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Learning About Money – Must-Read Financial Advice For Students

Whether you’re already a college student or preparing to begin your freshman year later in 2018 doesn’t matter. Taking responsibility in all aspects of your life is essential, not least when it comes to your finances.

Ignoring the need for stability will lead to repercussions that could harm your studies, happiness, and future. Use these five simple tips to stay in control, and you should be just fine.

Earn While You Learn

Regardless of which type of job you want, college is the ideal gateway. However, education alone only ticks some of the boxes. To truly prepare yourself for life in your desired industry, work experience is vital. Paid internships are the perfect way to develop new skills, gain insight that could aid your studies, and meet new contacts. The fact that you’ll be removing some of the financial pressures in the process is simply a bonus. Above all else, this background in the industry will serve you well when seeking future graduate roles.

Build Extra Income Streams

In addition to an internship or paid role elsewhere, you should aim to increase your earnings through alternative methods. Every dollar helps, especially when the efforts won’t impact your studies. Becoming an investor or trader can be a particularly useful solution, although you must accept the potential risks too. Meanwhile, completing surveys or playing esports can help you earn money in a more recreational manner. The options are plentiful, which is why there is no excuse for missing out.

Borrow Wisely

Unless you are lucky enough to secure a scholarship, college tuition fees will hit you hard. For most, borrowing money via a loan is the only viable solution. If you are going to take this route, however, it’s vital that you use a lender that understands the student situation. This Lendkey review shows the importance of choosing a suitable lender while pinpointing the key factors that you’ll need to get right. Aside from the financial rewards of making the right selection, the emotional reassurance can make a world of difference. If nothing else, you’ll be ready to concentrate on your studies.

Spend Money Efficiently 

Accessing funds is great, but it’s important to remember that your finances are far from unlimited. Aside from tuition fees, there are various living costs to consider. Saving money on daily overheads will make a world of difference to your situation. From using coupons with Couponmom to buying used books from past graduates, those savings are key. Meanwhile, it’s always worth asking stores whether they offer staff discounts. When combined with improved lifestyle habits, like trading takeout foods for pre-packed lunches, you will see an impact.

Build Your Credit Score

Budgeting is a vital element for all students, especially with regards to social events and luxury items. Nonetheless, you will find yourself using credit options for some purchases and services. Therefore, finding ways to build your credit score as a student can be the key to seeking better deals. This will follow you into grad life too, which could be crucial in the first year or two of being a fully independent worker. Just remember to avoid bad credit, and dangerous items like store cards, and you should be fine.

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The Freedom to Use Your Money How You See Fit

Everyone’s heard of the term “financial freedom” but we seldom think about what it actually implies. In most cases, financial freedom is simply just the ability to use your money how you see fit, but it actually carries far more meaning and weight than just being able to use your money at will.

The truth is, financial freedom is personal to everyone. It has a different meaning depending on who you ask and it’s something that you need to define yourself. To help you define it, we’re going to talk about a scale of financial freedom so you know what to aim for and how.

  1. Not having any freedom at all 

The very first stage we’ll be talking about is the zero freedom stage. This is where you’ll be receiving a monthly or weekly salary and most of your money will be going into things like your mortgage, bills and groceries. Although your job is reliable, you seldom have any spare money to spend on things that you consider luxurious. This could be a night out, a holiday or even just some nice food at the end of the week. The one thing that defines this stage is your reliance on your job. Should you lose your job, you’re going to be in a financial crisis and your savings are going to be gone within a month or two. This is the stage that everyone will likely have been in at some stage of their life and it’s the stage they want to escape the most.

  1. Temporary freedom offered by sources of income 

At this stage, you’ll have more than a single source of income and this often means you have a lot of disposable money that you can use how you want. However, if you were to lose one of these sources of income, then you’ll revert back to not having any financial freedom at all. This is the stage that you want to start using your income in order to clear up as much of your debt as possible. With the help of services like debtconsolidation.loans, this is more than possible. Your goal here should be to continue working for as long as possible so you can pay off things like your mortgage and other money you might owe. You should also be using this extra income for things like purchasing necessities like a car. Your alternate source of income will usually be obtained from a side business, a second job or even a trading career.

  1. Full financial freedom 

Once you reach a stage where you have multiple income streams and you’ve paid off all of your existing debts and have plenty of future investments lined up, you can consider yourself as having financial freedom. Articles such as this one from thebalance.com offer some brilliant examples of how you can approach having multiple streams of income in order to achieve this level of financial freedom. It’s good to note that if you lose too many streams of income, you’ll still have relatively safe levels of financial freedom because your debts and mortgage will have already been paid off, and you should have a considerable amount of savings stored away in investments or a savings account.

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Saving Money: Why Moving A Parent Into Your Home Isn’t Such A Bad Idea

Do you remember your old family home? The days spent together watching crummy Saturday night TV, many a Christmas morning spent ripping open presents and the family dinners around the large dining room table. The bricks and mortar where you grew up and spent your youth will always evoke the happiest of memories as you reminisce about the past. However, as you venture further into adulthood, you are only too aware that the twilight years are catching up with your parents. Now you have children yourself, you understand the importance of memory making and providing the best home life for your little ones.

While it may seem like an idea that could disrupt the dynamic of family life, there are some clear advantages to moving an elderly parent into your humble abode. Take a look why this might be worth considering.

Finances

Having grandma sell her home to move in with you can revolutionize the family finances. Grandma can contribute to the running of the household including bills, the food shop, and fuel costs. Having sold her home, she will have a tidy nest egg in the bank should her needs warrant extra specialist care that you cannot provide. The great aspect of having an older relative living with you is the rich experience they can provide for your kids. Yes, you can save money on childminding costs, but they can also tell the most wonderful stories and engage your kids with history and the past.

Care

There often comes a point in your life when you will have to decide where your parent should live. Should they come and live with you or should you locate a care home for them to reside? If they remain within your four walls, you will have to balance the pros and cons of having another body within the home. Do you have enough space? Can you ensure that they get the care they need? If the answer to these questions is ‘yes’, then you may find that you can generate a new and better family dynamic within the home.

You may have concerns about physical abuse in a nursing home which may lead you to feeling wary about suggesting such a place to your mom or dad. However, with careful vetting and visits to any potential nursing home, you should get a feel for the ethos and atmosphere of the place. It’s vital that your parent is comfortable should they be moving to a residence away from their closest family. If they need round the clock medical care, you may not be able to provide it.

Pooling Resources

If your current dwelling isn’t older person friendly or you are struggling to find extra space, you may want to consider pooling resources. If your mom or dad has sold their humble abode, you could do the same. Then, by putting your nest eggs together, you may be able to find a bigger and more suitable property that fits the requirements for the entire family. This might mean living in a better area, having some more outside space and even having a separate annexe for your elderly relative so they can still maintain some of their independence.

Family Dynamics

Having someone else living with you, even if they are a parent that you love unconditionally, can take some getting used to. You will inevitably have rules within your house that need to be heeded. Smoking, drinking and noise levels need to be considered by everyone living within your four walls. A grandparent may naturally dote on their grandchildren, but this doesn’t mean spoiling them or pandering to their every want. You will need to make this clear to your mom or dad before you end up with a nightmare family dynamic.

It’s vital that your parent maintains their social circle and is able to keep in contact with their friends. Even if you live miles away, you need to make the effort to accommodate their social and emotional needs. At the same time, they will also need to give you space if you are hosting a function, soiree or dinner party. The give and take in these situations must go both ways.

Initially, the idea of having an elderly parent move in with you could be motivated by finances. However, other social, emotional and physical aspects need to be considered for the set up to be worthwhile. Fundamentally, everyone needs to benefit from this move, and it’s up to you and your family to weight up the advantages and disadvantages for all involved.

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How To Be Better with Money and Turn your Life Around

There is more to money than just trying to make it through the month. Most people find it difficult to budget properly and this causes them real problems, especially when payday is just around the corner. If you want to put an end to this and all while having good financial skills then don’t just sit back and let the same thing happen every single month. Get up and make a difference, it could change your life!

Always Think and Be Aware of Your Finances

You may find that you face situations every single day that call for you to spend money. This could be buying a coffee or it could even be having a bet with a friend. It’s important that you don’t just assume that you can afford something. You need to know that you can afford it and that you have not already got those funds wrapped up in something else. It may seem like a pain to check your budget every single time you want to buy something, but there are actually plenty of money-saving apps out there that can help you to do this and you don’t even need to spend a long time sorting it all out either. It’s important to know that just because you have money now, that doesn’t mean that you can spend it.

Budget Properly and Stick To It

A lot of people don’t budget because they can’t face the thought of going through their finances every single month. If you aren’t good with money however, then it is more important than ever for you to budget and you really do have to make sure that you do everything you can to stick to it as well. Update your budget as you pay off any bills and give yourself a budget when it comes to your unbudgeted spending. A lot of people think that if they have a budget, they can use whatever is left after their bills for their own spending.  This should not be the case at all, and if you have any money left over you should set yourself a set amount for unbudgeted spending. The rest can then go into an emergency fund, so you don’t find yourself short at the end of the month.

Limit your Credit Card Usage

When you are low on money, you may find it tempting to go and look into personal loans online and even credit cards. This is a great way for you to pay off any high-interest cards and it is also a great way for you to get things back on track with your payments, as long as the interest rates are lower than what you’re paying right now.

There are plenty of ways for you to get your finances back on track, and if you go to the right loan provider or sign up for the right credit card then this can really help you to get things back to how they were. The main thing that you have to take note of here is that if you can’t make the payments, you may find yourself in an even worse situation, so be smart and don’t let your credit card balance get too high without paying it off.

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Get Out Of The House: Tips For Expanding Your Home Business

New technology has changed the way that people do business and it’s easier than ever for anybody to start their own business from home with relatively little investment. As long as you can afford to manufacture products, there are plenty of great online platforms where you can sell them, but it comes with limitations. There is only so far you can go when you’re running your business from home and there comes a point when you simply can’t expand anymore. When you hit that point, you need to move the business outside of the home. Expanding a business can be tricky and if you aren’t careful, all of your hard work will be for nothing. To make sure that you maintain your success, here are some tips for moving your business outside of the home.

Funding 

Funding is going to be your biggest challenge because, while your running costs were relatively low when you were operating out of your house, you’re suddenly going to be spending a lot more once you expand. You have to pay for more employees, an office to house them and more expensive marketing campaigns. Finding that extra money means that you’ll probably have to borrow from investors, but there are other ways. If you’ve been running an online business, you’re probably already using Paypal to take online payments but did you know they also offer help to small businesses? The paypal.com working capital scheme offers financial help, as well as advice, to help small businesses get off the ground. They’re particularly good if you don’t have a great financial history because they don’t perform credit checks. They also offer a quick turnaround so you won’t be waiting ages for the money.

Consider New Products

When you were selling on a small scale, one or two products is fine. But once you start to expand, customers will expect more variety. It’s a good way to reach more customers as well as inspire repeat business from your existing customer base. When you’re trying to come up with new product ideas, you need to identify what the major selling point of your existing product is, then use that in other similar products.

Hire A Marketing Professional

Expanding outside the home and establishing yourself as a larger company means you’ll be facing more competition. It’s easy to compete on a small scale by using social media marketing alone if you’re just selling a few things on the side, but you’re in a different league now. If you want to compete with larger companies, you need a more coherent, professional marketing strategy and you’ll need somebody with experience to implement it for you. Hiring a seasoned marketing executive is vital if you’re going to make the jump from home business to big company.

The main thing to remember when you’re trying to move your business out of the home is that it’s a completely different game. All of the cheap marketing solutions and limited product lines are fine for a small side business, but if you want to take it full time, you need to start thinking bigger.

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Smart and Surprising Ways to Save More Money

From new clothes and vacations to birthday celebrations, it seems like there are almost endless opportunities to spend money, and too few to save. However, that isn’t really the case, and you can save more money than you spend if you get your priorities straight and you do some of the following smart and surprising things to save you more money…

Get an App

Sometimes, saving more money can be as simple as downloading an app. Mint, for example, is an excellent app which allows you to keep track of your spending, savings and even investments, so you know where you’re at and what you can do to save more. It is also really good at helping you to stay on budget.

Fix Your Credit Score

Why should you fix your credit score? Because the higher your score is, the easier it will be for you to access lower interest home and car loans, for example. If you need to access these sources of ‘good debt’ then you’ll benefit from a good score.

How can I fix my credit? You can do numerous things from settling old debts to paying all of your credit cards, loans and bills on time. It really depends on what your current situation is, but make sure you do what needs to be done because it can be of huge benefit to your life.

Buy Produce in Season

Want to save money on your groceries? You can save a surprising amount of money by simply buying fruits and vegetables when they are in season. Because they are more plentiful, they tend to be cheaper and have a longer shelf life than out of season foods, which means you can save money on two fronts.

Take Out a Loan

How does taking out a loan save you money? When it’s a debt consolidation loan to clear your debts and lower the amount of interest you have to pay annually. If you have various debts, it is definitely worth looking into such a loan because not only can it save you money, but it can make managing your finances a whole lot easier too.

Be a Little Risky

I know a lot of people are hesitant to risk any of the money they have earned, but really investing in stocks, shares, commodities or even real estate is a pretty smart way to save more money, not least because, if you play it smart it will increase your capital by a little, or hopefully a lot.If you don’t know where to start with investing, ask a financial adviser to help you out. If you tell them you’re pretty risk-averse, they won’t advise you to do anything too scary.

Switch to Streaming

A lot of people are surprised when they hear that they can get a number of streaming accounts, including Netflix, Hulu and Amazon Video for a fraction of the cost of cable, making it a smart and surprising way to save more money. It’s also one that doesn’t see you losing out on anything.

What are your top tips for saving more money?

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The Guide To A Cost-Effective House Move

Moving house is a costly affair, and you likely don’t need to be told that if you’ve already given it some thought or done research into the matter. Of course, if you have to leave your current home for whatever reason then you probably feel backed into a corner. There’s no way to avoid spending a fortune on moving house, right? Well, not necessarily. Yes, it’s going to cost you money, no matter what you do, but there are ways to ease the financial burden. Here’s the guide to a more cost-effective house move.

Upsell your current home.

The best way to make your house move as cost-effective as possible is to build up as many funds as possible towards the process. And seeing as you’ll be moving from one home to another, the most valuable asset you’ll have to sell is your old home. You should be aiming to make as much money as possible from the sale of your current house so as to increase your “house move fund”. Get into the mindset of a property developer, and think of ways to increase the value of your current home. You could move your belongings to storage before you move so that you can give your house a minimalistic design. If you remove signs that the property has been “lived in” then buyers are more likely to see themselves living there. Spaciousness and minimalism are timeless and effective design features.

Sift through your belongings.

The best way to have a cost-effect house move is to sift through your belongings so as to cut down the number of things you’ll be bringing with you. You’ve probably built up a cluttered collection of personal possessions over the years, but do you really want to keep all of these things? Dragging your clutter to your new home isn’t a good way to start. You should look through your belongings and throw out anything you don’t want or need anymore. If you sell anything of value then you can raise money that could go towards easing the cost of the rest of the house move.

Additionally, decluttering your house will make moving easier. That way, when you look into movers to help you transport your belongings, it’ll be a simpler and more cost-effective process (quotes are based on how many things need to be moved). This explains the process of hiring a particular moving company. You’ll most likely need help from professionals because you don’t want to damage or lose any of your possessions whilst moving to your new home. Whatever your situation, the fewer things you own, the less stressful the whole process will be.

Cut ties with providers before you move.

Obviously, you can’t give up electricity or water before you’ve moved house because those are essentials. However, you should aim to cancel the service for your landline, WiFi, or cable a couple of weeks prior to moving because it takes a while for such services to cancel. You don’t want to waste money by paying certain bills for a couple more weeks when you’re no longer living in the old house. Anything you can live without (say goodbye to YouTube for two weeks) should be canceled. You might not save a lot of money, but it’s something.

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Debt Management — There Is Help out There in Regards to It

Debt management is pivotal for those that do in fact suffer with debt, there are no doubts about that. But, there is no doubt that there is help out there in regards to debt management, too. To see where some of this help comes from, make sure to read on.

Debt management companies

Of course, the first and best help to turn to when it comes to debt management are professional debt management companies. What such a company would offer you is professional and educated advice on the matter of drawing up a debt management plan that will help you to clean yourself of the debts that you are currently saddled with. This plan could mean you paying back a small sum of the debts you owe each month, or a big sum. It could mean paying back the same amount of money each month, or varying sums. Or it could mean anything else at all. The point is, when you work alongside a debt management company when drawing up the plan, you will be able to be sure that you will be choosing the right options and taking the right paths in your quest to live a debt-free life.

Debt consolidation companies

Debt consolidation is the act of bundling all of your debts together and into one basket and then paying them off in one lump sum, and it is an action that you are recommended to take. It is recommended that you take such an action because it will make it far easier for you to keep a track of your debt expenditure and ultimately pay off all of your debts in the safest way possible due to the fact that different bills won’t be going out at different times of the month. So, get in touch with a debt consolidation company today, pay all of your bills out tomorrow, and have the rest of the month to sort your debts out without interruption!

The government

Your government, no matter what you may think about it (particularly those that govern it) will always be able to help you fight any financial fiascos that you face in life. And, the one way in which it will be able to do so in regards to any debts that you are saddled with is the way it will be able to offer you debt relief grants. What such a grant would do is provide you with the upfront cost required to acquire professional debt relief assistance, meaning you would not have to fork up the money for it yourself. And, once paid for, the assistance you would receive in relation to debt relief would see you well on your way to beating your debts. So, your government isn’t all that bad!

If you want to protect your financial future then you should be doing all you can today to manage your debts in order to, someday soon, beat them once and for all.

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Supply & Demand: Making Money From People’s Needs

Being able to give your customers what they want is the only way you’ll be able to make money as a business. People won’t want to spend money with businesses which don’t supply the right items or provide the correct services, and this can have a real impact if it goes ignored. Giving people the things they want is just the start, though, and this post is going to be showing you how to find products which people also need.

The Benefits: With the way that modern trends move and flow, it’s very easy to fall into the trap of having no one to sell your products to if you use the wrong one at the start. When you choose an idea which is based on products or services which will always be in demand, you will take away this issue, giving yourself a lot of security going into the future. Along with giving security, this sort of approach can often make it easier to grow your company within the first few years of opening. 

How To Do It: Finding an idea which won’t let you down will take a lot of research, time, and dedication. To help you out with this part of the job, you can find some examples of fields which aren’t going to be becoming unpopular anytime soon. With these in mind, you should be able to start thinking more specifically about the exact roles your outfit could perform. 

  • Commodity Trading: Metals, foods, livestock, and other important resources will always be a great way to invest your money. Commodities are primary resources which can be traded freely between private individuals. With the help of an online service or two, you should be able to learn enough to get started in this field. Of course, though, it’s worth being careful when you’re first getting started. 
  • Computing: Inside the pockets of almost everyone in the modern world, you’ll find at least one computer. Whether it’s a phone, a laptop, or another device, these sorts of machines are becoming essential to modern society. With this change, this industry is becoming bigger than ever before, making it perfect for those looking for a way to break into something which is unlikely to die down in the future. 
  • The Medical Field: Finally, as the last area to consider, people will always care about their health, and this makes medicine an incredibly lucrative market to get into. Becoming a doctor will take many years, and a lot of people won’t want to wait that long. A pharmaceutical company, though, will only need a bit of investment to get the ball rolling. Like investments, it’s always worth doing plenty of research before you get into something like this.

Hopefully, this post will inspire you to start working on ways to take advantage of people’s needs, using it as a way to keep your business secure. With the world of business being so dynamic, it can be hard to know which companies will be around from one day to the next. Of course, though, this doesn’t mean that you have to accept risk for your own venture.

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4 Things You Need to Know About Penny Stocks

Penny stocks may seem alluring, and you’ve likely heard a lot about them and the profit potential they have. But there are a few things you need to know about penny stocks before you go all-in. Here are four quick facts about penny stocks that most investors wish they knew about earlier.

Get the Low-Down on Penny Stocks First

Becoming  knowledgeable when it comes to penny stocks is your best defense against all the pitfalls out there. Use this Penny Stocks Guide to get a quick debriefing  and you’ll be surprised at what you can learn from just a few minutes of your time.

#1: Penny Stock Scams Exist

One thing to know is that there are plenty of penny stocks scams to watch out for. The old adage that “if something sounds too good to be true it probably is” is applicable here. Be leery of claims made of instant riches without an acknowledgment of a possible loss of capital.

Also, watch out for companies that promise to hold your hand through the entire process or that offer a copy and paste system for success. They often prey on newcomers and try to make everything sound super simple. But you will need to use some of your own brainpower if you want to see lasting success.

#2: You Can Lose Large Sums of Money

When people think of penny stocks they usually assume that because the start cost so little pressure it is hard to lose lots of money. They only focus on the upside, and don’t consider the bad things that could happen with their money. Since it is possible to make large amounts of money in just one day, the possibility also exists of losing large amounts of money in just one day.

#3: You’ll Likely Be In The Dark

The kind of companies you find being traded as penny stocks will generally be ones that you’ve never heard of. You’ll have to be comfortable with not knowing as much about these companies as you would a blue chip stock traded on larger exchanges. You’ll also have to take the information they do provide with a grain of salt, because there will often be no way to fact-check what is being stated.

#4: The Companies Will Probably Be Volatile

One other aspect of penny stock companies is their volatility, with game-changing information coming out regularly. This is exactly what makes penny stocks so intriguing. In just one day a stock can go from zero to hero or vice versa and fortunes can be won and lost in a snap.

Getting comfortable with the zaniness of the penny stock world and learning to embrace it rather than worry about it is part of the fun and can be the difference between success and failure.

Don’t Fear Penny Stocks

Even though there are a few caveats to be aware of before making your first penny stock trade, there’s nothing to fear when you have the right training and know-how. Beefing up your knowledge of the market is one way to allay any fears you have and venture into a new way of trading.