away from debt, and so many more.

What We Do

Personal finance is an important thing that every person should know; however, it is one of the ones that is usually neglected. Some people have not found its importance because they do not know its importance.

This blog aims to help those people who do not know how to manage their personal finances. They will be reading about tips on how to budget, how to save, and even how to stay out of debt.

The author of this blog is a financial adviser who was also lost to spending too much on clothes and shoes. This time, she is willing to share what she has learned and she is willing to guide people to the right financial path.

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Moving House – The True Costs of Doing it Yourself

Who should consider a DIY move?

Ideally the DIY mover should be ideally suited to the smallest moves. One bedroomed flats and apartments, bedsits, house-shares, or small office moves; these are the candidates for hiring a van and doing it themselves.

If you’re going to DIY move then be realistic. As in any move plan early, make lists, stick to them, declutter so you aren’t taking any extra items you should have thrown away, sold, or got rid of that will only take up valuable time and space in your van. Leaving anything to the last minute will only add more stress.

What are the pros and cons?

Pros

If you’re going to do the move yourself the pros for this are many but the main one should be the cost. If it isn’t cheaper to do it yourself then why are you bothering? Get some quotes for a professional company and compare them to hiring a van and doing the work yourself. If it’s not too different then consider what the extra will buy you in peace of mind, energy exerted and in having someone else do all the worrying.

It’s going to be good exercise if you need to shed a few pounds. You won’t have strangers in and out of your property handling your belongings. You get to drive the van so you’ll get to pick the route, decide whatever stops you may need to make along the way, carry out any additional pick-ups and take whatever breaks you’ll need if you’re making a long distance move.

You will also get to the load the van how you want and if you choose to have friends help you you’ll also have someone to celebrate with at the end of the day.

Cons

You’ll be exhausted. It’s tiring and hard work. It’s a lot of lifting, carrying and climbing up and down stairs. With a professional you can leave them to get on with all of that extra work, and they will be fast and efficient. If you choose your friends and family to help there’s a good chance they’ll spend just as much time poking around your things reminiscing about bygone days.

Are you comfortable driving a large vehicle around town or over long distances? Do you want to drive multiple trips and have to load and unload at each end? And if you load the van badly are you happy to pay to replace or fix anything that gets broken? Or to take somebody to hospital if a badly packed van causes an injury to someone while unloading?

It will take much longer. Professionals know what they’re doing. They know exactly which corners to cut and which not to. They will take at least half the time; maybe even less? That could actually save you money over the course of the day.

Van Hire

When hiring a van you’re going to need better than good guesswork. How big a van do you need? A smaller van will be cheaper but if you get it wrong you’ll have to make more trips. A larger van might just save you money if you get it right first time. If you obtain the services of a professional removal company such as AMC Removals, who are an Edinburgh removal company then they always recommend that you make an inventory. Estimate how many boxes those items will fill. Then work out how they can stack and how much space that they’ll take up.

You will be guaranteed to have more belongings than you think.

You’ll also want to consider mileage, fuel costs and if your drivers licence covers the size of van you’ll need.

Ford Transit

A Transit or similar size from alternate manufacturers is a very popular model for the DIY move. It will carry around 800kg of items, large enough to fit most furniture and runs at around 35mpg. You can step up a model to a long wheelbase Transit that is 3ft longer, a little taller and slightly less economical at 25/30mpg.

Luton Box Van

The box van is synonymous with removals because of its high backed, square container. The bed of the van is often 2 or 3ft off the ground so heavy items may require a lift of some sort. The vehicle hire company should be able to advise or supply you with the equipment you require.

7.5 Ton Box Wagon

This is the largest self-drive you can command on a standard licence with a C1 category (you’ll need to take a test if you didn’t receive your licence until after January 1997). It’s the largest in size and capacity, will accommodate the greatest weight and is much better suited for long distance moves than smaller vehicles. However, it’s a lot bigger than your day to day drive so keep an eye out for bridges and walls; tall vehicles have a tendency to lean so some walls or trees might be in range of contact when you think they’re not.

Additional points to note

Make sure to ask about all charges and additional costs. A fixed allowance might be as little as 50 to 150 miles, which if you’re returning the vehicle to base that may well not be enough. What will it cost for each additional mile? Most companies charge between 8p and 12p but it’s best to be sure before you sign anything.

What does the insurance cover? Is it included? Will there be an excess to pay in the case of a claim? Do they provide breakdown cover? Will it be ok to take the van abroad if you’re moving overseas? And where can you hand it in? Does it have to be at the depot where it was collected? You’ll want to consider all of this before you make your decision.

When you hire a vehicle always do a thorough check with the agent. Make sure any marks or existing damage is noted so they don’t try and pass the blame on to you on its return.

Driving

A van handles much differently to a car. It’s bigger, has reduced visibility and bigger blind spots, they’re taller, wider, clumsier and will take much longer to stop when you put the brakes on. Be vigilant for cyclists and small vehicles. There are a lot more hiding places for them to drift into.

Weather

Not to be taken for granted but if you’re moving in winter it’s going to have it’s own challenges. The cold and slippery surfaces will play their part just as the red-hot sunshine will dehydrate and tire you faster if your move is in July or August. It doesn’t seem like much to consider but if you can prepare for every eventuality then there’s one less thing to take you by surprise.

What You Need To Know About Forex Trading In 2018

Forex is a shortened way of saying Forex exchange. This refers to the act of buying or selling one country’s currency for another for different reasons including commerce, tourism or as a personal investment. Many businesses run on a global scale, as such it is important to translate with other countries using their own currency hence creating a niche for Forex trading. Countries, businesses and people from all walks of life all participate in Forex trading making it the number one traded market worldwide.

You have probably participated in this popular trade for instance when you went on vacation to another country. You probably had to exchange your currency to the currency of where you were visiting for instance US dollars for Euros. The demand on the market for certain currencies will either boost or slow down its value when compared to other currencies.

Until the internet came into the scene, Forex trading was limited to the interbanking systems trading on behalf of their clients. With time, banks set up their own proprietary desks so that they could trade using their own accounts. It was long after this that large corporations, hedge funds and high net worth people jumped on the trading Forex band wagon, and it has proven to be a great source of income. To put it in a nutshell, global market trades at about $22.4 billion per day, while the forex market trades about $5 trillion per day.

Keeping this in mind, it’s no surprise that there are a surge of individual traders looking to make a profit from trading. If you are one of those individuals who are keen on trading currencies, here are a few pros and cons on Forex trading:

Pros and Cons of Forex Trading

  • Forex trading is the biggest financial market in the globe. According to the last triennial survey of the Bank of International Settlement (BIS), the size of the forex market turnover was $5.2 trillion. This means that it can offer the most liquidity; therefore you can enter and exit within a second in any of the major global currencies.

 

  • Due to the impressive range of liquidity and the ease with which a trade can exit or enter the market, brokers and banks entice traders by offering them a large leverage. This gives traders the ability to control large positions having chipped in little money of their own. Of course in order to garner maximum benefits, traders have to understand how to use leverage cautiously and effectively and the risks imposed on the account should the leverage be misused.

 

  • Another key advantage to Forex trading is that it operates 24 hours, starting out in Australia and coming to a close in New York before the cycle starts out again. Some of the top cities to focus on in 2018 when it comes to trading include: Sydney, Hong Kong, Singapore, Tokyo, Frankfurt, Paris, London and New York.

 

How to Be a Successful Trader

Over the years, there have been reports of massive losses as a result of undisciplined and inexperienced traders who do not know how forex trading works and have ignored platforms and methodologies such as the Elliot Wave Trading Theory. Below we shall uncover the key things you need to know in order to be a successful trader in 2018 and recap big profits.

 

  • Make A Plan

To profit in trading, it’s not only important to be well versed in the trades of the market itself, but to be self aware as well. This means that you risk tolerance and capital allocation to the trading. You have to sit down and analyse your own financial goals and your account before engaging in Forex trading. Once you determine your Forex trading goals, you have to set a time frame and jot down a working plan, be it short term or long term for your trading career.

Having clear goals means asking yourself a few trivial questions such as what should be the time frame for trial and error process? How much time do you plan on devoting to Forex trading, or whether you are getting into the trade as a hobby or a means to generate technology stable income? Answering such questions will help you determine the risks vs. returns and should the risks overshadow the profits, then it might be wise to embark on another endeavour.

  • Pick A Reliable Broker Then Start Small

Prior to focusing on the intricacies of trading itself, it is important to choose a broker who is in tandem with your trading goals and is of good expertise. It is wise to enquire about the brokers’ client profile, their trading software, and even how efficient their customers’ service is. The next step is to choose an account package that suits your expertise level. As a general rule for beginners, it is best to start out with a lower leverage. This gives you the much needed grave period to learn and maybe make mistakes that are not too costly. Start small and add onto your account as it gradually generates profits.

  • Stick To A Single Currency Pair

The forex market is vast and has brought together central banks, investment banks, commercial banks, hedge funds, retail traders, technology providers, statisticians, quants, software developers, analysts, just to name a few. It is an increasing industry that supports over 20 other industries. As such it can get chaotic, and in the midst of this chaos it is hard to grasp the nitty-gritty of all the participants in the trade. As such, it’s ideal to focus on trading with one currency pair which you are familiar with and understand, preferably the currency of your own country. Alternatively you can start off with the most liquid and widely traded currency pairs that are an ideal choice.

  • Understand The Trade

Forex trading in a nutshell is about probability and risk analysis. There is no single strategy that can guarantee you profits all the time. However, proper money management can help you to maximize profits and reduce losses. It’s also important to study the every changing market both its macroeconomic and microeconomic aspects and technical factors that come into play. Most importantly don’t make decisions based on your emotions.

How to Plan a Holiday Overseas on a Budget

Everyone needs to take a break once in a while, and going on a holiday abroad is a brilliant way to get away from stressful work or just the grind of a routine. Holidays can get expensive though, so this guide is designed to help you take a break without breaking the bank.

Plan Ahead and Compare

This may sound obvious, but a large part of getting a holiday cheap is making sure you get to it ahead of time. Doing this makes it easier for you to find the right deal by comparing all the possible providers at every level of the holiday, from flights to hotels to activities.

Using comparison sites is the way to go when it comes to finding the deal you’re looking for. Starting with hotels, putting your dream hotel into sites like Trivago or TripAdvisor can save you a chunk of your budget. On top of this, contacting the hotel directly to see if they can beat the price is never a bad idea, and could get you an even bigger saving.

When it comes to flights, make sure you are using sites which give you the biggest range of comparisons. For example, if you’re looking for a flight to a popular package holiday destination make sure you’re using a site that includes charter flights on their lists, meaning you can see if there are spare seats on a package provider’s flight.

Another way to secure a cheaper flight is to fly indirectly. While waiting around for two hours in an airport halfway between your base and your destination might not sound appealing, it could significantly cut the cost of your flight.

Consider Package Holidays

While doing all of your bookings independently can save you a lot of money in some cases, it can also be a lot of work for the sake of very small savings. Depending on when and where you’re travelling, it’s a good idea to at least check the price of equivalent package holidays.

Package holidays can be especially useful when it comes to an activity-heavy holiday, as they will often cut down the overall cost of activities, even if a single activity would have been cheaper outside of the package.

Cut Out the Extras

Consider whether you actually need Priority Boarding and Seat Selection on your flight. As almost all airlines now offer allocated seating these are usually unnecessary costs which can be easily cut from your budget.

Another extra cost which can be easily cut is the cost of food (either at the airport or on the plane). This usually outrageous expense can be easily removed by taking your own packed lunch. If you do take a packed lunch, however, remember that liquids will not be allowed onto the plane, but you can get around this by taking empty bottles to fill with water in the departure lounge.

Time Your Trip Right

Obviously, a large part of working out the timing of your holiday is dependent on outside factors like fitting around work or your kids’ school terms, but it’s important to maximise deals within the range of times you have available to you.

Often, term-time holidays are much cheaper than those available during the school holidays, but school holidays might be the only time you can travel. If this is the case, booking your trip for the later end of the holiday period is usually the best idea, with the last week of August and the first week of September often much cheaper than the rest of the holidays.

Alternatively, October half-term can also be a good time to get away if your holidays are restricted by the school term, as trips then are usually in line with the rest of term time.

The time of travel on your days of departure and return can also affect the cost of flights or trains. Overnight trips can cost significantly less, so if you find it easy to fall asleep in transit you could use this to reduce cost of travel and to eliminate the cost of one night’s stay at your hotel from your budget.

Be Prepared

For your own protection, it’s always a good idea to get your travel insurance sorted as soon as possible after booking your trip. Otherwise, you could be caught out by any number of problems meaning you have to cancel and be left with no way to get your money back.

It’s also important to be prepared on the day of travel itself, particularly when it comes to weighing your bags. Make sure your bags are within the limits your airline sets on luggage, as the charges for excessive weight can be extreme.

Research Your Activities and Book Beforehand

While booking your excursions independently can seem like a lot of work compared to going with the trips organised by your hotel/campsite, it can mean a major difference in expense.

This is usually due to the fact that local public transport will be cheaper than the coaches used for organised excursions. Unfortunately, local buses rarely come with the guides provided on hotel organised coaches, but you could halve the cost of your sightseeing. You might also make savings from booking this transport far ahead of time.

You can increase the savings in most major cities through travel or sight-seeing passes. These generally get you savings as long as you make more than two or three journeys on local transport each day. In major cities this can quickly build up your savings as you cross the city to get from sight to sight.

Many of the older European cities, on the other hand, are easily walkable if you want to eliminate transport costs altogether. By researching the sights of a particular city you can often work out which ones are in the same geographical area as each other and plan your days around this.

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