Money Bulldog http://moneybulldog.co.uk Personal Finance One Bite at a Time Wed, 22 Mar 2017 11:37:18 +0000 en-US hourly 1 What to consider when deciding which property to invest in http://moneybulldog.co.uk/what-to-consider-when-deciding-which-property-to-invest-in/ http://moneybulldog.co.uk/what-to-consider-when-deciding-which-property-to-invest-in/#comments Wed, 22 Mar 2017 11:37:02 +0000 http://moneybulldog.co.uk/?p=16705 The money-savvy who want to branch out from stocks and bonds may be thinking about investing in property. A lot of people are attracted to this way of investing as they believe it involves nothing but buying a home, renovating it and quickly selling it on or renting it out for a profit but realistically,

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The money-savvy who want to branch out from stocks and bonds may be thinking about investing in property. A lot of people are attracted to this way of investing as they believe it involves nothing but buying a home, renovating it and quickly selling it on or renting it out for a profit but realistically, there is a lot more to it than just that. Factors like choosing the right property, finding the right tenants and keeping up with maintenance all take money, time and commitment. Here are a few things to consider before you dip your toe into the property investment pool.

Where do I want to invest in a property?

The first thing you need to consider once you’re set on investing in a property is where exactly to do so. It may be that you wish to invest in a property abroad to use as a second home during certain times and to rent it out to holidaymakers during the rest of the year. If this is the case, you’ll need to think about applying for a mortgage abroad and the pros and cons of this. Spreading your wings overseas can sometimes seem like a more affordable option to the UK housing market, but you need to think about your foreign property investment a lot more carefully than you would if you were staying put. The foreign property dream can quickly turn into a nightmare if you don’t consider things such as currency conversion and differences in legal issues from country to country. Whether at home or abroad, you will need to be aware of the number of listings and vacancies that are currently available near your new property. High vacancy rates can sometimes lead landlords to lower rent to gain tenants whereas low vacancy rates allow them to raise the rent. Another thing to consider regarding the area is the potential for future development that may occur there. The local planning department should be able to provide you with information on confirmed development plans for the vicinity. The construction of a new shopping centre, for example, may indicate a good area of growth, something that can only mean an opportunity for more sought after properties and thus, higher rent.

What do you want to use the property for?

Is it your intention to buy an investment property to have an available second home or do you want a property that will yield a yearly profit through renting? Deciding this before you buy will stand you in good stead for finding a property to fit the purpose. In regards to the latter, a lot of property investors tend to go for a property that they know will yield the most income from year to year. These tend to be larger properties that prospective landlords can make into a House in Multiple Occupation (HMO) whereby a number of tenants under the same roof have separate contracts. On the other hand, you should never invest in a second home and rely on it solely for most of the year to cover repayments. The market for holiday let properties is already saturated so you may not be able to maintain a consistent tenancy.

Do I have the time and commitment to invest in a property?

A lot of people underestimate exactly how much time and effort it takes to invest in a property. From start to finish, you’ll have to make sure that you are willing to dedicate a lot of your spare time into the refurbishment, maintenance and long-term upkeep of the property whether you’re renting it out to others or keeping it as a second home. Those looking to make property investment a full-time opportunity should map out a business plan and a detailed budget. A high level of organisation at the beginning of the process will help you identify both the long and short-term implications. Follow your business plan as closely as possible but always be willing to adapt if certain issues arise.

How much money will investing in a property cost?

Obviously, the amount of money you’re willing to invest differs from person to person, and those seeking larger properties or properties in a sought-after location are bound to pay a lot more. It’s not only the cost of the property and the mortgage that you need to consider, however. You will encounter a number of buying and selling costs such as estate agent and surveyor fees, stamp duty, land tax and solicitor’s fees which ultimately all add up and may see you out of pocket in the short-term. Those willing to make the investment will begin to see the fruit of their labour over the course of time, especially if they decide to rent a property in areas with a high demand for property such as Leeds and Manchester. A buy-to-let in Manchester, for example, could give you a very high rental yield, particularly because the city is currently receiving a lot of infrastructure development.

It doesn’t matter whether you decided to invest in a property in the UK or overseas, there will always be a lot of factors to take into consideration. When you find the ideal investment property, make sure to keep your expectations realistic, and your finances accounted for so that you know you’ll be covered if anything goes wrong. Sometimes waiting for a rental property to yield a profit can seem like it takes forever, but the key is to remain calm and keep your eye on the ball. Investing in property does not start with buying another home, it starts with a solid and detailed plan that you can stick to and begin to feel the benefit of your investment whether that comes in the form of money or relaxation.

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Robo Investing vs Stock Picking – Which is right for you? http://moneybulldog.co.uk/robo-investing-vs-stock-picking-which-is-right-for-you/ http://moneybulldog.co.uk/robo-investing-vs-stock-picking-which-is-right-for-you/#comments Tue, 21 Mar 2017 00:14:20 +0000 http://moneybulldog.co.uk/?p=16681 With online robo advisors now starting to gain real exposure on the UK investment scene, many people are wondering whether they would be better off investing their money with one of these investment services or should they go down the route of picking their own stocks instead? If this is a question that you are

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With online robo advisors now starting to gain real exposure on the UK investment scene, many people are wondering whether they would be better off investing their money with one of these investment services or should they go down the route of picking their own stocks instead?

If this is a question that you are asking yourself right now then here are a few questions for you to consider before deciding between automated investing or picking your own stocks.

What are your investment goals?

The first thing you need to consider when deciding between robo investing and stock picking is what you are looking to achieve from your investment journey?

Are you looking to take a few risks and possibly get in early on a killer share like an Apple, an Amazon or a Berkshire Hathaway, for example, in the hope of becoming a stock market millionaire? If so, then you are probably going to be better off doing some research on how to pick the right shares and then trading through a standard UK share dealing account or a Stocks and Shares ISA that allows you to have full control over the shares you invest in.

On the other hand, if you are investing with a goal of steady and sustainable growth, then automating your investments through a robo advisor like Nutmeg – which is the UK alternative to Betterment – might allow you to achieve this goal with less risk attached than if you were to pick your own shares with very little knowledge on how to correctly balance an investment portfolio.

Of course, we should mention here that there is a risk of losing your initial investment whichever route you choose to go down, as stock markets can rise as well as fall.

How much free time do you have?

The next thing you will want to give thought to is how much free time you have available to you? Building a portfolio which will stand the test of time and having the time available to regularly review it and make any necessary adjustments will all take up your precious time. If you don’t have much free time at your disposal, then automating your investments through a robo advisor might enable you to enjoy the potential benefits of stock market investing without having to worry about the time investment that would be needed to build and maintain your own portfolio of stocks and shares.

How much spare cash do you have to invest?

Our final point to consider involves the amount of money you have available to invest on a regular basis. Building your own portfolio of stocks and shares through an online share trading account can be fun and exciting, but it can also be quite costly. This is because each time you make a trade, you will have to pay a brokerage fee and in the UK you will also have to pay stamp duty on the value of the trade. This can mean that any gains that you make on your trades can quickly be eaten up by trading fees if you only have a small amount of money to invest each time.

If this is the case for you, then investing through a robo advisor could again make sense, as you will only be charged a small annual management fee on the value of your portfolio, rather than being charged for each individual trade.

Weighing it all up

To sum all of this up, if you are looking to make a lot of money by finding a killer share before its value skyrockets, then you would probably be better off opening a standard online share dealing account or even a Stocks and Shares ISA, specifically an ISA which will allow you to pick your own shares. You should be prepared to spend time doing plenty of research before you buy into a company, and be sure to keep an eye on your portfolio to make any needed adjustments. Don’t fall into the trap of panic buying or selling, though. You will also want to make sure that you are making big enough trades to make your investments worthwhile after trading fees have been factored in.

If, on the other hand, you are more interested in steady and long-term growth and you don’t really have the time or desire to spend hours researching companies, or if you want to invest small amounts of money but on a regular basis without trading fees eating up all of your gains, then investing through a robo advisor might well be the perfect option for you.

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The Things to Consider Before Opening a Live Trading Account http://moneybulldog.co.uk/the-things-to-consider-before-opening-a-live-trading-account/ http://moneybulldog.co.uk/the-things-to-consider-before-opening-a-live-trading-account/#comments Fri, 17 Mar 2017 13:04:15 +0000 http://moneybulldog.co.uk/?p=16669 There is no doubt about it; the forex market remains an extremely attractive proposition for individuals who wish to boost their earnings and optimise their personal finances. After all, an estimated $5.3 trillion is traded on this market every single day, while its liquidity and the derivative nature of currency means that investors can profit

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There is no doubt about it; the forex market remains an extremely attractive proposition for individuals who wish to boost their earnings and optimise their personal finances. After all, an estimated $5.3 trillion is traded on this market every single day, while its liquidity and the derivative nature of currency means that investors can profit even in a depreciating climate. 

So, if you are interested in opening a live trading account and leveraging this unique marketplace, it may be tempting to launch your new, part-time career immediately. There are several considerations to bear in mind if you are to successfully invest your capital in this market, including the following: –

1. Have You Tested Your Strategy Through a Demo Account?

While accessing an online, live trading platform enables you to capitalise in real-time trends, there are other advantages too. More specifically, most online brokerage firms also offer their clients access to demo trading accounts, which allow them to hone the test their strategies within a live, but simulated, market environment.

This serves as a steep learning curve for traders, and one that educates them on the practicalities of forex trading without requiring them to risk their hard-earned money. It is therefore wise to trade through a demo account for a period of between three to six months before making a real money commitment, as this ensures that you have bridged the often-sizeable gap between theoretical knowledge and practical experience.

2. Do You Understand the Roles of Macroeconomics and Determinism?

Even if you are equipped with knowledge and experience garnered through your demo account, there are other considerations that can help to refine your trading activity. The most prominent are macroeconomics and determinism, each of which has a fundamental role in determining how your individual trades play out.

In terms of macroeconomics, this refers to the behaviour of the aggregate economy and its impact on specific financial markets. Including metrics such as inflation, interest rates and labour market performance, the combination of these factors has a direct impact on the value of currency and how specific pairings compete on the forex market. Understanding macroeconomics and the relationship that exists between each metric can help you to optimise your trading activity, even during periods of austerity.

Determinism is another important consideration, as a deterministic mind-set allows traders to understand the underlying laws that govern change in the financial market. This negates the risk that traders will make emotive and ill-informed decisions, as they understand which trends are impactful and which can be ignored.

3. Do You Have a Diversified Trading Account?

In many ways, taking the decision to trade currency is extremely exciting and something that should deliver a thrilling learning experience. It is also a serious business, however, while the volatile and derivative-based nature of the forex market also means that it is possible to lose more than your original investment.

It is therefore wise to consider diversifying your trading activity, particularly when operating online. After all, online platforms tend to offer access to a host of fiscal markets alongside forex, meaning that it is easier than ever to invest in a diverse array of assets and optimise your returns over a sustained period of time.

This tactic, when combined with relevant risk-management measures such as installing stop-losses on your account, help to optimise your capital and achieve higher returns that meet your expectations.

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3 Things Self-Employed People Should Do Right from the Start! http://moneybulldog.co.uk/3-things-self-employed-people-should-do-right-from-the-start/ http://moneybulldog.co.uk/3-things-self-employed-people-should-do-right-from-the-start/#comments Thu, 16 Mar 2017 15:12:25 +0000 http://moneybulldog.co.uk/?p=16647 For pretty much all my working life, I’ve been self-employed and it’s fair to say I’ve learnt a lot since I first started out around 15 years ago. I’ve learned that to survive as a self-employed person, you need to have a great amount of drive, discipline and you need to be willing to take

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For pretty much all my working life, I’ve been self-employed and it’s fair to say I’ve learnt a lot since I first started out around 15 years ago. I’ve learned that to survive as a self-employed person, you need to have a great amount of drive, discipline and you need to be willing to take a few risks here and there. When I look back now, though, there are a few things that I wish I’d known when I first started out, just to make things easier and more successful from the start.

With this in mind, I want to mention 3 important things today that all newly self-employed people should have on their radar right from the very beginning, so that they can start their self-employed journey off on the right footing.

Take Your Business Finances Seriously

One of the biggest things a lot of new business owners struggle with is keeping on top of their finances. While there are lots of good entrepreneurs out there with great ideas, not all of them are great with the money side of things. One excellent way to stay on top of your business finances right from the start is to use some online accounting software to invoice clients, record your expenses and more. Using online accounts software can help you to keep a keen eye on how much you’re earning, what you’re spending and also how much you are likely to owe to the tax man at the end of the tax year. This way you can keep some money aside as you go along, to prevent you from being hit with an unexpected tax bill that you don’t really have the money for. You will also be able to see whether you are really making the kind of money you think you are, or whether – after your expenses have been considered – you need to make some adjustments to the price of your product or service to be able to make a sustainable profit. If you want to learn more about the benefits of using online accounting software then check out our Xero Review.

Think about Your Pension

One of the big downsides of self-employment is the fact that you miss out on a lot of the benefits and perks that come along with being employed. I’m specifically thinking of things like holiday pay, sick pay and most importantly, a pension plan. If you decide to go self-employed then I would recommend setting up some kind of personal pension right from the start, as the years can quickly pass by and you’ll want to avoid saving or investing too late down the line. In the UK, one good way to do this is to set up a SIPP or Self-Invested Personal Pension. A SIPP is a tax-efficient way for UK residents to save and invest for their retirement and can be extremely useful for self-employed people. The earlier you start to save, the more time your money will have to grow and the bigger your pension pot is likely to be. Taking a little time out to do some research and find the best SIPP for your needs can also be beneficial here.

Spend a Little Money on Branding and Marketing

Setting up a business is a financially difficult time for most people and it can be difficult to know how best to allocate the little money you have available. One area I would recommend spending some money on if you can would be branding and marketing. Having a professional designer take care of your business logo and then using that logo on some professional looking business stationary or a well-designed website really could make the difference between business success and failure. First impressions count, so you will want to get things right from the very start. Getting your branding right from the beginning can also save you a lot of time and money down the line, as it could help you to avoid an expensive and complex rebrand.

Getting it Right from Day One

Here we’ve mentioned just 3 important things that self-employed people should consider right from the start of their venture into self-employment. There are many other things that you need to consider before starting a business and also personality traits you need to develop, but the 3 tips we’ve discussed here should be high on your agenda.

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4 Tips to save like a Pro this year http://moneybulldog.co.uk/4-tips-to-save-like-a-pro-this-year/ http://moneybulldog.co.uk/4-tips-to-save-like-a-pro-this-year/#comments Tue, 14 Mar 2017 07:00:39 +0000 http://moneybulldog.co.uk/?p=16636 This is a guest post from Pauline of InvestmentZen.com I am sure you know the secret to a financially stable life. It’s not really a secret. Save, save and save some more. But easier said than done, right? With the average rate of saving for American households around 5%, it doesn’t seem like the majority

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This is a guest post from Pauline of InvestmentZen.com

I am sure you know the secret to a financially stable life. It’s not really a secret. Save, save and save some more. But easier said than done, right? With the average rate of saving for American households around 5%, it doesn’t seem like the majority puts that into action. So here are a few tips to help you save like a pro.

  1. Cut ruthlessly where it doesn’t matter

In order to save more money, you need to reduce your expenses. Think about it like a diet: you want to cut on the daily excess of calories, so you can enjoy a greasy burger or a decadent slice of chocolate cake once in a while. You won’t miss the extra butter on your morning toast, and you’ll enjoy the burger twice as much. It is the same when it comes to money.

Try making a list of things that really matter to you. They will be very personal, like:

  • Going out
  • Travel
  • Grooming
  • Charitable giving
  • Gourmet restaurants
  • Having a housekeeper

And so on. Sadly, on an average income, you can’t have it all. When I was working my first job, my place was small, I was cooking 99% of my food from scratch, but I had a housekeeper and travelled internationally several times a year. I didn’t mind cutting some expenses in order to afford my splurges. So start cutting the things that do not really matter, like that magazine subscription you never read. You won’t miss it, and you’ll have some extra cash.

  1. Never pay retail for things you want

Expert savers don’t like to pay full price for things. They search for coupons, pay with reward credit cards to get free miles or cashback, and don’t mind getting gently used items instead of brand new things. Again, when it comes to things you don’t care too much about, or won’t be using regularly, you can get the generic brand, or the entry level product.

It is worth spending money for quality items you will use time and time again. Why have a sticky pan if you’re going to make eggs every morning? That is frustrating and unproductive. But you can look up local ads to find garage sales or people moving out and getting rid of their stuff at a discount.

  1. Want to splurge? Hustle for it

It is easy to go to a store, buy whatever you want, and let your future self handle the credit card bill. With double digit interest, it will not only take a long time to pay off, but also cost you a lot more than it should. If you can’t afford to pay for that big ticket item, it is time to get creative, and find ways to make extra money to pay cash for it.

Yes, even a car. Work an extra hour every day for £20, and by the end of the year you will have £4,800 more. There are plenty of nice second hand cars in that price range. And finding an extra hour every day is not so hard. It could also be a whole day on Saturdays. Whatever works for you. You can be a sports coach, walk dogs in your neighbourhood, babysit kids until their parents get home, tutor in a field you master,… the possibilities are endless. Or simply work overtime at your day job.

That extra money can be your fun money, allowing you little pleasures without affecting your savings rate.

  1. Master the art of free

Many things in life can be free. If you spend a little time thinking about ways to get what you want for free, you’ll find there is often a way. I have bartered language lessons, giving French and receiving Arabic. I have swapped my house and gotten a free holiday. I have grown vegetables and herbs in my garden. And even picked up furniture and random stuff in the streets. Freecycle is a great resource to ask for free things people are getting rid of. Sure, it might not be the exact blender you were dreaming of, but if it does the job who cares? Once more, it comes down to your values and priorities in life. Would you rather work for X hours, or get that thing for free instead? I know most of the time, I pick freedom over fancy things.

  1. Know your why

Why do you want to save money? For a holiday, to afford to go back to school or stay home with the kids and live off one income? So you don’t have to be a Walmart greeter at 65? Whatever your goal, saving is much easier when you know why you do it. Keep in mind for example that every time you save $50, that is one day you can spend at home with the kids. Or that if you invest £300 a month (just £10 per day) at 8% for 30 years, you will have £452,466 in your nest egg for retirement.

Saving money is not fun per se, but the peace of mind and freedom it provides are priceless. How do you save more money?

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Effective Ways Business Owners Can Earn Extra Money http://moneybulldog.co.uk/effective-ways-business-owners-can-earn-extra-money/ http://moneybulldog.co.uk/effective-ways-business-owners-can-earn-extra-money/#comments Fri, 10 Mar 2017 12:41:13 +0000 http://moneybulldog.co.uk/?p=16626 A business needs to at least break even to stay afloat, but the main aim for any entrepreneur and business owner will always be to turn a profit. Whether you’re already running a small business or are just setting one up, you should always be on the lookout for ways to increase profits. There are

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A business needs to at least break even to stay afloat, but the main aim for any entrepreneur and business owner will always be to turn a profit. Whether you’re already running a small business or are just setting one up, you should always be on the lookout for ways to increase profits. There are various ways business owners can earn extra money alongside or through their current operations, to go on to reinvest all additional funds back into the company.

Expand into Profitable Industries

Most companies will start out with one main target market. It is important to have a clear focus but after a while, if your company finds its growth beginning to stagnate, it is worth expanding into other areas. This could be done either as a side project to test the waters, or by broadening your product/service offering.

There are many profitable industries that can be explored, such as office administration, specialised design, legal services and more. It is best to find a sector that fits in well with your current business and that you have the appropriate skills and expertise to succeed in.

Provide Sales Incentives

The majority of businesses spend a lot of time, money and effort chasing new customers, aiming to get as many clients on board as possible. A great way to earn extra money is to shift the focus from potential new customers to existing ones.

Start to offer sales incentives to current clients and spend more time marketing towards them. This will be far cheaper and a lot more efficient in the short and long term for boosting finances. Sales incentives can vary from a free trial or product, to discounts on larger orders.

Trade Online

Trading forex online is another possible way to earn extra money alongside your business ventures. All you need is the right online trading platform, to have budgeted what you’ll invest and the knowledge of the right currency pairs to begin buying and selling to hopefully make a profit.

There is an element of risk attached to trading online, but it can be worth it if things go your way. Plus, it can be kept separate from your business finances or intertwined, with any earnings made reinvested in the business.

Rent Out Space

If you own or rent an office or other commercial property, and there’s areas of it you don’t use, why not rent it out? This is an easy and incredibly cost-effective way to boost earnings without having to do a lot. Especially if you already have spare desks, computers and more, you can charge extra as well.

Host Events

Whatever industry your business works within, hosting events for others within it can be a great money spinner. Get an industry expert or two on board and you can host a talk on your own company premises, inviting others and charging for tickets. This is a simple way to make some extra money.

Decide which of these effective methods is best for you and your business and begin putting it in action to increase your finances.

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How to Sell Your Car Fast! http://moneybulldog.co.uk/how-to-sell-your-car-fast/ http://moneybulldog.co.uk/how-to-sell-your-car-fast/#comments Tue, 28 Feb 2017 14:00:18 +0000 http://moneybulldog.co.uk/?p=16210 If you want to sell your car then you might wonder whether this is going to take some time and be a real hassle. Well, the truth is that doing this doesn’t have to be as difficult as you might think. By following these easy steps you will be able to find a buyer for

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If you want to sell your car then you might wonder whether this is going to take some time and be a real hassle. Well, the truth is that doing this doesn’t have to be as difficult as you might think.

By following these easy steps you will be able to find a buyer for your vehicle quickly and painlessly.

Get It Looking Great

First impressions really count when you want to sell your car. This means that you need to get it ready to impress people, just as you would get your house looking fantastic when you put it up for sale.

You can get started by sorting out any problems that might catch someone’s eye. It is pretty easy to fix little problems such as faulty bulbs or scratches but if you leave them unattended then they could be enough to put off potential buyers.

Try and look at your vehicle from a neutral point of view and see it as others will. If you can see any defects with the car then you can be sure that other people who come to view it will also notice them.

Get the Paperwork in Order

One issue that really puts people’s minds at ease when looking for a car is when the paperwork is all in order. On the other hand, when the paperwork is missing or has some gaps then this tends to make potential buyers very nervous.

Therefore, it is a good idea to make sure that you have the paperwork all sorted out before you put your car up for sale. You can include details of services, MOTs and even smaller things like new tyre receipts.

The more details you can cover with this paperwork the better, as it will make you seem like a very thorough owner who has taken great care of the car over the years.

Let People See It Online

If you want to sell your car fast, then it definitely makes sense to use the power of the internet to find the people who are likely to be interested in buying your vehicle. After all, this is a way of letting far more people see it than you could otherwise manage.

The first step in this process is to find the right site to post it on. You will want to reach out to as many people as possible but you won’t want to run the risk of getting contacted by dodgy people who might try to scam you.

A hassle-free online option that might suit you better is to use a site like webuyanycar.com. You can sell your car quickly and easily on a site like this and you can get an instant quote to find out whether they will offer you a reasonable price for your car.

Set the Price Wisely

A common mistake made by car owners is to set the selling price too high. This could put off the people who look at it right away, especially if it is a model that is easy to find for sale.

At the opposite end of the scale, if you set the price too low then anyone who looks at the details might wonder whether there is a problem that you are hiding. Therefore, discovering what the right price is and then setting it at this figure is the smartest way to get people interested.

If you can do this then you can feel more certain that anyone looking for this type of vehicle will take an interest in your car.

Be Flexible

The more flexibility that you can offer the better. Perhaps someone wants to come and view the car at an awkward time or maybe they want to offer you a part exchange or some other sort of deal.

Even if you just want a simple and straightforward sale, you still need to take into account the wants and needs of the people that you deal with. If you are too inflexible with your approach then you run the risk of turning people away.

Try and put yourself in the shoes of the other person and work out how you can be more flexible to help them make their decision.

Make It Easy to Buy

The overall effect of sticking to the previous points should be that you make your car as easy to buy as possible. You want anyone who is interested in this vehicle to be able to purchase it without any problems.

Of course, this might mean a bit of extra work for you. However, it will be worth it when you sell your car and can move on to the next stage in your life.

Don’t let the sale of your car become a hassle when it is a simple task to make it a lot easier.

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Scottish Friendly My Select Stocks and Shares ISA Review http://moneybulldog.co.uk/scottish-friendly-my-select-stocks-and-shares-isa-review/ http://moneybulldog.co.uk/scottish-friendly-my-select-stocks-and-shares-isa-review/#comments Tue, 28 Feb 2017 13:30:03 +0000 http://moneybulldog.co.uk/?p=16218 Finding the right ISA account can go a long way towards making sure that you get the kind of solid financial future that you hope for. Regardless of how you see your life panning out from now on, investing wisely is one sure way of making life better for you and your family. In this

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Finding the right ISA account can go a long way towards making sure that you get the kind of solid financial future that you hope for. Regardless of how you see your life panning out from now on, investing wisely is one sure way of making life better for you and your family.

In this Scottish Friendly My Select ISA review, we’ll be taking a closer look at this Stocks and Shares ISA account, its features and the setup process to help you to decide if this is the right investment ISA for you.

Choose the Right Investment Level

One of the best aspects of investing in an ISA is that it gives you a flexible way of matching your investment level to your current needs and plans. You can then adjust the amount you invest over time as you see fit.

What this means in practise with the Scottish Friendly My Select ISA is that you can setup your account and start investing from as little as £10 on a monthly basis, or else get started with a lump sum of £100 or more. From this starting point you can then go up to the maximum annual ISA allowance if you want to.

The fact that your ISA is tax free means that the money you invest and your returns stay in the account and work hard for you, rather than going to the tax man.You can also have other types of ISA such as a Cash ISA at the same time, provided that you don’t go over your annual ISA allowance.

Ideally, you will let your ISA account run for at least 5 years but you can take the money out before then if you need to do so. However, by choosing the right investment level at the start and then monitoring the progress, you stand a better chance of being able to continue with the investment for as long as you want to.

What Funds Do You Invest In?

The Scottish Friendly My Select ISA is ideal for an investor who wants to take some level of control without putting all of the pressure on their shoulders.

This is because it lets you choose from a selection of funds. In this way, you get to pick the funds that you most like the look of and then leave it up to the experts to run it.

There are a good variety of funds to choose from, with the likes of a UK Government Bond Fund, UK Tracker Fund and Guaranteed Cash Fund all in there. It is certainly well worth taking a few minutes to look through the details of these funds on the Scottish Friendly website to see which one is likely to be the perfect match for your investment needs.

If you like then you can even set up different policies within your Scottish Friendly ISA and invest in more than one fund. As long as you don’t go over your annual ISA allowance, you can open as many policies as you like and split up your money across various funds in the way that you most like the look of, allowing you to save separately for say a car or your child’s university fees all within the one ISA account.

Getting Your Account Opened

Before you apply for your new ISA account it is also a good move to check out the key features as well as the page on the Scottish Friendly website that shows how your money could grow. This is a quick and easy way of seeing how you could achieve your financial goals in the timeframe that you have in mind.

Once you have done this, the next step is to set up your ISA account online. This is a painless process that is carried out over just 4 steps.

You will need your bank account details and National Insurance number in order to complete the application process. The key features page on their website should also answer just about any question that you have on the subject.

Why Choose This ISA?

There are a few reasons why you might want to invest in the Scottish Friendly My Select ISA. Of course, as with any type of ISA it is an extremely tax efficient way of investing your money month after month.

In addition, it offers a highly flexible approach If you aren’t sure how your life and finances will change in the future. This makes it ideal for someone who wants to start investing but isn’t keen on committing a set amount for a fixed period.

It is also an attractive proposition for anyone who wants to take a degree of control over their investing. Instead of just having your money lumped into a set account, you get to choose from an interesting range of different funds.

All in all, this is the sort of flexible and attractive ISA account that makes it easier to plan for a better financial future no matter what your hopes and dreams are.

Remember that the value of investments can rise as well as fall, meaning your initial capital may be at risk.

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Scottish Friendly My Select Junior ISA Review http://moneybulldog.co.uk/scottish-friendly-my-select-junior-isa-review/ http://moneybulldog.co.uk/scottish-friendly-my-select-junior-isa-review/#comments Tue, 28 Feb 2017 13:00:48 +0000 http://moneybulldog.co.uk/?p=16220 There are some fantastic Junior ISA accounts out there just now, and the Scottish Friendly My Select Junior ISA account is definitely one to bear in mind. If you have the idea of putting money aside for a youngster then is this the right choice to make? Well, this is a tax efficient savings account

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There are some fantastic Junior ISA accounts out there just now, and the Scottish Friendly My Select Junior ISA account is definitely one to bear in mind. If you have the idea of putting money aside for a youngster then is this the right choice to make?

Well, this is a tax efficient savings account that lets you invest anything from £10 each month up to the full annual ISA allowance. It is a good choice of investment plan for someone looking to give a youngster a great financial future, so what is it all about? This is what we’ll be looking at in this Scottish Friendly My Select Junior ISA review.

Varying Investment Amounts

The first thing we should mention here is that the Scottish Friendly My Select Junior ISA is a Stocks and Shares Junior ISA account. This means that any money you put into the account will be invested into the stock market through a choice of investment funds which you will select. Hence the name, ‘My Select Junior ISA’.

With any investment account for a youngster it is important to be able to vary the amount you are investing according to the changing circumstances in your life. For example, you might be happy carrying on with a small monthly amount for a long period or you might prefer to increase the payments for a special reason. This is all possible with the My Select Junior ISA account and you will feel happy knowing that you have full control and can change the amount whenever you want to. Even better is the fact that you can stop the regular payments and then start them again as you choose.

The starting investment to open a Scottish Friendly My Select Junior ISA is a minimum of £10 per month, although you can also choose to make a £50 lump sum investment instead, or even combine a lump sum with monthly payments. This lets you stay fully in control of how much you save each month or year, without feeling obliged to over-stretch financially or limit yourself to the initial amount.

Who Is It Aimed At?

If the investment levels in the Scottish Friendly My Select Junior ISA seem right for your needs, then you will want to know a bit more about who this plan is aimed at. Basically, it is for the parent or guardian of a child under the age of 18 who wants to set up an investment in the youngster’s name.

The child can then access the money once they reach the age of 18. As it is an ISA, you can be sure that it is a way of investing without having to worry about tax eating into the profits.

There are many reasons why you might want to set up a Junior ISA for your child. Perhaps you will do it with one eye on their further education or on them buying a car or property once they get a bit older.

It doesn’t matter what the reason for saving is, you can just keep on putting money into the account each year – up to your Junior ISA allowance amount – until your child is ready to spend it on what they most need after they turn 18. You can then enjoy seeing how the youngster goes about using the money to get a financial foothold in life once they become independent.

Choosing the Right Fund

A very useful aspect of this ISA is that you get to choose the perfect fund for your needs. In this way, you can find the right way to make a smart and sustainable investment that truly suits you and your child.

A list of the different funds that you can choose from is available for you to look at on the Scottish Friendly Website and includes the likes of an International Company Bond Fund, a Higher Fund and a UK Active Fund. Each has its own set of objectives and risk profiles, so you will want to spend a few minutes looking into the options before choosing.

The first decision you are likely to make is between the lower risk and return funds compared to the higher risk and return options. Once you have an idea of which type to go for, it will then be easier to choose a specific fund.

The My Select Junior ISA also gives you the option of opening up several different ‘policies’ all in the one Junior ISA account. This means that you can have different investment pots for different purposes – such as one pot for a home deposit and one to buy your child’s first car. You may, therefore, want to take more investment risk with one pot than with another.

Easy to Set Up and Maintain

Perhaps one of the reasons that not everyone sets up a savings account for their children is that they see it as being something that is difficult or time-consuming to do. The good news in this respect is that setting up a Junior ISA with Scottish Friendly couldn’t be easier.

You can very quickly apply online and set up the account. The online application form gives you a simple step by step approach that should see you set it up in next to no time.

This is certainly an easy option for anyone who is keen to help their child get started in life. It is the kind of no-fuss savings account that you can quickly set up and then watch as it builds up nicely over time.

There is no time like the present for getting started on giving a young person a future to look forward to. If you like the idea of a tax efficient savings scheme that gives you just the right degree of flexibility, then the Scottish Friendly My Select Junior ISA could well be a solid choice.

Remember that the value of investments can rise as well as fall, meaning your initial capital may be at risk.

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Shepherds Friendly Junior ISA Review http://moneybulldog.co.uk/shepherds-friendly-junior-isa-review/ http://moneybulldog.co.uk/shepherds-friendly-junior-isa-review/#comments Tue, 28 Feb 2017 13:00:39 +0000 http://moneybulldog.co.uk/?p=16216 Making the right decisions for our children’s future is one of the big issues that many of us worry about. Some smart moves right now can make life far easier for our kids once they grow up and have their own financial commitments to worry about. Bearing this in mind, it is no surprise to

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Making the right decisions for our children’s future is one of the big issues that many of us worry about. Some smart moves right now can make life far easier for our kids once they grow up and have their own financial commitments to worry about.

Bearing this in mind, it is no surprise to see that investing in a tax friendly ISA is one of the most popular ways of planning for the future. With the Shepherds Friendly Junior ISA account, you get to invest in a way that makes a lot of sense and is also easy to arrange.

The Basics

You probably already know that an ISA account is a way of getting a tax efficient savings account. In the case of this Junior ISA, it is perfect for youngsters under the age of 18 who don’t already have a Child Trust Fund set up in their name.

Whether you want to start saving for your child’s university fees or for their first home, the sooner that you get going the better. To open a Junior ISA account in their name you just need to be their parent or legal guardian.

Interestingly, contributions can then be made to this ISA by anyone. This means that both parents, grandparents and other friends or family can contribute on a regular or occasional basis if they wish to.

It is also worth noting that it is possible to switch over to this kind of account from a Child Trust Fund if you prefer to do this. Of course, the tax free nature of a Junior ISA like this makes it a very attractive way to save money month after month and year after year.

A Flexible Approach

For most parents, one of the most important issues when investing for their children is the flexibility on offer. Given the long timescales that this usually involves, there is every reason to believe that your financial position and goals could change over the years.

Thankfully, the Shepherds Friendly Junior ISA account gives you all the flexibility that you need to run this savings account in a way that suits you. You can start or stop instalments whenever you want to, as well as altering the amount as you see fit.

The plan can be opened with a £10 monthly payment or with a single deposit of £100 if that suits you better. You can then work out the best way to proceed as the months go by and the account grows.

How the Money Is Invested

So, what will happen to your child’s money once you put it into the ISA over time? As this is likely to be part of a long-term investment strategy, you will want to see it grow in the most sensible and impressive way over time.

The good news in this respect is that the primary investment strategy here is in stocks and shares, where higher levels of growth can typically be achieved. This means that you give the money every possible chance of growing in the way that you would like to see it grow.

Naturally, the effectiveness of the investment is going to come down to the quality of the decisions that are made on it. For this reason, the investing is done through an experienced fund manager, so that you don’t need to worry about studying the markets every month.

Another advantage of the Shepherds Friendly Junior ISA is that your money is invested sensibly and in a way that will attempt to mitigate the risk of stock market volatility. This is great news for parents who are worried about the dangers of seeing their child’s nest egg wiped out due to bad market conditions.

Of course, it is good to remember that this is still an investment account and not a savings account, so the value of your investment could rise as well as fall and your capital could be at risk.

A Gift to Get Started

Obviously there are some powerful reasons for opting for a Shepherds Friendly Junior ISA account in what we have looked at so far. However, what if you need some sort of extra incentive in order to make the final decision?

Well, in that case you will be delighted to see that there is currently an excellent offer to get you started on this savings method. Once you set up the account online and get the first instalment paid then you are rewarded with a Love2Shop voucher code for up to £50 that can redeemed in any one of hundreds of different retailers.

Getting Started

There is no need to think that you need to be an internet expert to open up a Junior ISA online with Shepherds Friendly. Indeed, you can very quickly get started on their site and have the account up and running in no time.

Choosing how to invest money for a youngster is a big decision, so take the time to look at the Shepherds Friendly Junior ISA to see how it could help you build a great future for your child.

Remember that the value of investments can rise as well as fall, meaning your initial capital may be at risk.

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