3 Easy Financial Changes For 2021

3 Easy Financial Changes For 2021

Last year was a difficult one for so many people. With 2020 now behind you, look to 2021 for all of the possibilities that a new year holds. Throw out old and bad financial habits and start fresh with inspirational and easy new ones. Sometimes, all it takes are minor lifestyle adjustments to create meaningful change for your financial future.

1.  Gifting

Gifting may seem an odd place to start readjusting your finances; however, with the holiday season occurring only just a short time ago, now really is the best time to look into this topic. You may have just received your credit card statement for all of those wonderful gifts, or it may be on its way. Regardless, a restructuring of future expectations may be in order. This is a good time to be open and honest with family members who are in a similar financial situation as you. Try gently broaching the subject of spending less on each other next year or drawing names instead of giving gifts to each person. A fun idea is to make a creative rule that gifts can only be handmade (with budget limits for supplies) for the upcoming year and that includes all holidays throughout 2021. 

2.  Free Resources

A good way to get a handle on your finances is to look for free items within your community. Check out your local library for a wealth of offerings. Libraries offer everything from the requisite books to movies and e-learning opportunities. If you’d like to learn another language, first look at your library’s website to see if they have any free programs. Some even offer tool and seed exchanges, in addition to craft and game nights. If your wifi is out or you need a printer, visit your library for that, as well.

3.  Saving Challenges

Even if you don’t have a savings account, it’s never too late to open one up. Start small and slowly build your dollar amount. Choose one with the highest annual rate of return that you can find so that your money makes money for you. Start with one dollar per day and continue with that amount until you can add more. You’ll build a monetary safety net for when the inevitable occurs. When it does, know that you have money to spare and then begin building it right back up again. Use an online calculator to determine how much you can save, depending upon your bank’s interest rates.

If the previously mentioned credit card statement has arrived and you’re finding it difficult or impossible to make a payment, consider a loan at paydayloanspro.com/. This is an alternate resource if you find yourself pinched into an unfortunate situation such as between buying groceries…or not buying them at all. Always read the fine print on everything before signing anything so that you know what you’re getting into. Make sure you keep track of what you owe and when it’s due so that you do not accrue any unnecessary fees. After all, your money is valuable.

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– a contributed post

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Debt And You: How To Manage

Debt And You: How To Manage

Debt is hard. It can feel like you’re drowning. It makes everything harder, like there’s an extra layer of pressure to wade through. The festive period is harder too, because it means there’s a bit more pressure on money and buying presents for loved ones will be a lot more difficult. However, there’s always light at the end of the tunnel. Debt has been around since ancient times and it’s been successfully negotiated by millions of people. Here are some tips and thought processes to help guide you through the debt.

1.  Assess Your Situation

Why are you in debt? Assess the situation first to ensure you’ve got everything laid out on the table. Once you’re there, you can come up with a plan around where to go. For example, if you’re in debt because you’re not working due to an injury, you could learn more about personal injury lawyers. If you’re in debt because of tonnes of interest, you need to target that slug of debt first. Knowing where you are is the first step towards freedom. If you don’t know what you owe and who you owe it to, you can’t come up with a payment plan.

 

2.  Change Your Mentality

A lot of people in debt will put themselves in a corner, almost ostracizing themselves from society. The truth is, most people are in swathes of debt. Hundreds of thousands. This is by virtue of the mortgage. Debt is natural. It’s something that almost everyone has in some form or another, you’re no different. Once you’ve gotten your head around the fact that debt is natural, it makes it all a lot easier to cope with. Even if you’ve made some huge mistakes, there will be a way out.

3.  Try This Plan

One of the more celebrated debt plans involves the snowflake method. You highlight a particular slug of debt which has the most interest, and work on paying that off. For everything else you simply make the minimum payments. Once that bit of debt is cleared, you move onto the debt with the next highest interest rate. Each time you move, you pay more off because the minimum payments add up. The method works because you’re paying off the debt with the higher interest instead of trying to pay all of the debt off at once which just means more interest in the long term. If you’re swamped and the debt is untenable, you consider consolidating and even a debt right off, bearing in mind this will slam your credit report for the foreseeable future.

4.  Think In Opposites

A lot of people think about cutting back to save money so that they can pay debt off. A fair plan and one which works for millions. But you can make more money to pay the debt off too, if you have some spare time. There are many ways to achieve this. Think about selling on Amazon, or perhaps you can do a bit of overtime at your current workplace. If you don’t work, think about your skill set and how you can make some money from it. Even a small amount can make a huge difference.

best,

– a contributed post

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Everything You Need To Know About Lawsuits

Everything You Need To Know About Lawsuits

Whether you have been involved in an accident at work or received improper care from a medical professional, filing a lawsuit can be both confusing and overwhelming, particularly if you have never done so before. In addition, it is likely that you will also be feeling some residual guilt over the idea of suing someone in the first place, especially if you know them personally or are aware of their personal situation. However, it is important to remember that you receive compensation for any harm that has been caused to you, both physical and financial and therefore you should not feel bad.

In addition, many people are put off by the idea of filing a lawsuit as they simply don’t understand what it entails, meaning that they don’t receive compensation for injuries or injustices that have occurred. 

With that in mind, here are some things to consider before filing a lawsuit that help make the process a little easier to understand.

1.  Filing A Lawsuit Does Not Mean You Will Go To A Courtroom

Whenever we see lawsuits on film or television, they culminate in a tense and emotionally fraught confrontation in front of a judge. As a result, many people feel as though they do not want to submit a lawsuit as they do not want to attend a court hearing. However, in real life, this is rarely the case. In fact, 90 percent of laws suits end in pre-trial, during the mediation. Mediation is a process where an impartial third party reviews all of the information and helps the parties settle their argument- and most people are able to reach a mutually beneficial agreement during this time.

 

2.  There Are Multiple Different Kinds Of Lawsuits

As no claim is exactly the same, there are multiple different kinds of lawsuits. These include: 

  • Employment lawsuits (When an employee sues an employer, this can be due to unfair working practices, unsafe conditions, or unlawful termination).
  • Insurance lawsuits (These are often claimed after car accidents or similar occurrences)
  • Small claims lawsuits (When you are owed money for goods/services that you did not receive)
  • Breach of contract lawsuit.
  • Personal injury lawsuit

3.  Ensure You Have A Good Case Beforehand

It is important that the argument you make is valid and can be proven. Therefore, you have to have sufficient evidence to back up your claim, otherwise, it can be disputed and you may not receive any compensation at all, and it could result in costing you financially.

4.  Hiring A Lawyer Will Save You Valuable Time

A lawyer is there to support you throughout the process, and can often take on a lot of the hard work on your behalf, meaning that you don’t have to deal with confusing paperwork or any other preparations. As a result, they can save you valuable time. In addition, they are also highly experienced in their field and as a result, can explain to you what is happening and why it’s happening, providing you with valuable insight into your case.

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– a contributed post

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How To Manage Your Money Better In 2020

How To Manage Your Money Better In 2020

Whether you are a serial shopper or a smart spender, we can all benefit from finding better ways to manage our money, especially during 2020 – a time of great financial uncertainty.

This could mean following a tighter budget, focusing on building up your savings or turning down a meal from your favorite takeaway. In fact, there are plenty of small changes you can make that will allow you to keep control over your finances, saving you money in the long run.

With that in mind, here are some money managing tips and tricks to see you through the rest of 2020!

1.  Download A Spending Tracker App On Your Phone

Sometimes, we spend money without even realizing it, or without considering how much each ‘little’ spend will add up at the end of the week or month. For example, the average American drinks 2.7 cups of coffee each day. If you buy a takeaway coffee every day, the amount you are spending will quickly add up. 

Keeping track of your spendings via a handy app is a great way of remaining within budget, whilst also giving you insight into your spending habits (and what you might need to cut back on). If you find out you turn down your daily Starbucks, why not recreate your favorite Starbucks drinks at home? The more aware you are of your spending habits, the better control you will have over your bank account. You can use this knowledge in your favor, especially when you find ways to live frugally.

2.  Consider Opening A Savings Account

If you have some money to spare, or you feel like investing in your future – a savings account is a great way to get started and can help you learn a little extra money without a second thought. There are plenty of banks, online and in person, where you can open a savings account – with many offering competitive interest rates. You can also use an online savings calculator to determine how much interest you can earn from a single deposit – this is a great way to figure out just how much you can save/earn!

3.  Pick Up A Side Hustle

Whether lockdown has encouraged you to become an online shopping addict, or you’d like a bit of extra cash to see you through to the end of the month, a side hustle can be a great way to earn a little extra cash on the side. The trick to earning money through a side hustle is through focusing on something you are passionate about or interested in, as you will naturally work harder at this to achieve success.  For example, if you have an artistic streak, why not sell graphics and prints on sites such as Etsy? Or, if you have a passion for the written word, why not start your own blog? Writing a blog can be a great way to build a following and earn some supplementary income. Even better, you can use your knowledge and experiences to help others!

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– a contributed post

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5 Ways to Avoid Going Back into Debt

5 Ways to Avoid Going Back into Debt

Finally clearing your debt is one of the best feelings in the world. The last thing you want to do is get snowed under again. If you’re worried you might fall back into the same old habits, then there are a few simple things you can do to avoid going back into debt. It might be time to reevaluate your income and outgoings, put away some emergency funds, and get professional support. Here are five ways to avoid going back into debt.

Get Rid Of Unnecessary Credit Cards

Credit card debt affects a large percentage of society. The problem is you’re essentially spending money you don’t have. If you have credit cards you don’t use, perhaps it’s time to get rid of them. If you have credit card debt still piling up, you could try looking into Debt to Success System (DTSS). Is DTSS legit? I believe so. It’s known to be one of the best ways of getting out of debt, so you’ll never have to worry about it again. 

Have A Spend Free Weekend

One simple way to get out of debt is to simply spend less. This might not be as it sounds, however. Look for free or cheap activities you can do in your spare time, instead of spending money. These could involve eating and drinking at home with friends rather than out or take a weekend off to do free activities or even chores. The money you save from a spend-free weekend you can put back into your budget for the following week. That way, you’ll start to get used to spending less and get satisfaction from it.

Reevaluate Your Budget

If you’re just finding it too hard to stick to, then it might be time to reevaluate your budget. You must have been doing something right if you’ve managed to get out of debt once before. Look into where you cut corners before when you were paying off your debt, and find out where you’ve started spending again. To help you, here are some of the best budgeting apps in 2020. You might need to think about downsizing or making some lifestyle changes to avoid going into debt again.

Save Emergency Funds

It’s a good idea to always have a safety buffer for emergencies. It’s common nowadays, especially for younger people, to live without savings because they simply don’t see a way to save more money. Try to save a little each month, and factor this into your budget. Keep a certain amount of savings for emergencies only. That way if you need to pay a bill or something unexpected, you can. Here is a guide to saving money.

Earn More Money

It sounds pretty obvious, but if you aren’t able to live within your means then you might either need to spend less or earn more. There are several side hustle ideas online you can try to make some extra cash. Otherwise, it might be time to think about how you can kickstart your career.

best,

– a contributed post

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15 Father’s Day Gift Ideas That Won’t Break The Bank

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